Project risk is an uncertain event or condition that, if it occurs, has an effect on at least one project objective. Risk management focuses on identifying and assessing the risks to the project and managing those risks to minimize the impact on the project

2.1 Against this background, identify and describe ANY FIVE (5) categories of risk. (5 marks)

2.2 Many organisations have realised the importance of ensuring that risk management planning is properly conducted as it can determine the success of a project. You have been requested to identify and discuss the steps that should be followed when formulating a risk management plan. (15)