What is Risk Exploiting?
What is Risk Exploiting?
Kailash Behera, MBA, PRINCE2®, PMP® Answered question November 25, 2023
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Risk exploting is about taking proactive actions to make the most of a possible risk in project management entails converting it into an opportunity for the project’s benefit rather than simply avoiding or limiting its impact. It’s similar to taking advantage of unexpected rain during a drought by collecting water for later use. In simplest terms, it is about identifying a risk that may have a good side effect or an opportunity for profit, then taking steps to capitalize on that possibility and exploit it to your project’s benefit. Instead of just avoiding challenges, it is necessary to identify ways to transform them into something advantageous to the project’s success.
Kailash Behera, MBA, PRINCE2®, PMP® Answered question November 25, 2023
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