Qualitative Risk Assessment:You are a member of a project team that has been charged to develop a new product for the Construction Industry. Using a qualitative risk analysis matrix, develop a risk assessment for a project based on the following information:

Identified Risk Factors	Likelihood
Key team members pulled off project	High
Chance of economic downturn	Low
Project funding cut	Medium
Project scope changes	High
Poor spec. performance	Low

Based on the above information, how would you rate the consequences of each of the identified risk factors? Why?

Construct the risk matrix and classify each of the risk factors in the matrix.