A heavy industrial design firm has over USS3 billion in current contract value. As a result of quantitative risk analysis of a geographically separated project, opportunities have been identified and assessed as high priorities for the project.
What is the most effective method to capture these opportunities?
To capture identified high-priority opportunities in a project, the most effective method is to establish a contingency reserve. This reserve can be utilized to fund actions that enhance or exploit these opportunities, ensuring that the project benefits from them.
D. Establish a contingency reserve.
D is the right answer
D is the answer
A risk is a Threat or an opportunity, Obviously th identification of this opportunity was done with a PM and to enhance this opportunity we need to establish a contigency reserve so D is correct.
Answer is D Cause it's the actual response to capture the Opportunity. .
If you the answer would be about a contingency plan to increase the likelyhood of the opportunity it would be C. But the answer is for the reserve and this would not help to capture the opportunity.
Should be option "D"
In some cases you can use contingency reserve to enhance opportunity or exploit.
C is correct in assuming this risk assessment was done by a Risk Manager or anyone other than the PM. Once the PM is notified, they will develop a risk response plan along with project stakeholders which may or may not include an contingency reserve.
There's no indication that the analysis was done without the PM. I think D is the correct answer.