PM Minute: Sometimes the Best Strategy is to Relax and Accept the Risk

A major part of a PM’s job is identifying and responding to risk. If you believe, like I do, that everything is a project, one of the riskiest propositions outside of work is trying a new restaurant.

This is the situation we were in on Friday night as we visited the Sugar Bowl, an 87-year Massillon favorite that closed in 1989 and just reopened under new ownership. There are two major risks in visiting a restaurant right at opening: inconsistent food, service, or both and most of the normal risk strategies apply.

You can avoid the risk by not going.

You can mitigate it by calling ahead and ordering out.

Or you can transfer the risk by sending food back or leaving before ordering if the service is too slow.

Finally, you can accept the risk as part of trying something new. By accepting the risk, we opened the door to a surprising and wonderful two-hour experience.

So, in your projects and life, identify the risks and their triggers and evaluate the potential strategies. But, please do not be afraid to accept where it makes sense.

To read about why sometimes the best strategy is to relax and accept the risk, visit the blog.