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?
Click on the arrows to vote for the correct answer
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 correct answer is D. Exploiting.
Exploiting is a risk response strategy where an organization takes advantage of an opportunity to maximize the potential benefits. In this scenario, the organization has discovered a byproduct that could be used to generate profit. By seizing this opportunity, the organization is exploiting the situation to its advantage.
The other answer choices are as follows:
A. Enhancing: Enhancing is a risk response strategy where an organization takes steps to increase the probability or impact of an opportunity. This response is not applicable in this scenario because the organization has already identified the opportunity and is looking to exploit it.
B. Positive: Positive is not a risk response strategy. It is a risk attitude that describes an organization's willingness to take risks to achieve its objectives.
C. Opportunistic: Opportunistic is similar to exploiting in that an organization takes advantage of an opportunity, but opportunistic has a negative connotation. It suggests that the organization is taking advantage of a situation without regard for ethics or morality. In this scenario, there is no indication that the organization is acting unethically or immorally.
In summary, the organization's decision to use the byproduct to generate profit is an example of exploiting, a risk response strategy where an organization takes advantage of an opportunity to maximize potential benefits.