FORMATIVE ASSESSMENT 2 [100 MARKS] Read the project scenario below and answer ALL the questions that follow SCENARIO You have been appointed as the head of a project, the scope of which entails the building of a new school in a poor residential area in Durban. The minister of basic education has had a meeting with you to brief you on the urgency of the project. The minister has reiterated the project risks that may be encountered and has requested that you give prudent attention to them in order to ensure that the project delivers on time, within budget, resources and quality. Analyse the following questions and develop your response to each one by clearly showing how you will manage the project using sound project management principles. Note: students are required to read beyond the scope of the scenario and module guide to answer the questions that follow. Foundations of literature include primary and secondary sources. QUESTION 1 (18 Marks) At the project start up meeting with your project team, provide a detailed assessment of five of the risk management principles that are appropriate in a project context. Assess each of them in the context of your project. QUESTION 2 (18 Marks) The minister has requested for feedback on the project risk management plan that you intend to adopt. Evaluate the topics that your will address in the risk management plan in the context of your project QUESTION 3 (18 Marks) Good project managers always have alternate plans to cater for the unforeseen. Assess the contingency plans, Fall-back Plans, and Contingency Reserves that you will put in place for your project. QUESTION 4 (18 Marks) Use the Problem Solving Approach to identify the project risks. Provide a detailed explanation of each step of the approach. QUESTION 5 (18 Marks) Now that you have identified all your project risks, prepare a risk response process. Assess the process in the context of your project.