Which Practice Area focuses on the assessment of risks or opportunities?

The Practice Area that focuses on the assessment of risks or opportunities is indeed Risk and Opportunity Management. This area emphasizes the identification, analysis, and mitigation of risks while also seizing potential opportunities that can enhance project performance and outcomes. Understanding and managing risks proactively are crucial for ensuring that projects remain on track and objectives are met despite uncertainties that may arise.

Risk and Opportunity Management involves systematic processes for identifying risks, evaluating their potential impact, and devising strategies to mitigate them. Additionally, it looks for opportunities that can be leveraged for improvement or innovation, making it a proactive approach that not only safeguards against threats but also promotes growth.

In contrast, the other Practice Areas mentioned do not prioritize risk assessment as their primary focus. Estimating is primarily concerned with predicting costs and resources required for a project. Implementation infrastructure deals with the systems and processes in place to support project execution. Process management addresses the optimization and standardization of workflows and procedures but does not specifically hone in on the assessment of risks and opportunities. This distinction clearly defines why Risk and Opportunity Management is the appropriate choice for this question.