What is an Opportunity (Positive Risk)?
An opportunity is a risk with an upside — an uncertain event that would help objectives if it occurred. It gets the full risk treatment: identified, scored, and responded to with the positive strategies: exploit (make it certain), enhance (raise probability or impact), share (partner to capture it), accept, or escalate.
The professional failure mode is asymmetry: registers packed with threats, zero opportunities — which means the project is managing fear but not luck. The exam expects both hunted with equal method.
Worked example
Mid-project, a neighboring site's early finish might free its tower crane two months ahead of the market rate. The PM doesn't hope — she enhances: negotiates a conditional booking now, at a small deposit, capturing $120K of savings if the neighbor's schedule holds. It lands on the register with a probability, an owner, and a trigger date, exactly like a threat — because methodically, it is one, pointed the other way.