Project Management Professional (PMP)® Examination Content OutlineProcessMedium
A project manager is leading a critical IT infrastructure upgrade project. The schedule is tight, and there's pressure to complete the project on time. The project manager identifies an opportunity to use a new, more efficient automated deployment tool that could significantly reduce deployment time. However, this tool requires a small upfront investment in training and configuration. What is the MOST appropriate risk response strategy for this opportunity?
- AExploit
- BEnhance
- CAccept
- DShare
Show answer & explanationAnswer & explanation
Correct answer: A. Exploit
Exploit is a strategy for positive risks (opportunities) where the organization seeks to eliminate the uncertainty associated with an opportunity to ensure it definitely happens. By investing in training and configuration for a tool that 'could significantly reduce deployment time,' the project manager is taking proactive steps to ensure the opportunity's realization.
Why the other options are wrong
- B. Enhance increases the probability or impact of an opportunity, but 'Exploit' ensures it happens.
- C. Accept involves doing nothing or having a contingency plan for the opportunity, not proactive action to ensure it.
- D. Share involves partnering with a third party to capture the opportunity.
Risk Exploitation
A risk response strategy for positive risks (opportunities) that involves taking direct action to ensure that the opportunity occurs and its benefits are realized.
- Aims to maximize the probability and/or impact of an opportunity.
- Often involves allocating specific resources or making changes to the project plan.
- It's a proactive strategy to guarantee the positive outcome.
Memory trick: Exploit, Enhance, Share, Accept – good risks, don't forget the steps.