Business Management Assignment Help

Business Management Assignment Help

Case Study: Risk Management and Evaluation 

Nuclear energy is one of the possible alternative energy to meet the increasing energy demand in the world. Unlike coal and gas, nuclear power can be considered as clean from pollution. In this context, the UAE has increased its focus on this energy in order to comply with its vision of being a clean industrial country that sustain environment and people. As the risk manager of a project sponsored by Barakah, you are assigned the role of managing and evaluating risks that might affect the project during the execution phase. The project is scheduled to start from July 2021, it consists of power plant extension that include expanding the power plant building and installing new electrical machines to boost the produced electric power. During a brain storming session, you discovered that the current pandemic, due the COVID-19, could be a triggering event that might lead to the occurrence of several risky events. The following represents data about the project prior to the risk study:

Table: Power Plant Extension Project – Data

Part I:Risk Management

As the head of the project risk management team, you will perform some of the risk management steps by replying to the following questions:

Questions:

1.      Propose four possiblerisk events that could be triggered by the COVID-19 pandemic and explain how they might affect the project.

2.      For each proposed risk event, propose a risk response plan to face or overcome the risk (Note that risk response plans should be different for each risk event).