FORMATIVE ASSESSMENT 2 [100 MARKS] Read the scenario below and answer ALL questions that follow PROJECT TASK The office of the South African state president has been experiencing electricity interruptions due to load shedding being administered by Eskom. Our president has requested that a backup electrical system be installed in the building so as to provide electricity especially during load shedding. When the back-up system is installed, our state president's office will have electricity 24 hours a day including during load shedding and any electricity interruptions times. As a project manager at our president's office, you have been tasked to manage the back-up project end to end. Your mandate as a project manager, amongst others, is fo ensure that the risks associated with the project is managed well so as to deliver the project within time, budget, resources and quality. GENERAL COMMENTS Marks in the project assessment are primarily awarded for the application of the relevant theory to the requirements of the assessment Merely reproducing theory is deemed inadequate. The ability to undertake and reflect on research is a key component to the assessment. The assessment will be assessed in accordance with the following general criteria: 1. Presentation 2. Organisation 3. Analysis and application of theory 4 Relevance 5. Coherence 6. References The expected response to the assessment is outlined above However, the depth of the theory is such that students may provide answers that may vary. The assessment is therefore assessed by the marker in terms of the relevant theory and marked accordingly. The responses provided by students may not in their entirety be reflected in the marking guide, but could be a safisfactory response to the question. Students are given full recognition for this. QUESTION 3 (20 Marks) Apply the project risk management principles to the project, in order to mitigate against the associated risks. QUESTION 4 (20 Marks) Analyse the benefits of implementing project risk management that may be derived for the project. QUESTION 5 (20 Marks) Refer to the general topics that any risk management plan should address. Apply the topics addressed in a risk management plan and relate these topics to the project