You are the project manager of GRT project. You discovered that by bringing on more qualified resources or by providing even better quality than originally planned, could result in reducing the amount of time required to complete the project. If your organization seizes this opportunity, it would be an example of what risk response?
The correct answer is 'Exploit'. Exploit is a risk response strategy used when the organization aims to ensure that a positive risk (opportunity) occurs. By bringing on more qualified resources or providing better quality to reduce project completion time, the organization actively ensures that the opportunity is realized. Therefore, the strategy matches the definition of exploiting an opportunity to have a positive impact on the project.
Best answer is A, Enhance. Question says "could result", not "will result".
Answer is A
Enhancing is not a risk response
The situation you've described, where bringing on more qualified resources or providing even better quality than originally planned results in reducing the amount of time required to complete the project, is an example of the "Exploit" risk response. Here's a brief explanation of why "Exploit" is the correct answer: Exploit: This risk response strategy is used when the organization wants to ensure that a positive risk (an opportunity) is fully realized. By taking proactive steps to guarantee the occurrence of the opportunity (in this case, reducing the project time by bringing in more qualified resources or enhancing quality), the organization is exploiting the opportunity. The other options are: Enhance: This strategy involves increasing the probability or impact of an opportunity, but it doesn't necessarily guarantee that the opportunity will be realized. It's more about improving chances rather than ensuring the occurrence