1. What further methods could have been used to generate ideas for the identification part of the risk process?
2. How scientific can the method that was used to rank the risks claim to be?
3. What should happen as the project progresses to manage risk? Suggest a plan for the remainder of the project (the three months up to the business launch).

Four friends wanted to start a business. After much discussion, they had hit upon the idea of launching a mail-order toys and games business. They were in the development stage of their business plan and wanted to be sure that they had been thorough with their planning. To reinforce this, they had just received a letter from a group of venture capitalists, agreeing to fund the start-up. It concluded its review of their plan by stating: