Question:

(a) Risk has always been an intrinsic part of project management. With increasing market competition, technology, and globalization, risk management is continuously gaining wider acceptance and importance and has become compulsory for project success. Discuss the main components that are likely to be included in the risk management system.

(b) Explain the integration of the Work Breakdown Structure and the Organizational Structure in projects.

(c) "Allocating extra resources to a project that cannot be completed on target, allows it to catch up with its project schedule". Discuss this statement.