Using relevant examples, advise a project manager such as Robert Adams on the benefits associated to project risk management. WATERFALLL SOFTWARE DEVELOPMENT Robert Adam, the project manager of Renegade, just received a notification that his project was in an idle stage for four hours due to a specification confict. The confict came from the disagreement of how to accomplish one of the project tasks. Dangerously, the disagreement was built around specification deviations, thus delay of the project was likely inevitable. Robert was well aware that his project would make no progress until this issue was resolved. Consequenty, if the project did not meet the specifications during the review, it would not progress at all until a correction had been made or modification to the specification document had been approved and recorded. This imitated Robert. So, he called for an emergency meeting with the involved parties. RENEGADE Renegade is a health insurance provider in the southeast region. The company has employed the "waterfall" methodology for their software development projects. The waterfall methodology is based on the assumption that projects can be managed better when segmented into a hierarchy of phases, stages, activities, tasks, or steps. The waterfall methodology therefore directs a software development project to progress in an ordery sequence of development steps. This also means concurrent development steps of a project are prohibited. Renegade has experienced a rapid growth over the years. In just a short five - year span, the numbers of subscribers has increased from two hundred thousand to more than one million subscribers. Management predicts even more growth. This number is only the subscribers, and their dependents are not included in this number. Therefore, the rapid growth of subscribers means extensive data to manage for Renegade. The company has been using Microsoft Access as their data management system. Renegade realizes the limitations of MS Access in managing large amounts of data, now that they have to deal with their aggressive demands. Therefore, an upgrade to more sophisticated data management systems is a must. After some research, top business managers decided to convert the database management system to Oracle, which should have been able to provide flexibility, ability to manage huge amounts of data, expandability, and referential integrity. To respond to this need, Renegade initiated a project whose purpose was to implement. Oracle database with proper connectivity to the existing system, and Safe data transfer from MS Access to Oracle Project Budget: R 200,000 Project Duration: 10 weeks The pharmacy department (PD) was responsible for the project and its cost The PD selected Robert Adam as the project manager and Leila Rakoba as the business analyst, both of whom were very experienced individuals. Robert was the main person in charge of any problem/issuelconcern regarding the project. He was responsible for all aspects of the project, including project schedule, development matrix, budgeting, and issue escalations. Leila was the major point of contact for the user. She was