Answer ALL questions. Question 1 (40 marks) LetTMs suppose the project described in Assignment 1 section Problem Background 1 has been approved. The project manager therefore, developed the work breakdown structure (WBS) " the list of tasks (shown in the Appendix) to be performed Explore the various project management software tools, from the more complex (e.g. Microsoft Project, etc.) to simple solution (e.g. Microsoft Excel, etc.). Then, choose one of the software to complete the following tasks: (a) Create the project schedule (Appendix Table 1 and Table 2) for scheduling and tracking. The schedule must reflect task dependencies, allocation of resources, etc. For this project, let us assume the use of a standard calendar, i.e. 5 working days per week, and 8 hours a day. [20 marks] (6) Develop a Gantt chart for the project. [10 marks] (c) Report your experience using the tool-challenges, pros and cons. [10 marks] Question 2 (20 marks) Managing risks on projects is a process that includes risk assessment and a mitigation strategy for those risks. Risk assessment includes both the identification of potential risk and the evaluation of the potential impact of the risk. Read the case study Lukas (2002). How did the Capital Management System (CMS) project team manage the project risk in order to help ensure project success? Guidelines: Your discussion should include the following three risk management aspects adopted by the CMS project team: - Risk identification - Risk evaluation / analysis - Risk response planning / risk mitigation Include examples and proper citation sources, if any. Answer ALL questions. Question 1 (40 marks) LetTMs suppose the project described in Assignment 1 section Problem Background 1 has been approved. The project manager therefore, developed the work breakdown structure (WBS) " the list of tasks (shown in the Appendix) to be performed Explore the various project management software tools, from the more complex (e.g. Microsoft Project, etc.) to simple solution (e.g. Microsoft Excel, etc.). Then, choose one of the software to complete the following tasks: (a) Create the project schedule (Appendix Table 1 and Table 2) for scheduling and tracking. The schedule must reflect task dependencies, allocation of resources, etc. For this project, let us assume the use of a standard calendar, i.e. 5 working days per week, and 8 hours a day. [20 marks] (6) Develop a Gantt chart for the project. [10 marks] (c) Report your experience using the tool-challenges, pros and cons. [10 marks] Question 2 (20 marks) Managing risks on projects is a process that includes risk assessment and a mitigation strategy for those risks. Risk assessment includes both the identification of potential risk and the evaluation of the potential impact of the risk. Read the case study Lukas (2002). How did the Capital Management System (CMS) project team manage the project risk in order to help ensure project success? Guidelines: Your discussion should include the following three risk management aspects adopted by the CMS project team: - Risk identification - Risk evaluation / analysis - Risk response planning / risk mitigation Include examples and proper citation sources, if any