Opportunity Response Strategies Flashcards

A project team identifies a chance to deliver early if a key vendor accelerates work, but the vendor's reliability is uncertain. The team partners with a specialized firm to jointly pursue the early-delivery upside. Which opportunity response strategy is this?

Answer: Share

Sharing transfers ownership of an opportunity to a third party best able to capture it, often via partnerships or joint ventures.

Which opportunity response strategy seeks to ensure the opportunity definitely happens by removing all uncertainty about its occurrence?

Answer: Exploit

Exploit aims to make the opportunity's realization certain by eliminating the uncertainty of whether it occurs.

A risk owner takes actions to increase the probability and positive impact of an opportunity without guaranteeing it. Which strategy is being applied?

Answer: Enhance

Enhance increases the likelihood or impact of an opportunity but does not make it certain.

An opportunity falls outside the project manager's authority and would affect program-level objectives. The PM raises it to the program manager. This is which strategy?

Answer: Escalate

Escalation moves an opportunity to a higher level of authority when it is beyond the project's scope or the PM's authority.

After analysis, a team decides to take no proactive action on a minor opportunity but will pursue it if it arises. This best illustrates which strategy?

Answer: Accept

Accept means taking no active steps to pursue the opportunity, acknowledging it without proactive measures.

Which of the following is the BEST example of an exploit strategy for an opportunity?

Answer: Assigning your most skilled resource to guarantee a task finishes ahead of schedule

Assigning top talent to ensure the favorable outcome occurs is a classic exploit action that removes uncertainty.

When an opportunity is escalated and accepted at the program level, who typically owns the response thereafter?

Answer: The program or portfolio manager

Once escalated and accepted, ownership transfers to the program or portfolio level and is no longer monitored by the project team.