Share (Opportunity Strategy)
Share is an opportunity response strategy that allocates ownership of an opportunity to a third party who is best able to capture the benefit for the project. It is the opportunity equivalent of the threat strategy "transfer."
Explanation
The share strategy involves partnering with or delegating to another entity that has the expertise, technology, or resources to maximize the opportunity. The project shares in the benefits without bearing full responsibility for making the opportunity happen.
Common examples include forming joint ventures, creating partnerships, establishing teaming agreements, or using special-purpose companies. For instance, a construction firm might share an opportunity to use a new building technology by partnering with a specialist firm that has expertise in that technology, splitting the resulting cost savings.
Sharing is appropriate when the project team alone cannot fully capitalize on the opportunity but a third party can. The arrangement typically includes a sharing of both the investment and the benefits. Like all risk response strategies, the sharing arrangement, terms, and risk owner should be documented in the risk register.
Key Points
- •Allocates opportunity ownership to a third party best positioned to capture benefits
- •Mirrors the "transfer" strategy for threats
- •Common tools: joint ventures, partnerships, teaming agreements
- •Benefits are typically shared between the project and the third party
Exam Tip
Share for opportunities mirrors Transfer for threats. If a question involves partnering with another organization to capture a benefit, the answer is share.
Frequently Asked Questions
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