Risk Enhancement is a risk response strategy that involves increasing the probability of occurrence or impact of an opportunity.
It seeks to strengthen the conditions that make the opportunity more likely to occur or to increase the benefit realized if it does occur, supporting the pursuit of positive risk in alignment with project or organizational objectives.
Key Characteristics
- Opportunity-Focused – Applied only to positive risks
- Probability or Impact Driven – Aims to increase likelihood, benefit, or both
- Strategic in Nature – Designed to create or amplify favorable outcomes
- Planned and Monitored – Integrated into the overall risk response plan
Example Scenarios
- Assigning more skilled resources to improve chances of early delivery
- Investing in high-performing technology to boost efficiency beyond projections
- Strengthening supplier partnerships to secure better pricing or delivery terms
Role in Opportunity Management
- Maximizes Value – Helps extract the greatest possible benefit from favorable conditions
- Supports Strategic Alignment – Encourages opportunity exploitation where it aligns with goals
- Informs Resource Allocation – Justifies additional investment in high-potential areas
- Complements Other Strategies – May lead to risk exploiting where conditions are optimal
See also: Risk Acceptance, Risk Avoidance, Risk Exploiting, Risk Mitigation, Risk Sharing, Risk Transference.