Which term refers to taking steps to ensure a risk event occurs?

The term that refers to taking steps to ensure a risk event occurs is risk exploitation. This involves actively seeking to capitalize on a risk or opportunity that can be beneficial to the project. Recognizing that not all risks are detrimental, this approach embraces certain risks to turn them into advantages. For example, if a project involves the introduction of a new technology with associated risks, the project manager might choose to pursue those risks deliberately if they believe the potential rewards outweigh the downsides.

In contrast, other terms denote different approaches to risk management. Risk sharing involves distributing the risk across multiple parties to lessen the impact on any single entity. Risk mitigation refers to taking action to reduce the likelihood or impact of a negative risk event. Risk avoidance means making choices to eliminate the risk entirely, preventing it from occurring. Each of these options represents a different strategy, but exploitative actions are specifically designed to embrace and leverage risks for the benefit of the project.