You work for a small software house which has won a contract with a new client to design, develop and implement a replacement database system. The client is a medical research organisation and has a very small IT section. Your company has little experience in this business area. Your company has decided to use a new rapid development method for this project, and you have been appointed project manager.
a)	Explain the difference between project and business risk. Give ONE example of EACH of these two categories of risk that might affect your company when undertaking the IT project described above.
		(3 marks)

b)	List and explain the TWO factors used in evaluating risk exposure. Explain how each of these factors might be assessed quantitatively.
		(7 marks)
c)	Risks can be assessed both quantitatively, as above, and qualitatively. Discuss the way in which risks could be assessed qualitatively and how these qualitative assessments could then be used to prioritise risks.
		(5 marks)