What are likely outcomes if a change control process is not used? Why? What are the major differences between managing negative risks versus positive risks (opportunities)?
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Change control processes are used to manage changes in the processes related to the manufacturing of products or rendering services to customers. They focus on creating value for customers. Thereby increasing the agility of the system such that they can match the varying customer or market demands without causing delay or wastage of any kind. In case, change control process did not use, the system would lose its flexibility and the change that may occur due to inherent or external causes may not be properly structured. It may have an unpredictable outcome. This means, the desired output may or may not be achieved. Thereby the purpose of change may never be achieved and more damage than good may be caused to the existing system.
A positive risk is a form of opportunity while a negative risk is a threat to the projector system. When managing negative risks, the risk management plan, alternative solution have to be planned and strategically implemented in order to avoid the damage that a threat can cause to the business or project. For example, using stand-by sources for raw material and labor whenever required, else changing the design in order to counter the sudden change in the project specification. On the other hand managing a positive risk such that it favors the organization helps gain a competitive edge over other players in the market, tapping untapped resources, using favorable market conditions to promote the project. Thus effective management of positive risks leads to higher profitability and success of the business. This also may help the organization achieve breakthroughs in successful achievement of organizational goals and objectives.