$1.$ What is risk, risk management, and purpose of risk management?

$2.$ What are the different processes involved in calculating an event$$s loss expectancy? Adam is the risk manager for a large organization. He is evaluating whether the organization should purchase a fire suppression system. He consulted a variety of subject matter experts and determined that there is a $1$ percent chance that a fire will occur in a given year. If a fire occurred, it would likely cause $$2$ million in damage to the facility, which has a $$10$ million value. Given this scenario, what is the annualized loss expectancy $($ALE$)?$

$3.$ What are the key points that should be considered during the monitor and control risk response phase of the risk management process.

$4.$ What are the functions of a disaster recovery plan $($DRP$)?$