TechBridge Solutions is developing a comprehensive logistics management software for a logistics company. The program must integrate various critical systems, such as real$-$time GPS tracking, warehouse inventory databases, and client order systems. A major risk is that potentially any critical system in the software may fail, impose delays that may cost TechBridge and impact the project$$s scope, timeline, and budget. Risk Manager's role is to mitigate this possible risk, of a critical system failure and to evaluate the impact on the project's scope, timeline and budget. Contingency plan that includes regular testing of the integrated systems and a process for quickly identifying and resolving issues may be required from the project manager. QUESTION $1.$ Identify and contextualize the following risk management principles in the context of the project:

Understand the project$$s context,

Involve stakeholders,

Establish clear project objectives,

Develop the project risk management approach Report n risks regularly, Define clear roles and responsibilities,

Establish a support structure and a supportive culture for risk management,

Monitor for early warning indicators,

Establish a review cycle and look for continual improvement.

Use Harvard referencing not older than $5$years to reference the theory.