QUESTION $3$

$(20$ Marks$)$

Cability of the occurrence of risk events

and the impact of the risk events on a project. Risk assessment addresses issues such as: What can go wrong? How

likely is this to happen? If it does happen, what are the consequences? In essence, risk assessment is both proactive

and reactive measures to project risk management."

Discuss this statement with reference to the risk management plan process and cite examples to demonstrate your

understanding of the theory.