All projects are inherently risky because they are unique in some ways, constrained and sometimes complex, based on the assumptions performed by the project team.

Describe the six (6 No.) activities in the Project risk management process utilized when planning projects.

[6Marks]

(b) Explain in detail, five (5 No.) methods of risk response strategies citing examples in each case.

[10Marks]

(c) One of the tools for qualitative risk analysis is the Probability/impact risk rating matrix. Explain, with the aid of a diagram, how this tool is used for the analysis of risks during project planning.