5. Risk Assessment (15 pts.) You have the following table summarizing the risk assessment data of the project you are currently working on: Scenario/Event Likelihood (2) Consequence (C) Risk Score (Millions) (2x) 1 in 10 years (1/10) $100 10 2 1 in 500 years (1/500) $1,000 1 in 50 years (1/50) $500 10 1 in 10 years (1/10) $20 2 5 1 in 100 years (1/100) $300 6 1 in 10 years (1/10) $800 80 1 2 3 4 3 Perform the following: a. Construct a risk matrix (i.e., a "Likelihood vs. Consequence" matrix) b. Provide your analysis about the risk matrix and the risk prioritization to recommend mitigation strategies (you do not have to recommend specific mitigation strategies). Try also to prioritize the events based on the risk score and explain differences and challenges. c. Can one use risk-based decision-making only in this process? Justify your answer 5. Risk Assessment (15 pts.) You have the following table summarizing the risk assessment data of the project you are currently working on: Scenario/Event Likelihood (2) Consequence (C) Risk Score (Millions) (2x) 1 in 10 years (1/10) $100 10 2 1 in 500 years (1/500) $1,000 1 in 50 years (1/50) $500 10 1 in 10 years (1/10) $20 2 5 1 in 100 years (1/100) $300 6 1 in 10 years (1/10) $800 80 1 2 3 4 3 Perform the following: a. Construct a risk matrix (i.e., a "Likelihood vs. Consequence" matrix) b. Provide your analysis about the risk matrix and the risk prioritization to recommend mitigation strategies (you do not have to recommend specific mitigation strategies). Try also to prioritize the events based on the risk score and explain differences and challenges. c. Can one use risk-based decision-making only in this process? Justify your