1. Qualitative Risk Assessment: You are a member of a project team that has been charged to develop a new product for the Construction Industry. Using a qualitative risk analysis matrix. develop a risk assessment fora project based on the following information: Identified Risk Factors Likelihood Key team members pulled off project High Chance of economic downturn Low Project funding cut Medium Project scope changes High Poor spec. performance Low Based on the above information, how would you rate the consequences of each of the identified risk factors? Why? {10 points) Construct the risk matrix and classify each of the risk factors in the matrix. {10 points) 2. Quantitative Risk Assessment: Assume the following Information: 0 Probability of failure - Maturity = .3 - Complexity = .3 - Dependency = .5 o Consequences of Failure - Cost = .1 - Schedule = .7 - Performance = .5 Calculate the overall risk factor for this project. (9 points) Would you assess this level of risk as low, moderate. or high?Why? (3 points)