At the project planning phase of Sydney Light Rail, the existence of the factors such as project scope changes, lack of the experience and skills of the project team, disputes and litigation, and schedule delays is uncertain; they should be treated as potential risk events and need to be managed. Use risk management theory to design a risk management plan to manage these risk events to reduce the mispricing outcome. The risk management plan should include the risk assessment, risk response strategy, etc. Discuss your rationale. You can suggest certain assumptions when assessing risk events. Mention the sources.

Answer rating: 100% (QA)

Risk Management Plan 1 Risk Assessment a Identifying Risk Events The risk assessment process involves identifying the potential risk events that could affect the Sydney Light Rail project Based on the ... View the full answer