The document discusses risk management strategies for the construction of the Sydney Opera House. It identifies key risks that contributed to cost overruns and schedule delays such as an unrealistic initial cost estimate of $7 million, an incomplete design that lacked structural details, failure to control escalating costs, and pressure to accelerate the construction schedule. These risks led to a final cost of over $100 million, over 15 times the initial estimate, and completion 14 years late. The project was also impacted by political risks like deceptive cost disclosure and design changes.