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Question 2 Read the scenario below and answer the questions that follow: You have been contracted to plan a music festival in the spring. This event will require promotions, volunteers, an artist line-up, food, and cleaning services. (Marks: 30) Q.2.1 With regards to managing risk answer the following questions. Q.2.1.1 Q.2.1.2 Q.2.1.3 Discuss what a risk is, and what the process of risk identification entails. Identify the main risk examples in the project scenario under the following categories: Technical ( 3 Risks) Sponsor/Customer (2 Risks) Based on the music festival above and any four (4) risks identified in Q.2.1.2, draw up a risk assessment matrix showing the risk response plan. Use the criteria as shown in the table below: (5) (5) (20) O The Independent Institute Of Education (Pty) Ltd 2023 22; 23; 24 Criteria Risks (4 risks required) Risk Impact Likelihood of occurrence/degree of impact (for each risk) Action on trigger/showing responsibility (per risk) Response plan (per risk) Page 3 Of 6 2023 Mark Allocation 4 4 2 2 8