Your program creates a byproduct that you could sell to a client. The cost of the byproduct would offset the cost of the program by nearly $7,500 per month. This is an example of which positive risk r

The correct answer is C. Exploiting. Exploiting is a positive risk (opportunity) response strategy used when you want to ensure that an opportunity is realized. In this scenario, the program manager is actively taking advantage of the byproduct by selling it to generate revenue - that is the definition of exploiting

Program Risk Management

Question

Your program creates a byproduct that you could sell to a client. The cost of the byproduct would offset the cost of the program by nearly $7,500 per month. This is an example of which positive risk response?

Options

ASharing
BEnhance
CExploiting
DAccepting

How the community answered

(40 responses)

A
3% (1)
C
93% (37)
D
5% (2)

Explanation

Exploiting is a positive risk (opportunity) response strategy used when you want to ensure that an opportunity is realized. In this scenario, the program manager is actively taking advantage of the byproduct by selling it to generate revenue - that is the definition of exploiting an opportunity. Sharing involves partnering with a third party who is better positioned to capture the benefit. Enhancing increases the probability or impact of an opportunity occurring (e.g., investing more to make the byproduct more valuable). Accepting means acknowledging the opportunity but taking no active steps to pursue it. Actively selling the byproduct and capturing the $7,500/month offset is a deliberate action to realize the opportunity - that is exploiting.

Topics

#Risk Management#Opportunity Management#Positive Risk Response#Exploiting Opportunities

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