Risks are combination of the likelihood of an occurrence of a hazardous event or exposures and the severity of injury or ill health that can be caused by the event or exposure. Risks can be known and unknown.
In addition, Risks have positive or negative effects on at least one of the project objectives (Scope, cost, schedule, performance). Managing construction project risks is considered as compulsory for any project to be successful.
Tutorial 5 is ragarding to use the WBS to carry out a Risk assessment and analyze the project. The above table is the assessment and analysis of the Top 5 issue as well as the impact on the 2 of the Top risks.
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