Assignment 1 Critical Evaluation of Front-End Risk Management in Major Infrastructure Projects Background: Risk management is universally acknowledged as a pivotal factor in the successful execution of major infrastructure projects. However, a prevalent issue in the field is the inadequate implementation of risk management strategies during the initial stages of these projects. This often results in excessive residual risk being carried into the delivery phase. It is hypothesized that this inadequacy in front-end risk management contributes significantly to the failure of many major projects in meeting their anticipated cost, time and benefit targets during the delivery and operational stages. Some experts in the field have even postulated that the current approach to risk management is fundamentally 'broken'. Task: You are required to compose a comprehensive report critically evaluating the execution of front-end risk management in major infrastructure projects. Your evaluation should address the following key questions: 1. Why is front-end risk management frequently executed poorly in major infrastructure projects? 2. What are the intrinsic challenges that make effective risk management a difficult process, particularly in adequately de-risking projects before their delivery phase? 3. In light of these challenges, what recommendations can be proposed to enhance the risk management process, thereby improving the success rate of major project deliveries? Guidelines: * Your analysis should be underpinned by relevant theories, frameworks, and evidence from academic literature, case studies, and industry reports. * Critically appraise both the theoretical and practical aspects of risk management in the context of major infrastructure projects. * Your recommendations should be pragmatic, considering the complexities and scale of such projects. * Ensure that your report is structured logically, with clear arguments, and supported by evidence. * This report is to be no more than 3000 words excluding references. Your report will be evaluated based on the following: * Depth and breadth of critical analysis * Integration of relevant theories and practical evidence * Originality and feasibility of recommendations * Clarity of expression, logical structure, and adherence to academic standards of writing * Proper citation of sources, in Author-Date (Harvard - DU) style and adherence to