# Opportunity An uncertain event or condition that, if it occurs, has a positive effect on one or more project objectives. Opportunities represent potential upside that can be actively pursued. Per AACE International recommended practices, opportunities are managed through four response strategies: - [[EXPLOIT]] — Ensure the opportunity occurs - [[ENHANCE]] — Increase the likelihood and/or positive consequence - [[SHARE]] — Partner with a third party to capture the benefit - [[ACCEPT]] — Welcome the opportunity if it occurs without active pursuit