risk response

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AM1969
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risk response

Postby AM1969 Fri Apr 24, 2015 11:20 pm

The project manager for a construction project discovers that the local city council will vote on a zoning change that would open up a new neighborhood to commercial building. She contacts other construction companies in the area that would benefit from the change to ask them to attend the council meeting in order to convince the city council to vote for the change. A “Yes” vote will benefit all of the companies. This is an example of which risk response strategy?

A
Mitigate
B
Share
C
Exploit
D
Enhance
celina
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Re: risk response

Postby celina Sat Apr 25, 2015 5:08 am

Would go with C. Exploit
manishpn
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Re: risk response

Postby manishpn Sat Apr 25, 2015 7:57 am

Its Enhance.. you are increasing the probability of a positive risk to occur.

In exploit you add certain tasks (work package) to ensure opportunity occurs
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AM1969
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Re: risk response

Postby AM1969 Sat Apr 25, 2015 2:46 pm

The answer says----share ??
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AM1969
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Re: risk response

Postby AM1969 Sun Apr 26, 2015 2:44 pm

Saket confusion among answers persist, so need ur opinion.
pank_pmp
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Re: risk response

Postby pank_pmp Mon Apr 27, 2015 6:06 am

Enhance it should be,

While calling other construction companies for Yes vote, you are trying to enhance the probability of this positive risk. You may later shall be sharing this with other stakeholders.

Consider what first you are trying to do such scenario.
pank_pmp
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Re: risk response

Postby pank_pmp Mon Apr 27, 2015 6:24 am

Enhance it should be,

While calling other construction companies for Yes vote, you are trying to enhance the probability of this positive risk. You may later shall be sharing this with other stakeholders.

Consider what first you are trying to do in such scenario.
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saket
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Re: risk response

Postby saket Mon Apr 27, 2015 9:58 am

The example indicate that you are enhancing risk by sharing it, so since it exam... we need to see key words, so since we are sharing the benefits if they occur and that is why we are joining hand with others we should select Share.

The project manager for a construction project discovers that the local city council will vote on a zoning change that would open up a new neighborhood to commercial building. She contacts other construction companies in the area that would benefit from the change to ask them to attend the council meeting in order to convince the city council to vote for the change. A “Yes” vote will benefit all of the companies. This is an example of which risk response strategy?
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coolpmp69
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Re: risk response

Postby coolpmp69 Mon Apr 27, 2015 12:59 pm

Sharing risk response strategy will benefit both the parties. In this question, the company will benefit by increasing their business by involving community and community will get new commercial building. So the option should be 'share'
AM1969
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Re: risk response

Postby AM1969 Mon Apr 27, 2015 7:05 pm

Thanks for the convincing explanation.

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