Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

What are the strategies for dealing with positive risks?

A. Transfer, mitigate, avoid, exploit B. Avoid, mitigate, transfer, accept C. Mitigate, enhance, exploit, accept D. Exploit, share, enhance, accept

user-image
Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2018/08/15
MORTADA SALEH AWAD AHMED AHMED
by MORTADA SALEH AWAD AHMED AHMED , مدير مشروع , مؤسسة الصافات الهندسية للمقاولات

First, what are the positive risks?

Positive risk or "opportunity" carries positive results on the project, which is a preferred risk to project managers and stakeholders and even seek to achieve it ..

 An example of a positive risk: terminating the project at an early date or increasing the return on investment.

Therefore, the strategy to deal with the positive risks are: -

 

a)Investment(exploit)

Ensuring that this risk or opportunity is realized and invested in increasing the profitability of the institution or improving the performance, and through the amendment in some project activities to ensure that it occurs.

 

b)Participation(share)

All or part of the opportunity is transferred to a third party. Outsourcing is done by an expert or third party with experience in a particular field that is not available to them.

 

c)Optimization(enhance)

Increase the likelihood or impact of the opportunity.

 

d)agree(acceptance)

It is a strategy that can be followed in both cases: Positive risk or negative risk, in which the error is accepted and no action is taken until it occurs. This strategy is used as a last resort.

Eko Rasyanto Harimurti
by Eko Rasyanto Harimurti , Manager – Infrastructure Engineering , Bukit Makmur Mandiri Utama

D. Exploit, share, enhance, accept

Muhammad Farooq
by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.

Answer: DExplanation: Positive risks are opportunities that could happen on your project. The strategies for dealing with them are all about making sure that your project is in a position to take advantage of them or at least share in them with other projects if possible.

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.