#3: Risk Assessment - Quantitative and Qualitative Analysis Scenario: Construction and International Introduction: You are a seasoned risk management consultant, entrusted with a monumental responsibility that transcends both time and dollars. Your client, a prestigious multinational construction company, is embarking on a ground-breaking infrastructure project in a developing country. This project is not merely a construction endeavor; it's a transformative force. It carries the weight of history and the hopes of countless communities, for it involves the construction of a critical transportation link with an estimated value of over $1 billion. This endeavor holds the power to not only elevate the company's reputation but also drive the economic development of the entire region. Your role as a risk management expert is central to its achievement, as the timeline for this project is tight, and the stakes are exceptionally high. Scenario Background: The construction project you are about to assess is not just a construction project; it is a cultural, economic, and social game-changer. It involves the creation of a vital transportation link that will connect previously isolated regions, stimulate commerce, and improve the quality of life for countless people. The estimated total value of this infrastructure project is over $1 billion, making it one of the most substantial investments the company has ever undertaken. This project stands as the cornerstone of the region's development plans, with high expectations from governments, investors, and local communities. However, it's not just about dollars and cents; it's also about bridging cultural divides, understanding local norms, and navigating potential conflicts that may arise due to different worldviews, traditions, and expectations. As you embark on this journey, you'll be required to delve into the multifaceted world of risk management, accounting not only for financial risks but also for the intricate cultural and social factors at play in this developing country. Your recommendations and decisions will not only impact the project's timeline and budget but also its successful integration within the local community. Your role is not just that of a risk consultant; it's that of a cultural mediator and a strategic advisor in a venture of tremendous importance. The success of this endeavor is not just about achieving a construction milestone; it's about leaving a lasting legacy and making a positive impact on the lives of those who call this region home. Assignment Formatting: 1) Font times new roman size 11 2) 1" margins all around 3) Double Spaced 4) Please ensure you check your spelling and formatting Assignment #3: Risk Assessment - Quantitative and Qualitative Analysis Assignment Guidelines: Part 1: Title Page Part 2: Table of Content Part 3: Introduction Part 4: Risk Identification (10 points) 1) Identify at ten potential risks associated with the construction project. a. Ensureyourlistincludesamixofinternalandexternalrisks,suchas financial, technical, environmental, and socio-political risks. b. Provideabriefdescriptionofeachrisk. Part 5: Quantitative Analysis (25 points) 1) Select three (3) significant risks from your list and perform quantitative analysis for each. a) Use appropriate techniques, such as Probability-Impact Matrix, Expected Monetary Value (EMV), or Sensitivity Analysis. Show your calculations and reasoning for each risk. 2) Discuss the implications of your quantitative analysis results. How will these results influence the decision-making process for the project? Part 6: Qualitative Analysis (25 points) 1) Conduct a qualitative risk assessment for the remaining (7) risks on your list. a) UsemethodslikeRiskProbabilityandImpactAssessmentandRiskRanking. b) Explain the rationale behind your assessments for each risk. Part 7: Risk Mitigation Strategies (20 points) 1) Propose risk mitigation strategies for the three (3) risks you analyzed quantitatively. a) Be specific in your recommendations and consider both proactive and reactive measures