Which of the following is the risk response strategy for opportunities that seek to increase...

Risk management in Value Methodology (VM) includes strategies for both threats and opportunities, particularly during the Implementation Planning phase, as taught in the VMF 1 course (Core Competency #8: Implementation Planning). According to SAVE International’s Value Methodology Standard, which aligns with project management best practices (e.g., PMI’s PMBOK, as noted in Question 28), risk response strategies for opportunities include:

Exploit: Ensure the opportunity is realized by taking actions to make it certain (e.g., assigning the best resources).

Share: Partner with others to increase the likelihood or benefit of the opportunity (e.g., joint ventures).

Enhance: Increase the probability of the opportunity occurring and/or the magnitude of its beneficial results (e.g., by improving conditions or amplifying benefits).

Accept: Take no action to influence the opportunity.

The question specifically asks for the strategy that seeks to “increase the probability of an opportunity occurring and/or the magnitude of results being beneficial,” which directly matches the definition ofEnhance. For example, in a VM study, enhancing an opportunity might involve marketing a new feature to increase its adoption rate (probability) or improving its design to maximize savings (magnitude).

Option A (Exploit) is incorrect because exploiting ensures the opportunity happens, not necessarily increasing its probability or magnitude.

Option B (Share) is incorrect because sharing involves collaboration, not directly increasing probability or magnitude.

Option C (Mitigate) is incorrect because mitigation applies to threats, not opportunities.

Option D (Enhance) is correct, as it focuses on increasing the probability and/or magnitude of an opportunity’s benefits.