December
1998 QUESTION 2 Total Marks: 20 Marks |
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| 2. | (a) A key component of risk management is the ability to anticipate the
different types of risk involved in a project. Four sources of risk in a project are technical
risk, market risk, financial risk and human risk. Describe each of these four
types of risk and in each case provide an example of the risk.
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[8] |
| (b) In risk management we attempt to minimise the risks associated with a project. The process of risk management is usually described in four phases. Identify each of these four phases and explain carefully what is involved in each of them. | [12] |