Question 3 (a) Define risk in the context of projects. (b) (c) (d) Demonstrate if risk...

  

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Question 3 (a) Define risk in the context of projects. (b) (c) (d) Demonstrate if risk management is a proactive approach or a reactive approach. Differentiate between avoiding a risk and accepting a risk. Further illustrate this with relevant examples. Your team is embarking on a simple project to bake a cake. Your team lists the following possible risks. Poor air quality due to build-up of heat in kitchen. 1. 2. 3. 4. Injury from lifting of heavy items. Burn from hot appliances. Fire from either appliances or ingredients. Based on these four risks, construct a simple Risk Assessment Form with THREE (3) parameters. Question 3 (a) Define risk in the context of projects. (b) (c) (d) Demonstrate if risk management is a proactive approach or a reactive approach. Differentiate between avoiding a risk and accepting a risk. Further illustrate this with relevant examples. Your team is embarking on a simple project to bake a cake. Your team lists the following possible risks. Poor air quality due to build-up of heat in kitchen. 1. 2. 3. 4. Injury from lifting of heavy items. Burn from hot appliances. Fire from either appliances or ingredients. Based on these four risks, construct a simple Risk Assessment Form with THREE (3) parameters.

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a Risk in the context of projects can be defined as potential problems or adverse events that could occur during the project lifecycle and impact the ... View the full answer