Zack is the Project Manager in the refurbishment of a soap making plant which is housed in an old building. The plant is to be used to train youths in the community and thus has Government support through funding and tax exemptions. Zacks team has identified some risks but all the team has done is to document the risks in a list. They never ranked the risks or developed any response strategies. Because the project has had several problems, such as key team members leaving the company, users being uncooperative, and team members not providing good status information, Zack has decided to be more proactive in managing risks. The Officials who have been listed as signatories for payments have had an impromptu workshop outside the country which will last $2$ weeks so authorization of payments for the new equipment has been affected. The company next door has handed in a complaint about the noise emanating from the project and the Environmental Management Agency has temporarily stopped the project.

Answer the following questions based on Joes project above.

Explain how risk management will help Zack achieve success in this project. $(3)$

Conduct an ICOR analysis for the project. $(5)$

For this project, identify two risks each under the categories of the PESTLE technique. $(12)$

Clearly assigning suitable values, explain the probability$/$impact matrix and use it to analyze the risks identified in $($iii$)$ above.