Your project is an agricultural-based project that deals with plant irrigation systems.
You have discovered a byproduct in your project that your organization could use to make a profit.
If your organization seizes this opportunity it would be an example of what risk response?
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A. B. C. D.D.
This is an example of exploiting a positive risk - a by-product of a project is an excellent example of exploiting a risk.
Exploit response is one of the strategies to negate risks or threats that appear in a project.
This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized.
Exploiting a risk event provides opportunities for positive impact on a project.
Assigning more talented resources to the project to reduce the time to completion is an example of exploit response.
Incorrect Answers: A: Enhancing is a positive risk response that describes actions taken to increase the odds of a risk event to happen.
B: This is an example of a positive risk, but positive is not a risk response.
C: Opportunistic is not a valid risk response.
The risk response in this scenario is "C. Opportunistic."
Opportunistic risk response is a risk response strategy that involves taking advantage of opportunities that arise during the course of a project to benefit the organization. In other words, it is a strategy of exploiting positive risks or opportunities that could be beneficial to the project.
In this scenario, the discovery of a byproduct that the organization could use to make a profit is an opportunity that has arisen during the project. By seizing this opportunity, the organization is taking advantage of a positive risk or opportunity that could help the project or benefit the organization. Therefore, it is an example of an opportunistic risk response.
Other risk response strategies include:
Avoidance: This strategy involves taking steps to eliminate the risk altogether. In this case, it would involve avoiding the discovery of the byproduct and not using it to make a profit.
Mitigation: This strategy involves taking steps to reduce the impact or likelihood of the risk. In this case, it would involve reducing the risk of the byproduct discovery by limiting the scope of the project.
Transfer: This strategy involves transferring the risk to another party, such as an insurance company. In this case, it would involve transferring the risk of the byproduct discovery to a third party.
Acceptance: This strategy involves accepting the risk and dealing with it if and when it occurs. In this case, it would involve accepting the risk of the byproduct discovery and using it to make a profit.
Therefore, the correct answer is C. Opportunistic.