In reviewing the team's identified project risks, a project manager identified an opportunity to assign more resources to ensure the company receives the project's incentive payment for early…

The correct answer is A. Exploit. The 'Exploit' response strategy is used when a team wants to ensure that an identified opportunity definitely materializes. In this scenario, assigning additional resources guarantees the project finishes early, securing the incentive payment - the opportunity is being actively…

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Question

In reviewing the team's identified project risks, a project manager identified an opportunity to assign more resources to ensure the company receives the project's incentive payment for early completion. In implementing this plan, which response should the risk manager use?

Options

AExploit
BAccept
CShare
DEnhance

How the community answered

(38 responses)

A
71% (27)
B
16% (6)
C
8% (3)
D
5% (2)

Explanation

The 'Exploit' response strategy is used when a team wants to ensure that an identified opportunity definitely materializes. In this scenario, assigning additional resources guarantees the project finishes early, securing the incentive payment - the opportunity is being actively pursued to make it a certainty. 'Enhance' (D) would only increase the probability or impact of an opportunity without guaranteeing it. 'Share' (C) involves partnering with a third party to capture the opportunity. 'Accept' (B) means acknowledging the opportunity but taking no specific action. Since the team is committing resources to lock in the benefit, this is a textbook exploit response.

Topics

#Risk response strategies#Positive risk response#Opportunity management#Exploit risk response

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