Risk is the absolute best thing you can have in your project. Yes, you read that right. I’m a project manager who craves risk, who wants risky projects.

I feel like I should start a support group: “Hi, my name is Trevor. I am a project manager and I like risks”. But my group wouldn’t be trying to stop anyone taking risks, it would be encouraging it.

Think about it. A project is a new venture, a new risk. Or to use another word from the same root, a project is a new adventure. Now, doesn’t that sound better? Doesn’t that sound a bit more, well, exciting?

“A new adventure” brings to mind much more interesting ideas and concepts than “a new project”. We think of excitement, of courage, of winning through against the odds. In other words, we think of the upsides of overcoming danger, the positive aspects of risk.

For many project managers, though, “a new project” immediately brings to mind thoughts of caution, of danger, of failure. We think of the negative aspects of risk. And not unnaturally, we start to think of how to get rid of the risk from the venture, to ‘de-risk’ the project.

But consider this: Any project has to include risk. Yes, it has to. A project is about change, about creating something new, or doing something differently. And any change has a risk associated with it – we simply can’t know exactly what will happen.

But this isn’t a bad thing! It is thought that the word ‘risk’ derived from an Arabic word ‘rizk’, meaning ‘to seek prosperity’. Similar words were used in the Middle Ages specifically to do with the dangers involved in sea trade, in sending goods you had paid for out onto an unsafe sea, in the hope of selling them for a profit elsewhere.

If you think about it, we often use risk to mean the same thing today – we risk our money by buying shares, or by trading in commodities, or even by starting a project! We are putting our money in harm’s way, risking it being wasted or lost, in the hope that we will in fact get a bigger return.

Risk is good. Without an element of risk, we won’t be able to achieve success. Without risk, we don’t have a project. Without risk, we’re just doing the same old thing again – we’re doing business as usual management, not project management!

And usually, the bigger the risk, the bigger the potential reward. A big reward sounds great! So why do we all, (project managers, I mean) seem to avoid risk wherever we can? Well, that’s what I’m going to talk about tomorrow. See you then!

(Image courtesy of szlea. Some rights reserved.)