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Risk Seeking

A utility-function stance where a stakeholder favors higher-risk choices, even when they offer only a small potential increase in project value or benefits.

Key Points

  • Reflects a convex utility curve: uncertain outcomes with potential upside are preferred over safer options of similar expected value.
  • Leads to selecting high-variance strategies and more aggressive opportunity responses (exploit, enhance).
  • Must align with organizational risk appetite and tolerances and be recorded in the risk management plan.
  • Impacts reserve planning and decision techniques (e.g., EMV adjusted by utility) and requires clear stakeholder communication.

Example

A product sponsor chooses an unproven cloud service that might cut costs by 3% but carries notable integration risk, preferring the uncertain upside over a stable vendor with nearly the same expected benefit.

PMP Example Question

During release planning, the sponsor consistently selects options with higher uncertainty for only a minor potential gain in benefits compared to safer alternatives. Which utility-function category best describes the sponsor?

  1. Risk-averse
  2. Risk-neutral
  3. Risk-seeking
  4. High risk appetite but risk-averse utility

Correct Answer: C — Risk-seeking

Explanation: Choosing greater uncertainty for a small possible increase in benefit indicates a risk-seeking utility preference.

Leadership for Project Managers Course

Lead with clarity, confidence, and real impact. This Leadership for Project Managers course turns day-to-day challenges—unclear priorities, tough stakeholders, and cross-functional friction—into opportunities to guide teams and deliver outcomes that matter.

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Expect hands-on frameworks, real-world examples, and guided practice to prepare for tough moments—executive readouts, resistance from stakeholders, and high-stakes negotiations. Downloadable templates and checklists keep everything actionable when the pace gets intense.

Ready to influence without waiting for a bigger title? Join a community of ambitious PMs, sharpen your edge, and deliver with purpose—project after project.



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