Question

How does risk tolerance impact you taking on projects? (Project Management)

Answer 1

Without a risk management and business continuity plan, we can say that the risk tolerance is the biggest factor which comes into consideration when we need to decide if the project that needs to be undertaken is worth. It has a simple assumption where we can say that the ability to tolerate risks and the efficiency of the company in the terms of being able to do so lies on the premise which takes into account how a company performs under such conditions. If the company shows good response times as well as a structure which can adapt to a given risk or situation while minimizing the impact, the project can be undertaken. While the reverse is also true where a company decides to leave the project based on their past encounters with similar problems.