
242 Navigating Strategic Decisions: The Power of Sound Analysis and Forecasting
risk is a choice that earns a prot rather than fate and project value created is simply the return for
the risk taken. Second, choices are made from risky alternatives with outcomes that cannot be accu-
rately predicted or completely controlled, and accepting greater risks improves opportunities for
higher prots and other goals as long as they can be managed properly. Third, risk-reducing moves
will increase operational costs and may moderate other goals, but they will improve the chances of
higher project value creation.
The interaction among the many factors a