Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:01,140 --> 00:00:04,410 How do you opportunity response planning? 2 2 00:00:04,410 --> 00:00:06,623 Similar to negative risk response planning. 3 3 00:00:08,030 --> 00:00:11,163 First, assign an owner for each opportunity. 4 4 00:00:12,380 --> 00:00:14,480 However, unlike negative risks 5 5 00:00:14,480 --> 00:00:16,750 where owners should be at the lowest level possible, 6 6 00:00:16,750 --> 00:00:18,450 closest to the risk, 7 7 00:00:18,450 --> 00:00:20,080 opportunity owners should be assigned 8 8 00:00:20,080 --> 00:00:22,140 at the highest level possible 9 9 00:00:22,140 --> 00:00:23,970 to not distract the team, 10 10 00:00:23,970 --> 00:00:26,633 often the Project Manager or senior leads. 11 11 00:00:27,900 --> 00:00:30,520 And whenever possible, try to assign owners 12 12 00:00:30,520 --> 00:00:34,670 completely outside the project team and offer to support. 13 13 00:00:34,670 --> 00:00:37,223 Especially for business development opportunities. 14 14 00:00:38,730 --> 00:00:41,430 Then, identify the most appropriate 15 15 00:00:41,430 --> 00:00:43,870 opportunity response category. 16 16 00:00:43,870 --> 00:00:45,923 The flip sides of the threat categories. 17 17 00:00:46,860 --> 00:00:50,770 First Exploit, the opposite of Avoid. 18 18 00:00:50,770 --> 00:00:53,110 The opportunity is so good you'll try 19 19 00:00:53,110 --> 00:00:54,613 to make it happen for sure. 20 20 00:00:55,970 --> 00:00:59,080 And Enhance, the opposite of Mitigate. 21 21 00:00:59,080 --> 00:01:01,037 You'll find ways to improve the opportunity 22 22 00:01:01,037 --> 00:01:05,683 by increasing the probability, time or cost advantage. 23 23 00:01:06,860 --> 00:01:10,170 And Share, the opposite of Transfer. 24 24 00:01:10,170 --> 00:01:12,840 You'll provide the opportunity to another organization 25 25 00:01:12,840 --> 00:01:15,640 or group and then share the benefit. 26 26 00:01:15,640 --> 00:01:17,480 For example, by licensing the project output 27 27 00:01:17,480 --> 00:01:20,103 to another firm to market and sell. 28 28 00:01:21,050 --> 00:01:22,880 And then finally, Accept. 29 29 00:01:22,880 --> 00:01:25,770 You can always just accept the opportunity and track it. 30 30 00:01:25,770 --> 00:01:27,970 Usually because the benefit is too low, 31 31 00:01:27,970 --> 00:01:29,520 or there is nothing you can do. 32 32 00:01:31,250 --> 00:01:33,140 Usually there are not enough opportunities 33 33 00:01:33,140 --> 00:01:36,000 to require qualification shortlisting. 34 34 00:01:36,000 --> 00:01:39,700 However, you should always perform a quantitative analysis 35 35 00:01:39,700 --> 00:01:43,780 to estimate the probabilities and time and cost advantages, 36 36 00:01:43,780 --> 00:01:46,073 and create an opportunity register. 37 37 00:01:47,460 --> 00:01:49,760 And then monitor and manage the opportunities 38 38 00:01:49,760 --> 00:01:52,280 appropriately once underway. 39 39 00:01:52,280 --> 00:01:54,480 Just don't get distracted from your main job 40 40 00:01:54,480 --> 00:01:57,123 of protecting the main project performance. 3480