Tracy is the project manager of the NLT Project for her company. The NLT Project is scheduled to last 14 months and has a budget at completion of $4,555,000. Tracy's organization will receive a…

Mitigation is a threat response strategy used to reduce the probability or impact of a negative risk, not to take advantage of an opportunity.

Exploit is the opportunity response that ensures the opportunity definitely occurs - crashing adds probability but does not guarantee early completion, so Enhance is more accurate.

Enhance is the opportunity risk response strategy that increases the probability or positive impact of a favorable risk event. Crashing the schedule to improve the likelihood of earning the early-completion bonus directly aligns with this definition - the team is actively taking steps to make the opportunity (bonus payments) more likely or larger. It does not guarantee the opportunity, distinguishing it from Exploit.

Transference shifts risk consequences to a third party and is a threat response strategy, not applicable to pursuing an opportunity.