A project manager has an opportunity to add a highly skilled expert to the team who can increase the probability of the project's success.
Which of the following risk strategies should the project manager adopt?
Click on the arrows to vote for the correct answer
A. B. C. D.A.
239
The correct risk strategy for the project manager to adopt in this scenario is "exploitation."
Exploitation is a risk strategy that involves taking advantage of a positive risk or opportunity by enhancing it to increase the probability of achieving project objectives. In this case, adding a highly skilled expert to the project team is a positive risk or opportunity that could increase the probability of the project's success. The project manager should, therefore, use exploitation to maximize the potential benefits of this opportunity by ensuring that the expert's skills and knowledge are utilized to the fullest extent.
Avoidance, on the other hand, is a risk strategy that involves eliminating or avoiding a risk by changing the project plan or approach. Avoidance is typically used for negative risks or threats that could negatively impact the project's success. In this scenario, there is no negative risk that needs to be avoided.
Acceptance is a risk strategy that involves accepting the risk and its consequences without taking any action. Acceptance is typically used for risks that have a low impact or likelihood and are not worth the cost or effort to mitigate. However, in this scenario, there is a positive risk that could significantly impact the project's success, so acceptance is not an appropriate risk strategy.
Mitigation is a risk strategy that involves reducing the impact or likelihood of a risk. Mitigation is typically used for negative risks or threats that could negatively impact the project's success. However, in this scenario, there is no negative risk that needs to be mitigated.
Therefore, the most appropriate risk strategy for the project manager to adopt in this scenario is exploitation. The project manager should take full advantage of the opportunity to add a highly skilled expert to the team and ensure that the expert's skills and knowledge are utilized to the fullest extent to increase the probability of the project's success.