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Would appreciate the help with these questions am a new project management student

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QUESTION 1
(20 marks)
Your company has partnered with a multinational organisation that has been granted the license to
conduct fracking (hydraulic fracturing /shale gas extraction) on a commercial level. The process will
be done in an area located in the Northern Cape Region of South Africa. The multinational has been
awarded a license to conduct fracking for the next ten years, after which the government will take
over the project.
Some community members are resisting the operation since they might be displaced.
Environmentalists are opposed to the entire operation, citing concerns of environmental degradation.
The opposition political parties are also weighing in on the issue with their negative opinions
1.1 You are required to identify ten stakeholders as part of the project initiation of the
(10)
"fracking" project management process
(Ensure that you identify the six stakeholders mentioned above as well as any four
others)
1.2 Each of the stakeholders will have different expectations on the organisation. The
(10)
expectations will be utilised to communicate with the stakeholders as and when
required.
Illustrate the expectations of ten stakeholders
QUESTION 2
(30 marks)
2.1 With the aid of suitable examples, carry out a risk management process for the above-
mentioned project in question 1
(Ensure that you use suitable examples of any situations that might threaten the
project. Simply listing the process will not be sufficient)
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Risk Management
Document
Plan and Control
Risk Management
Plan
Define
Identify
Quantify
Develop
Objectives
Risk
Risk
Response
Source: Burke (2018: 357)
The main processes in project risk management include:
1. Define objectives: The project's objectives are defined by the project charter, the project plan,
and the individual plans.
2. Identify Risk: Risk identification is the identification of areas of risk, uncertainty and
constraints which might impact on the project and limit or prevent the project from achieving
its stated objectives.
3. Quantify Risk: evaluate and prioritise the level of risk and uncertainty and quantify frequency
of occurrence and impact. Quantitative risk analysis is a way of numerically estimating the
probability that a project will meet its cost and time objectives (KPMG 2014:3)
A Qualitative Analysis is also carried out and it involves assessing the impact and likelihood of
the identified risks and develops prioritised lists of these risks for further analysis or direct
mitigation (WDOT, 2014: 3-1).
4. Develop Response: define how you are going to respond to the identified risks; eliminate,
mitigate, deflect or accept.
5. Risk management plan: the risk management plan documents how the project team propose
to tackle risks on the project.
6. Risk Control: the risk control function implements the risk management plan. This may involve
training and communication. As the risks and the work environment are continually changing,
it is essential to continually monitor and review the level of risk and your ability to effectively
respond

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