This activity is designed to help students develop risk strategies for specific projects they are working on$,$ for a better understanding of the concepts. However, students are also free to discuss the concept without relating it to a specific project if they have a good understanding of the concepts.

The activity assumes that students can identify and classify risks as positive or negative. With this understanding, students will explain which risk response strategy is appropriate for a risk type. It$$s important for students to understand the purpose of each risk response strategy so they can match them appropriately.

Before delving into the concepts of primary and secondary risks, and residual risk, it$$s assumed that students know how to determine any known unknown risks and unknown unknowns. This foundational knowledge will aid students in their understanding of primary, secondary$,$ and residual risk.

This is also an opportunity to explain the difference between risk and issues, as these terms are often confused. The aim of this activity is to equip students with practical skills in identifying, classifying, and responding to project risks. It emphasizes the importance of effective risk management in achieving project objectives.

Activity

Explain your risk response strategies for a given project. Ensure that you include negative and positive risks.