Question: Although various tools are available to support the risk management process, difficulties are encountered when project risk management is carried out in practice. The number

Although various tools are available to support the risk management process, difficulties are encountered when project risk management is carried out in practice. The number and variety of potential project risks are high, and these risks range from personal, internal, organizational, technical, and commercial risks to economic, environmental, and political risks. Apart from quantitative risks, a number of qualitative risks influence a project's success: diverging expectations and interests among internal and external stakeholders concerning one another or how project success is perceived; severe gaps between formulated project goals and the short and medium outputs, long-term outcomes and impacts that they result in; and ill-defined project goals.

a) In view of the above, discuss why it occasionally seems too difficult for project managers to grasp the whole complexity of a project, identify the essential risks and react accordingly.

b) Design an innovative systemic tool that can help identify risks and uncertainties and understand their dynamics and effects on the project:

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