According to the PMBOK® Guide, specifically within the Plan Risk Responses process, risk response strategies are categorized based on whether the risk is a threat (negative) or an opportunity (positive).

Sharing (Positive Risk/Opportunity): This strategy involves allocating some or all of the ownership of an opportunity to a third party who is best able to capture the opportunity for the benefit of the project.

Mechanism: It often involves forming risk-sharing partnerships, teams, special-purpose companies, or joint ventures established with the express purpose of managing the opportunity.

Goal: To share the potential benefits with a third party who has specialized skills or resources that the project team lacks, thereby increasing the probability of the opportunity occurring or the magnitude of the benefit if it does.

Examples of Sharing:

A joint venture between two construction firms to bid on a massive infrastructure project that neither could handle alone.

Profit-sharing agreements with a vendor if they manage to reduce production costs below a certain threshold.

Comparison with other options:

A. Mitigate: This is a strategy for threats (negative risks). It involves taking action to reduce the probability of occurrence or the impact of a threat.

B. Transfer: This is a strategy for threats (negative risks). It involves shifting the impact of a threat to a third party, together with ownership of the response (e.g., buying insurance or using performance bonds). While it involves a third party, it is specifically for negative impacts.

D. Avoid: This is a strategy for threats (negative risks). It involves changing the project management plan to eliminate the threat entirely, such as changing the scope or extending the schedule to bypass a risky period.