15 Feb Explain importance of involving stakeholders to determine risk objectives and standards. Q2: What is project risk context? Q3: Describe the five (5) valid and reliable risk identif

Please address all the questions below.
Answers should not be short.
References are required.
Q1: Explain importance of involving stakeholders to determine risk objectives and standards.
Q2: What is project risk context?
Q3: Describe the five (5) valid and reliable risk identification methods below to identify project risks.
Brainstorming
Stakeholder interviews:
Affinity diagram:
Requirements review:
Root cause analysis:
Q4: Describe risk categories/ classification used to classify project risks?
Also, List any ten (10) industry sector risk categories, and elaborate on them like below.
Scope risk
Scheduling risk
Resource risk
Technology risk
6 more industry sector risks….
Q5: Describe risk analysis classification criteria.
Q6: Describe importance of delegated authority while conducting risk analysis?
Q7: Describe risk priorities and how it is obtained in agreement with project client and other stakeholders.
Q8: Describe components required to be documented in the risk register based on the risk analysis to identify existing risk controls. Include information on how risk treatment will be handled in risk register.
Q9: What seven (7) steps to identify and document existing risk controls below? Describe them.
Establishing the context:
Identifying the risks or threats:
Assessment of the risks:
Potential risk treatment:
Creating the plan:
Implementing the risk management plan:
Review and the evaluation of the plan:
Q10: Describe four (4) risk treatment options below that can be used during risk management.
Risk transfer
Risk Avoidance
Risk retention
Risk control
Q11: Describe what is risk management plan and it’s any three (3) purpose.
Q12: Describe any five (5) types of risk review process that are used to monitor risk environment and maintain currency of the risk plan.
Risk control audits:
Risk insurance review:
Contract reviews (internal and external):
Review of internal processes
Incident report
Q13: Describe risk response and any five (5) criteria to make it effective.
Q14: Describe the process below to review project outcome to check effectiveness of risk management processes and procedures.
Problem Analysis:
Match the Outcomes of a Risk Management Plans with its Objectives:
Evaluate the Business Environment:
Make Possible Changes in Faulty Activities:
Review the Changed Activities:
Q15: Describe any three (3) finding that should be identified and documented after effective review of risk management plans.
Q16: Describe key components of a risk management plan below.
Risk Identification:
Risk Analysis:
Response Planning:
Risk Mitigation:
Risk Monitoring:
Q17: Describe organisational and industry standard for risk management.
Q18: Describe characteristics, techniques and appropriate applications of qualitative risk management techniques and approaches.
Q19: For quantitative risk management technique, describe its characteristics, techniques and appropriate applications.
That’s all.