What type of risk response has been used in this instance?

Shawn is the project manager of the WHT Project for his company. In this project Shawn’s team reports that they have found a way to complete the project work for less cost than what was originally planned. The project team presents a new software that will help to automate the project work. While the software and the associated training costs $25,000 it will save the project nearly $65,000 in total costs. Shawn agrees to the software and changes to the project management plan accordingly. What type of risk response has been used in this instance?

A.
Avoidance

B.
Exploiting

C.
Accepting

D.
Enhancing

Explanation:

Exploiting happens when the project manager wants to ensure that an opportunity is realized. The exploit response is one of the strategies to negate risks or threats appear in a project. This strategy may be selected for risks with positive impacts where the organization wishes to ensure that the opportunity is realized. Exploiting a risk event provides opportunities for positive impact on a project. Assigning more talented resources to the project to reduce the time to completion is an example of exploit response. Answer option A is incorrect. Avoidance is a negative risk response that changes the project management plan to take the risk entirely out of the project.
Answer option D is incorrect. Enhancing is a positive risk response that aims to increase the probability and/or impact of the risk event.

Answer option C is incorrect. Accepting is a risk response that is appropriate for positive or negative risk events. It does not pursue the risk, but documents the event and allows the risk to happen. Often acceptance is used for low probability and low impact risk events. Answer option C is incorrect. Accepting is a risk response that is appropriate for positive or negative risk events. It does not pursue the risk, but documents the event and allows the risk to happen. Often acceptance is used for low probability and low impact risk events. Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"