QUESTION $2$

Life is uncertain, and projects are unique, complex in nature, based on assumptions and done by people. Therefore, projects are subject to a plethora of uncertainties, i$.$e$.,$ risks and opportunities, that can affect the project and business objectives. Although the activity is usually referred to as project risk management, it covers both risk and opportunity management. Potential positive and negative outcomes deserve equal attention.

$2\mathrm{.}1$ Briefly describe what is a risk matrix. $(3)$

$2\mathrm{.}2$ There are more than nine risk categories available, mention and briefly explain three risk categories. $(6)$

$2\mathrm{.}3$ State three potential impacts that a risk can have on a project. $(3)(12)$