Which of the following is NOT a component of positive risk management strategies?

Effective positive risk management strategies focus on identifying opportunities that can be leveraged for the benefit of the project. In this context, the correct answer highlights a component that does not align with the proactive nature of managing positive risks.

Risk enhancement, risk sharing, and risk exploitation are all strategies aimed at taking advantage of identified opportunities. Risk enhancement involves increasing the chances or positive impact of an opportunity. Risk sharing distributes the potential positive outcomes (or benefits) among multiple parties, thereby enabling a collaborative approach to maximizing opportunities. Risk exploitation is about ensuring that the identified opportunities are realized to their fullest extent.

On the other hand, risk avoidance is a strategy more commonly associated with negative risks, as it entails altering project plans to circumvent potential threats. Hence, it does not fit within the framework of strategies designed to manage positive risks, which focus on leveraging opportunities rather than avoiding or eliminating risks. This distinction reinforces why risk avoidance is not considered a component of positive risk management strategies.