Saturday, January 10, 2009

Positive Risk Strategies

Corrective action in Positive Risk Strategy:
  • Risk Exploitation
    - Used when a project team wants to make sure that a positive risk is fully realized
    - Done by hiring the best experts in a field or ensuring the most technologically advanced resources are available to the project team.

  • Risk Sharing
    - Entails partnering up with another party in an effort to give your team the best chance of seizing the opportunity.
    - Joint ventures are a common example of risk sharing.

  • Risk Enhancement
    - increase the probability that an opportunity will occur.
    - Done by focusing on the trigger conditions of the opportunity and trying to optimise their chances of occurrence.

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Recommended Books on PMP

Suggested Study Materials

  • PMP-Preparation Recommended Books
  • PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam
  • A Guide to the Project Management Body of Knowledge, Third Edition (PMBOK Guides)
  • The PMP Exam: How to Pass On Your First Try (Test Prep series)