Response Options for Risks and Opportunities

Summary of Response Options for Risks and Opportunities

Type of Response Use for Risk or Opportunity Description

Avoidance

Risk Eliminate risk by accepting another alternative, changing the design, or changing a requirement. Can affect the probability and/or impact.
Mitigation(Control) Risk Reduce probability and/or impact through active measures.
Transfer Risk Reduce probability and/or impact by transferring ownership of all or part of the risk to another party, use of insurance and warranties, by redesign across hardware/software or other interfaces, etc.
Exploit Opportunity Take advantage of opportunities.
Share Opportunity Share with another party who can increase the probability and/or impact of opportunities.
Enhance Opportunity Increase probability and/or impact of opportunity.
Acceptance Risk and Opportunity Assume the associated level of risk or opportunity without engaging in any special efforts to control it. Budget, schedule, and other resources must be held in reserve in case the risk or opportunity is selected.

Source: Project Management: A Systems Approach to Planning, Scheduling, and Controlling.

by Harold R Kerzner.

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Certification Bazaar: The Ugly Side

The certification bazaar has  taken off in the Indian IT industry. Courses range from PMI’s PMP, OGC’s PRINCE2 and ITIL, COBIT, TOGAF and BPM.

Purveyors of these courses charge you an arm and a leg; certification and their maintenance will in all probability cost you another arm and a leg.Do you wish to put down that kind of money with the possibility of little or no returns on your investment?

Horror stories of how folks are certified but have no opportunity to practise abound, but at least in some cases, employers are willing to foot the bill to retain the certified hordes. Yet others do not have the said luxury. Would you re-certify yourself if you had to pay from your own pocket?

Marketing emails  sniff out an inkling of a need or a requirement. The tactics could be termed innovative or (if you wish to be critical) , they  smack of desperation.

Courses and their faculty seem to be  disjoint and disparate from the industry and reality.

It’s a chicken and egg situation. Should you  certify and then gain experience on the same? Or gain experience first and then have yourself certified?

What do you think?

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The other bugbear in the Indian IT industry is not sexism, as you would like to believe, but ageism.

Lack of seasoned professionals in the industry and pre-dominance of young professionals is the cause of this malaise.

Churlish behaviour of the young ‘uns only reinforces the impression.

Just another ugly facet of the celebrated success story.

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Quote of the day:
Whatever you do will be insignificant, but it is very important that you do it. – Mahatma Gandhi