Question:

(a) Show two main approaches to identify risk in a project.

(b) John finds that IOE recovers some overheads as oncosts on direct staff costs although others are recovered by charging a fixed $200 per day against projects. Staff costs are as shown in table below. John has been working as project leader on the project for its duration. He also estimates that, in total, he will have spent an additional 10 days planning the project and carrying out the post project review.

(i) Evaluate the total costs for John's project on this basis.

(ii) How is the expenditure spread over the life of the project?