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Enhance vs Share vs Exploit

Enhance vs Share vs Exploit

If you enjoyed reading this post, check out all of our post on PMP Concepts Learning Series.

 

Designed to help those that are preparing to take the PMP or CAPM Certification Exam, each post within this series presents a comparison of common concepts that appear on the PMP and CAPM exams.

Enhance vs Share vs Exploit

There are three proactive strategies for positive risks (opportunities). This risk may be enhanced, shared, or exploited.

Enhance

Enhancing the opportunity implies changing the plan or approach to improve the probability of the opportunity occurring or increasing the benefit of the opportunity should it occur.

Share

Sharing the opportunity occurs when you partner with another company or organization to enable achieving the benefits of the opportunity. Sharing usually involves some type of a contractual relationship.

Exploit

Exploiting the risk is taking action to ensure that the opportunity will be realized.

Example

There is an opportunity to be first-to-market with a new product resulting in significantly increased profits from the original business case.

To enhance the opportunity, you offer your team incentives to keep them motivated and focused on the work.
To share the opportunity, you enter into a contractual agreement with another company that can provide a key component required to get to market faster.

To exploit the opportunity, you fast-track and crash your schedule to ensure you will launch prior to your competitor.

Summary

There are three proactive approaches to handling a positive risk, also called an opportunity:

  • Enhance – increase the probability or benefit
  • Share – partner with a 3rd party
  • Exploit – ensure the opportunity will be realized

See all posts in our PMP Concepts Learning Series

2 Comments

  1. Christine on May 20, 2016 at 10:58 am

    Your bite sized PMP Concepts have been very helpful in clarifying some of my study sticking-points! Thank you for making them available.

  2. Reginald on July 24, 2016 at 10:46 am

    A friend of mine purchased the PMP Pocket Guide. He let me read it and I found it to be very useful. I take my test this Wednesday. I have read every PMP Concept archive and find them extremely useful. Looking at the date of these archives tells me that some of these concepts should be revisited. Like the one I am reading now. Based on PMBOK 5th Edition, Accept is also an opportunity. Your efforts in developing these concepts has not gone unnoticed. Thank you for your efforts.

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