Question 1 (Marks: 10)
Read the scenario below and answer the questions that follow:
You have been contracted to design and develop an expense tracking system for a start‐up
financial institution. The application should allow users to track and log their current and historical
finances on the app and make predictions on their future expenses for the coming month.
Q.1.1 Discuss three steps that need to happen in the planning phase of this project. (5)
Q.1.2 Discuss why it is important to develop a set criterion when selecting a project (5)
Question 2 (Marks: 30)
Read the scenario below and answer the questions that follow:
You have been contracted to plan a music festival in the spring. This event will require
promotions, volunteers, an artist line‐up, food, and cleaning services.
Q.2.1 With regards to managing risk answer the following questions.
Q.2.1.1 Discuss what a risk is, and what the process of risk identification
entails.
(5)
Q.2.1.2 Identify the main risk examples in the project scenario under the
following categories:
Technical ( 3 Risks)
Sponsor/Customer (2 Risks)
(5)
Q.2.1.3 Based on the music festival above and any four (4) risks identified in
Q.2.1.2, draw up a risk assessment matrix showing the risk response
plan
for each risk. (10)
Q.2.2 Discuss why it is important to have a contingency plan in place for managing risks in a project. (5)