A project manager identifies an opportunity that could significantly benefit the project. The team decides to take direct action to ensure the opportunity is realized by assigning their top experts to work on it. Which positive risk response strategy are they applying?
By taking direct action and assigning top experts to guarantee the opportunity is realized, the team is using the Exploit risk response strategy. 'Exploit' involves making certain that a positive risk occurs to maximize its impact on the project. Enhance focuses on increasing the likelihood or impact of the opportunity but doesn't guarantee its occurrence. Share means partnering with a third party who can help capitalize on the opportunity. Accept involves recognizing the opportunity but not actively pursuing it.
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What is the Exploit risk response strategy?
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How is the Enhance strategy different from Exploit?
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When would a project team use the Share risk response strategy?