1. Define a stakeholder and how you would identify them. Give also examples of stakeholders in your education. (4 points)

2. Pretend you are the mayor of a city that wants to attract a new sports team by building an awesome stadium. The stadium will go in a residential neighborhood where a school used to be. You have drawn up the plans, you have private investors to pay for 1/2 the stadium, you have contractors ready to start construction. You just need the citizens to approve a bond to pay for the other 1/2 of the stadium. EXPLAIN who the various stakeholders are in this scenario. Try to identify as many as you can. How would each of them be impacted if the project moves forward? How might they be impacted if it doesn't? Start with what you read in the book, then be creative and apply those concepts in order to answer this question. Usually, your answer to this question will take at least 1/2 a page single spaced, often a bit more. Plan accordingly, thanks. (5 points)

3. If there is a 30% chance that a machine will break during your project, and if a new machine costs $90,000, what is the expected value of this risk? (2 points)

4. If there is a 20% chance that it will rain while you are replacing the roof on your house, and water damage to your house will cost $20,000 to repair, what is the expected value of this risk? (2 points)

5. You are managing a website development project using some new technologies. The computer programmers you have chosen are fairly new to these technologies. There is a 10% chance they will not be able to properly finish the site, and you'll have to scrap their work and start over from scratch. If the programmers will cost $100,000 total to develop this site, what is the expected value of the risk that they will not be able to complete the site? (2 points)

6. For the scenarios in questions 3,4 and 5, what are three ways in which you could manage the risks that you have identified in these projects? GIVE THREE PRACTICAL EXAMPLES. You can apply all three examples to a single scenario above, give one example per scenario, or any combo you want. But you'll be providing three practical examples of how risk can be managed.

As always, the more complete your answers, the more credit I will provide. For the "expected value of risk" problems, show your formulas. (15 points)