Consider the case study: EIOPAs Pension Fund Reporting System Project, to answer the following questions:

1. Discuss at least four cost overrun factors associated with the subcontracting for Pension Funds Reporting System project. Also provide mitigations for each identified factor (16)

2. Which decision should Joo suggest to the IT director? Discuss, at least three, advantages and disadvantages of cancelling or maintaining the contract with the consortium. (14)

3. Imagine that the IT Director argues that it is important to adhere to the timeline previously defined with NCA and finish the project on time without any budget increase. What actions should Joo implement to avoid further revisions of the contract and mitigate risk? (10)

4. Imagine that you could travel back in time to February 20, 2019, when Joo participated in his first Information Technology and Data Committee meeting. What would you do differently to prevent similar situations? Be sure to take into consideration the current public procurement legislation and the type of risk management approach. (10)