MANAGEMENT

Detailed explanation-1: -So the level of uncertainty and risk is highest during the Conceptual and Development Phases and, as more information about the project is known, it will gradually be reduced through the Execution Phase.

Detailed explanation-2: -The Initiation process is where stakeholders have the greatest ability to influence outcomes of the project. Risk is highest during this stage because of the high degree of unknown factors.

Detailed explanation-3: -Project uncertainty refers to uncertainty surrounding goals, defined by the project [30]. It is primarily related to project performance measures such as time, resources and quality and stems from the variability in estimates [7].

Detailed explanation-4: -Level of uncertainty (risk of failing) and Stakeholders; Influence is: highest at the start of the project.

Detailed explanation-5: -A more forward-thinking approach is uncertainty-based management, which derives planning, monitoring and management style from an uncertainty profile comprising four uncertainty types-variation, foreseen uncertainty, unforeseen uncertainty and chaos.