QUESTION THREE

$[25]$

Uncertainty is often at its highest during the early phases of the Project Life Cycle, particularly during initiation and planning, when key decisions must be made despite limited information. These earlystage uncertainties often stem from unclear project scope, untested assumptions, immature design data, volatile market inputs, and stakeholder ambiguity. If not addressed rigorously, these uncertainties manifest downstream as cost overruns, delayed delivery, technical rework, and scope creep.

You are a senior risk advisor on a R$1,5$ billion capital project $($choose from construction, renewable energy, or ICT infrastructure$).$ You are required to develop a comprehensive strategy for managing uncertainty from the initiation to the planning phase of the $($chosen$)$ project.