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Use the Case Study BAA Heathrow Terminal 5, your own reading and research and risk management concepts and models to develop an understanding of the

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Use the Case Study BAA Heathrow Terminal 5, your own reading and research and risk management concepts and models to develop an understanding of the requirements to develop a risk management process for large scale projects involving infrastructure. You must develop a Business Report that focuses on three key areas that summarises your understanding of risk management in this context. Develop a bespoke risk management plan for the case study by engaging with the literature. Identify and justify Key Performance Indicators to rate the effectiveness of the bespoke process you have developed. Identify risks by researching the literature and justify your answer. Develop a risk criteria. Therefore, assess and analyse the risks by developing a probability impact model and risk register. Develop mitigation to be included in the risk register by researching the literature. Explain how Monte-Carlo simulation can be used in the context of the case study and in particular how the Monte-Carlo results can be used in decision making about fixed price and cost plus contracts

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