Risk Response Strategies – Share
SHARE is one of the important risk response strategies. In short , when something is not achievable by one party the task is shared and hence the profit also.
What is Risk Response Strategy – Share?
As mentioned when a person/organization is not capable enough to won the opportunity, goes for sharing to gain it. I remember one example from my experience.
Our organization was working with a customer in a big project. In the mean time, customer wanted us to work on us to work on a another project which would be an mobile app and later point of time, both will be integrated together. We realized this to be a very good opportunity for us as this will have a big scope in future. Also at the same time we realized that all our project team members were occupied and to setup a new team and also to create the mobile architecture and start working on that will consume a considerable amount of time.
As a pre-requisite both the project required to be run parallel and as the integration was also needed, we did not have additional time to form or setup the project team.
To grab this opportunity, we did work with a local vendor who had their own mobility framework were ready to start in a very short time. This proved to be beneficial for both of us as the local vendor got a project opportunity to work for a big customer and also for us we were able to start that project in no time and also we could earn a higher revenue as the local vendor operates in a much lower rate.
What our project or operation objective is to always create a win-win situation and that works for everyone.
One can read more about about the Project Risk Analysis and Management.