A customer wants to launch a new product in the market and an agile team is set up to work on this project for
9 months After 1 month the customer feels that it would be better to release the product 2 months earlier than the planned date. The task is now assigned to the most talented resource in the organization to this project tor an early finish.
Which risk management strategy has been adopted in this scenario?
Correct Answer: D
In this scenario, the organization is exploiting a risk management strategy. Exploitation is a strategy used in positive risk management or opportunity management. It seeks to make sure the opportunity is realized. By assigning the most talented resource to the project, the organization is trying to exploit the opportunity to finish the project earlier than planned.
References: PMBOK Guide, 6th Edition, Section 11.5.2.1, Strategies for Opportunities. The PMBOK Guide is a foundational standard from the Project Management Institute (PMI) that provides guidelines for managing individual projects and defines project management related concepts. It also describes the project management life cycle and its related processes, as well as the project life cycle. The PMBOK Guide is process-based, meaning it describes work as being accomplished by processes. This approach is consistent with other management standards such as ISO 9000 and the Software Engineering Institute's CMMI. Processes overlap and interact throughout a project or its various phases. Processes are described in terms of:
* Inputs (documents, plans, designs, etc.)
* Tools and Techniques (mechanisms applied to inputs)
* Outputs (documents, products, etc.)