5 Questions
What is the primary goal of exploitation as a positive risk response strategy?
To ensure the opportunity is realized by making changes to the project to guarantee it happens.
Give an example of exploitation as a positive risk response strategy in a project.
Allocating more resources to a project component that has a high potential for a positive outcome.
What is the main objective of sharing as a positive risk response strategy?
To allocate some or all of the ownership of the opportunity to a third party who can better capture the benefits.
Provide an example of sharing as a positive risk response strategy in a project.
Forming a partnership or joint venture to take advantage of an emerging market.
What is the key difference between exploitation and sharing as positive risk response strategies?
Exploitation involves taking actions to ensure the opportunity is realized within the project, while sharing involves allocating ownership of the opportunity to a third party.
Study Notes
Positive Risk Response
Exploitation
- Ensure the opportunity is realized by making changes to the project to guarantee it happens
- Involves allocating more resources to a project component with high potential for a positive outcome
- Aim is to capitalize on the opportunity and maximize its benefits
Sharing
- Allocate some or all of the ownership of the opportunity to a third party
- Third party is better equipped to capture the benefits of the opportunity
- Examples include forming a partnership or joint venture to take advantage of an emerging market
Learn about different strategies to respond to positive risks, including exploitation and sharing opportunities to guarantee a successful outcome.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
