1. Preparation 151' Make sure you are familiar with the organisation you are basing this assessment on and have read through the necessary background information. For the case study business, this is all of the documents included in the Simulation Pack. If it's your own business or a business where you are working or are familiar with, have your business or case study approved by your assessor. Choose an appropriate risk management process or project and complete Page 4 of your Project Portfolio for this unit. Read through the requirements of Section 1, 2 and 3 of your Project Portfolio. 2. Establish the risk context [51' Complete Section 1 of your Project Portfolio. To do this, you need to: I determine the scope of your chosen risk management processiproject I evaluate organisational requirements and standards for managing risk I determine the legal requirements of your risk management processiproject I list resources available to address risk I establish objectives and critical success factors of the risk management processiproject I identify stakeholders who will be part of the risk management process. I communicate with at least two stakeholders to: o explain the risk management processiproject o invite stakeholders to help identifyr and assess risk. Continue completing Section 1 of your Project Portfolio. To do this, you need to I analyse the external environment of the risk management processiproject. I establish the strengths and weaknesses within your business that have the potential to create or impact risk. Make sure you have answered all questions in Section 1. Submit to your assessor for review. You are also required to attach certain documents as part of your evidence review the documents you need to attach as outlined in Section I of the Project Portfolio and make sure you attach these when you submit this section. You will use the work done in this section of the Portfolio to consult with stakeholders to assess and address risk