A clothes retailer which previously relied on high street stores has decided to close most of its stores and switch to online sales.

Question

Previously their website was used for marketing rather than e-commerce, so their online platform needs a complete redevelopment. The company has appointed the cheapest tender for the new site development and has set a very aggressive completion date.
a) Explain the difference between project and business risk. Give TWO examples of the project risks and TWO of the business risks that might affect the project described above.
b) List and explain briefly FIVE different methods of managing a risk.
c) Explain what is meant by a risk register and state its purpose. Describe the usual contents of the register.
d) Create a risk register for TWO of the risks that you identified in part a).

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