BUISENESS MANAGEMENT
RISK MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Share
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Accept
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Enhance
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Exploit
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Detailed explanation-1: -Enhance. In this strategy, you take a proactive to increase the probability of the opportunity. This strategy is the opposite of Mitigate in negative risks. In this approach, we enhance the probability or impact.
Detailed explanation-2: -Enhance. The enhance strategy is used to increase the probability and/or impact of an opportunity. Early enhancement action is often more effective than trying to improve the benefit after the opportunity has occurred. The probability of occurrence of an opportunity may be increased by focusing attention on its causes.
Detailed explanation-3: -Positive risks, also called opportunity risks, are events or occurrences that provide a possible positive impact on a company or project. These opportunities can help companies reduce the costs of necessary project resources.