A retail firm has a project that is focusing on expansion into third-world countries to sell pharmaceutical products. The project timeline is, as always, aggressive. The scope is well documented and understood by the project team and key members of the firm. The firm is financially sound, with project funds secure; however, the stakeholders expect that the project will pay for itself within 2 years of deployment.

• Explain the risk management process.
• Evaluate the role of risk management in the project planning process.
• Compare at least 2 risks and their sources for the selected scenario.
• Assess how risk management may mitigate the risks for each risk listed.
• Explain how you would document the risk

Risk event	Probability of risk event (1=high; 3=medium; 5=low)	Impact of risk event (1=high; 3=medium; 5=low)