QUESTION $4(25$ MARKS$)$

$4\mathrm{.}1$ Summarise the essential components of risk quantification that should be integrated into the risk model for the Hyperloop Project.

Explain how these components collectively contribute to comprehensive risk analysis, ensuring thorough identification, assessment, and management of project risks. $(15$ Marks$)$

$4\mathrm{.}2$ Using examples from the Hyperloop Project case study, summarise three benefits and two drawbacks of sensitivity analysis in project risk management.

Discuss how sensitivity analysis aids in understanding the impact of uncertainties on project outcomes and highlight its limitations in providing complete risk insights.