distinguish between opertunity and threat matrices
Answer (1)
16th Feb, 2019
hello aspirant,
There are some similarities in the process for managing opportunities and threats.
we can identify opportunities using the same techniques that work for threats.
obviously we can hold a brain storm session to think creatively about upside certainities( opportunities) and downside certainities( threats), but we can also use root cause analysis to find potentially helpful things.
"risk identification like SWOT analysis, force field analysis naturally expose opportunities as well as threats"
- when we want to rank risks ,the importantce of the both opportunities and threats can be accessed interms of probability.
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"The only difference between opportunity and threat is the "impact is positive for an opportunity" and "negative for an threat "
having found some good opportunities that are worth pursuing , we can develop appropriate risk respones.
- opportunity responses are designed to capture positive effect or to improve the upside risks.
- threat responses are aimed to remove and reduce the negative effect of dowm side risks.
thank you
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