Exploit (Opportunity Strategy)
Exploit is an opportunity response strategy that ensures the positive risk is realized by eliminating the uncertainty associated with the opportunity. It is the most aggressive opportunity strategy.
Explanation
The exploit strategy takes direct action to make the opportunity happen with certainty. Unlike enhance, which merely increases probability, exploit removes all doubt by directly causing the beneficial outcome. It is the opportunity equivalent of the threat strategy "avoid"—just as avoid eliminates a threat, exploit eliminates uncertainty around a benefit.
For example, if there is an opportunity to complete the project ahead of schedule by assigning the most experienced team members, the exploit strategy would ensure those individuals are assigned rather than leaving it to chance. If an opportunity exists to use a new technology that could reduce costs by 20%, exploiting it means committing to that technology now.
Exploit is appropriate for high-value opportunities where the project can take definitive action. The cost of exploitation should be justified by the value of the opportunity. As with all strategies, the response should be documented in the risk register with an assigned risk owner.
Key Points
- •Ensures the opportunity is realized with certainty
- •Eliminates uncertainty around the positive risk event
- •Mirrors the "avoid" strategy for threats
- •Best suited for high-value opportunities where definitive action is possible
Exam Tip
Exploit = make it happen for sure. If a question describes taking definitive action to guarantee a benefit, the answer is exploit.
Frequently Asked Questions
Related Topics
Risk Response Strategies for Opportunities
Risk response strategies for opportunities are the five approaches used to address positive risks: exploit, enhance, share, accept, and escalate. Each strategy aims to increase the probability, impact, or both of a beneficial risk event.
Enhance (Opportunity Strategy)
Enhance is an opportunity response strategy that increases the probability and/or positive impact of an opportunity. Unlike exploit, it does not guarantee the opportunity will occur.
Avoid (Risk Strategy)
Avoid is a threat response strategy that eliminates the threat by changing the project management plan to remove the risk entirely, protect the project objectives, or relax the objective that is at risk.
Plan Risk Responses
Plan Risk Responses is the process of developing options, selecting strategies, and agreeing on actions to address overall project risk exposure and to treat individual project risks.
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The risk register is a project document that records the details of individual project risks, including their identification, analysis results, response plans, and current status.
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Transfer is a threat response strategy that shifts the negative impact and ownership of a threat to a third party. The risk is not eliminated but the responsibility for managing it moves to another entity.
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Earned Value Management (EVM)
Earned Value Management (EVM) is a methodology that integrates scope, schedule, and cost data to assess project performance and progress objectively.
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