Question 1

How might the "Bowtie" diagram serve as a framework for identifying risks during a Delphi workshop?Explain how a risk breakdown structure, together with descriptions of the project objectives such as scope, schedule, cost, health and safety, reputation, and environment, help to identify risks and their causes.

Question 2

Explain why the final investment decision (FID) is normally postponed until theend of the define phase. What is the likely status of theproject management plan at that point?Are the uncertainties in the cost and schedule of carrying out or executing the project work more clearly defined at the end of the define phase?