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Opportunities

Uncertain events or conditions that, if they occur, will benefit the project and improve its objectives are called opportunities.

Key Points

  • Opportunities are the positive side of risk and can reduce cost or time, improve quality, or increase value.
  • Typical response strategies for opportunities are exploit, enhance, share, and accept.
  • They are identified, analyzed for probability and impact, prioritized, assigned owners, and tracked in the risk register.
  • In agile settings, opportunities may lead to backlog changes, spikes, or experiments to capture value quickly.

Example

During an agile software project, the team learns about a free cloud credits program that could speed up performance testing and cut costs. The team plans to exploit the opportunity by migrating tests to the sponsored environment to reduce schedule and budget.

PMP Example Question

Which of the following best represents an opportunity?

  1. A key supplier may miss a critical shipment by two weeks.
  2. A new automation tool could shorten test execution time by 30%.
  3. A new regulation may require an additional compliance audit.
  4. A senior developer resigns unexpectedly.

Correct Answer: B — Opportunity

Explanation: The new tool could produce a beneficial outcome (shorter testing), which is a positive risk, i.e., an opportunity.

How To Land the Job and Interview for Project Managers Course

Take the next big step in your project management career with HK School of Management. Whether you're breaking into the field or aiming for your dream job, this course gives you the tools to stand out, impress in interviews, and secure the role you deserve.

This isn’t just another job-hunting guide—it’s a tailored roadmap for project managers. You’ll craft winning resumes, tackle tough interview questions, and plan your first 90 days with confidence. Our hands-on approach includes real-world examples, AI-powered resume hacks, and interactive exercises to sharpen your skills.

You'll navigate the hiring process like a pro, with expert insights on personal branding, salary negotiation, and career growth strategies. Plus, downloadable templates and step-by-step guidance ensure you're always prepared.

Learn from seasoned professionals and join a community of ambitious project managers. Ready to land your ideal job and thrive in your career? Enroll now and take control of your future!



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HK School of Management delivers top-tier training in Project Management, Job Search Strategies, and Career Growth. For the price of a lunch, you’ll gain expert insights into landing your dream PM role, mastering interviews, and negotiating like a pro. With a 30-day money-back guarantee, there’s zero risk—just a clear path to success!

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