(4) Risk Analysis Case Nuclear energy is one of the possible alternative energy to meet the increasing energy demand in the world. Unlike coal and gas, nuclear power can be considered as clean from pollution. In this context, the UAE has increased its focus on this energy in order to comply with its vision of being a clean industrial country that sustain environment and people. As the risk manager of a project sponsored by Barakah, you are assigned the role of managing and evaluating risks that might affect the project during the execution phase. The project is scheduled to start from July 2021, it consists of power plant extension that include expanding the power plant building and installing new electrical machines to boost the produced electric power. During a brainstorming session, you discovered that the current pandemic, due the COVID-19, could be a triggering event that might lead to the occurrence of several risky events. The list of activities that need to be completed during the project is given in the following table Activity Description Plant specifications study B environmental impact study C Engineering study Demolition, remodeling and D dust control E Enter additional electrical machines and equipment Job-site security On site execution of the building extension H On site execution of the machinery implementation Testing the new building with 1 machines onboard security control and safety monitoring a) Briefly discuss why risk management is important for this project. (5 points) b) Propose two possible risk events that could be triggered by the COVID-19 pandemic and explain how they might affect the project. (5 points) c) Propose two responce strategy to overcome the two risk events you discussed in (b). (5 points) d) Discuss the types of the risk responce strategies you proposed in (C) (i.e., mitigating risk, avoiding risk, transfering risk or retaining risk.) (5 points) (4) Risk Analysis Case Nuclear energy is one of the possible alternative energy to meet the increasing energy demand in the world. Unlike coal and gas, nuclear power can be considered as clean from pollution. In this context, the UAE has increased its focus on this energy in order to comply with its vision of being a clean industrial country that sustain environment and people. As the risk manager of a project sponsored by Barakah, you are assigned the role of managing and evaluating risks that might affect the project during the execution phase. The project is scheduled to start from July 2021, it consists of power plant extension that include expanding the power plant building and installing new electrical machines to boost the produced electric power. During a brainstorming session, you discovered that the current pandemic, due the COVID-19, could be a triggering event that might lead to the occurrence of several risky events. The list of activities that need to be completed during the project is given in the following table Activity Description Plant specifications study B environmental impact study C Engineering study Demolition, remodeling and D dust control E Enter additional electrical machines and equipment Job-site security On site execution of the building extension H On site execution of the machinery implementation Testing the new building with 1 machines onboard security control and safety monitoring a) Briefly discuss why risk management is important for this project. (5 points) b) Propose two possible risk events that could be triggered by the COVID-19 pandemic and explain how they might affect the project. (5 points) c) Propose two responce strategy to overcome the two risk events you discussed in (b). (5 points) d) Discuss the types of the risk responce strategies you proposed in (C) (i.e., mitigating risk, avoiding risk, transfering risk or retaining risk.) (5 points)