Project opportunity

Success Problem

Project opportunity is a stochastic event with a positive empact on the project success. Project opportunity can be also an early recognized and correctly managed project risk.

Impact

Project opportunity impact has positive value. The project opportunity is formulated by the means of event description and its expected value. The opportunity premium of a project is defined as a sum of expected values of all project opportunities in question (providing that they are independent of each other and all are possible to occure).

Recommendation

Project opportunity efect is either increase of the number, scope and quality of planned project deliverables or decrease of planned project costs, or shortening of the planned project duration. These economic gains follow from favourable change of the way of activity performance following the exploitation of the project opportunity.

Category

• Risk & Opportunities