Rex is the project manager of the BDF Project. This project will last for two years and has a budget of $2,345,000. Management has instructed Rex that the project must not go over budget as funds are very tight in the organization. During the project planning Rex and the project team discover a positive risk event to save $75,000. Rex wants to make certain that this risk event happens so which risk response method is most appropriate?

A.
Share

B.
Mitigation

C.
Enhance

D.
Exploit

Explanation:

The exploit positive risk response allows Rex to take actions within the project to ensure that the risk event does happen. The exploit response tries to eliminate uncertainty surrounding the positive risk event and promote the probability of the risk event.

The exploit response is one of the strategies to negate risks or threats 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.

Answer option A is incorrect. Share allows the risk event to be shared with any entity, such as through a teaming agreement or partnership.

Answer option C is incorrect. Enhance tries to increase to the probability and/or impact of the opportunity.

Answer option B is incorrect. Mitigation is a negative risk response to reduce the probability and/or impact of a risk event.

Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"