EXPLOITING POSITIVE RISK THROUGH ORGANIZATIONAL CULTURE AND PROACTIVE IDENTIFICATION

Risk management is commonly accepted as a foundational management process to increase the likelihood of project success. Risks can be categorized as either threats (negative events or conditions) or opportunities (positive). This qualitative study explored the positive side of risk management to examine if opportunity management is still underutilized by practitioners, as has been reported in previous studies and standards. Recommendations from this study for improved use of opportunity management include development of: (a) specific training on opportunity management (b) catalog of opportunity examples, and (c) template for the business case for opportunity management. This research provides greater insight to improve the efficacy for current and future project, program, and portfolio managers.