Question 1
Research and identify one (1) potential project risks of each risk category

Risk categories Potential project risks
Communications
Financial
Legal
Physical (health and safety)
Project processes
Technology

Question 2
Outline elements of the risk management plan, and explain how each of them is important.

Question 3
Referring to your answer to Question 1, suggest a way you could control any three of the project risks that you found. (You should identify the risks you are referring to when specifying your controls).

Question 4
Think about the general of business industry, select and identify one (1) risk from and classify it according to the probability (i.e., the likelihood) and the consequence of it happening. From this classification, specify if the risk is low, medium, or high.
Guideline to learner: you should determine an appropriate ranking for this.

Question 5
Identify three (3) things an organisational or industry standard risk framework should include.

Question 6
Explain how industry standard risk frameworks help organisations to manage risks.

Question 7
Explain the risk management process and the basic procedures this involves

Question 8
Describe the term of qualitative risk analysis and quantitative risk analysis.

Question 9
Provide one example of both qualitative and quantitative analysis in risk management and what they set out to achieve.

Question

Question 1
Research and identify one (1) potential project risks of each risk category

Risk categories	Potential project risks
Communications	
Financial	
Legal	
Physical (health and safety)	
Project processes	
Technology	





Question 2
Outline elements of the risk management plan, and explain how each of them is important.












Question 3
Referring to your answer to Question 1, suggest a way you could control any three of the project risks that you found. (You should identify the risks you are referring to when specifying your controls).



Question 4
Think about the general of business industry, select and identify one (1) risk from and classify it according to the probability (i.e., the likelihood) and the consequence of it happening. From this classification, specify if the risk is low, medium, or high.
Guideline to learner: you should determine an appropriate ranking for this.











Question 5
Identify three (3) things an organisational or industry standard risk framework should include.



















Question 6
Explain how industry standard risk frameworks help organisations to manage risks.











Question 7
Explain the risk management process and the basic procedures this involves 




Question 8
Describe the term of qualitative risk analysis and quantitative risk analysis.









Question 9
Provide one example of both qualitative and quantitative analysis in risk management and what they set out to achieve.

Accepted Answer

Sia