Enhance (Opportunity Strategy)
Enhance is an opportunity response strategy that increases the probability and/or positive impact of an opportunity. Unlike exploit, it does not guarantee the opportunity will occur.
Explanation
The enhance strategy focuses on identifying and maximizing the key drivers of the opportunity to increase the likelihood of it occurring or to amplify its benefits if it does. It is the opportunity equivalent of the threat strategy "mitigate"—just as mitigate reduces the probability or impact of a threat, enhance increases them for an opportunity.
Examples include adding resources to a task to increase the chance of early completion, providing additional training to improve the probability of exceeding quality targets, or investing in marketing to increase the likelihood of higher-than-expected sales. The actions taken are proactive but do not guarantee the outcome.
Enhance is appropriate for opportunities where the team can influence the drivers but cannot control the outcome with certainty. The cost of enhancement actions should be proportional to the expected value of the opportunity.
Key Points
- •Increases probability and/or impact of an opportunity
- •Does not guarantee the opportunity will be realized
- •Mirrors the "mitigate" strategy for threats
- •Focuses on maximizing key drivers of the positive risk
Exam Tip
Enhance = increase the chances. If a question describes actions to improve the likelihood of a benefit without guaranteeing it, the answer is enhance.
Frequently Asked Questions
Related Topics
Risk Response Strategies for Opportunities
Risk response strategies for opportunities are the five approaches used to address positive risks: exploit, enhance, share, accept, and escalate. Each strategy aims to increase the probability, impact, or both of a beneficial risk event.
Exploit (Opportunity Strategy)
Exploit is an opportunity response strategy that ensures the positive risk is realized by eliminating the uncertainty associated with the opportunity. It is the most aggressive opportunity strategy.
Mitigate (Risk Strategy)
Mitigate is a threat response strategy that reduces the probability of occurrence and/or the impact of a threat to within acceptable limits. The risk is not eliminated but brought to a manageable level.
Plan Risk Responses
Plan Risk Responses is the process of developing options, selecting strategies, and agreeing on actions to address overall project risk exposure and to treat individual project risks.
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