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In a 1,200-word essay format, synthesize the concepts from this week's readings as you respond to the following:
1. Evaluate and describe why project risks can/cannot be eliminated if the project is carefully planned.2. Elaborate on the possibilities of risk events occurring and their respective costs that increase change throughout the project life cycle. What is the importance of this phenomenon for a project manager?3. Discuss the difference between avoiding a risk and retaining a risk.4. Explain the difference between risk mitigation and contingency planning.
Answers must be substantive and contain research, analytical thinking and critical thinking skills. Don't just "copy and paste" your answers from the textbook, but answer in your own words (paraphrasing), unless you are directly citing a source. You should also cite references where appropriate.Include an in-text citation performance essay and include a minimum of two scholarly sources plus your textbook. Therefore, you must have a minimum of three sources.
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