QUESTION
(a) Risk has always been an intrinsic part of project management. With increasing market dynamic conditions, Safety and Health in workplaces, changing technology and globalisation. Risk management is gaining wider acceptance and importance and has become a must for project success
(i) Discuss the main components that are likely to be included in the risk management system
(ii) List five main items present in the Risk Log or Risk Register
(b) The purpose of Project Monitoring and Control is to evaluate and provide an understanding of the evolution and progress of a project. This enables measurement of project performance and directs appropriate corrective actions when deviations are noted. Briefly elaborate on the different methods for monitoring the project