MANAGEMENT

Detailed explanation-1: -In fact opportunity could be seen as just another form of risk : a risk with negative impacts is a threat, whereas a risk with a positive impact is an opportunity.

Detailed explanation-2: -An opportunity-risk is defined as an uncertainty that if it occurs would have a positive effect on achievement of project objectives. The exploit response seeks to eliminate the uncertainty by making the opportunity definitely happen.

Detailed explanation-3: -Examples of opportunity risk include: Not investing in a rapidly growing industry because of a lack of familiarity with it, and missing out on potential returns. Not diversifying a portfolio and missing out on potential returns from other investments.

Detailed explanation-4: -A risk is something unplanned that might happen that could have a negative impact on your project; An issue is something that is currently happening and is having a negative impact on your project; An opportunity is something unplanned that might happen that you could exploit to have a positive impact on your project.

Detailed explanation-5: -Risk and Opportunity Management is the culture, processes and structures that are directed towards effective management of potential opportunities and threats to an organisation achieving its objectives.