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(b) Describe a framework to assess the risks to the progress of the Giant Dam Project. Your answer shouldinclude a diagram to represent the framework. (6 marks)

发布时间：2025-11-12 15:58:55

推荐参考答案 ( 由题搜搜官方老师解答 )

答案：官方提供(b) Framework for assessing riskRisk is assessed by considering each identified risk in terms of two variables:– its hazard (or consequences or impact) and,– its probability of happening (or being realised or ‘crystallising’).The most material risks are those identified as having high impact/hazard and the highest probability of happening. Riskswith low hazard and low probability will have low priority whilst between these two extremes are situations where judgementis required on how to manage the risk.In practice, it is difficult to measure both variables with any degree of certainty and so if is often sufficient to consider eachin terms of relative crude metrics such as ‘high/medium/low’ or even ‘high/low’. The framework can be represented as a ‘map’of two intersecting continuums with each variable being plotted along a continuum.