A common problem with Project Risk Management is that project teams spend effort in identifying and analyzing risks and developing risk responses, then risk responses are agreed upon and documented in the risk register and risk report, but no action is taken to manage the risk. As a follow up to Assignment 2, explain how you will:

1. Implement the risk responses identified. (20 points)
2. Monitor the risks. (30 points)
3. These are potential risks associated with TRANS LAN Project. 1.Budget Overruns: Response: Mitigate Reason: Regular monitoring and communication help prevent overspending, while seeking cost-saving alternatives lowers the risk of budget overruns. Mitigation Actions: Monitor expenses, communicate budget status with stakeholders, explore cost-saving options. 2.Technical Difficulties: Response: Transfer Reason: Technical difficulties often require specialized knowledge; outsourcing to experts can address issues promptly. Transfer Actions: Engage technical experts or consultants, maintain a list of potential technical experts for rapid response. 3.Inadequate Resources: Response: Accept Reason: Resource shortages can be beyond immediate control; accepting this risk acknowledges the need to manage it as it occurs. Create a Presentation of - 10 slides by using above risks and provide relevant and clear information for each slide