After carefully reviewing this week's lecture materials $($videos$,$ PPT lectures, and articles$),$ please respond to the following question$($s$)$:

$1.$ Let's engage in a scenario$-$based exploration of risk management by selecting one of the following business contexts! Apply the risk management process, encompassing risk identification, risk assessment, risk response development, and risk response control, to the scenario of your choice:

Market Expansion Project: Imagine you are leading a market expansion initiative for your company, aiming to enter a new international market. Delve into the risk landscape associated with this endeavor, identifying potential challenges, assessing their impact and likelihood, formulating effective risk responses, and considering mechanisms for ongoing risk control.

Product Launch in a Competitive Industry: Assume the role of a project manager tasked with launching a new product in a highly competitive industry. Explore the risks inherent in this scenario, covering aspects such as market dynamics, competitor actions, and unforeseen technical challenges. Systematically apply the risk management process to navigate and mitigate potential obstacles.

Technology Implementation Project: Picture yourself leading a technology implementation project within your organization. Whether it's a software upgrade or a system overhaul, examine the risks associated with technological advancements, including potential disruptions, integration challenges, and cybersecurity threats. Apply the risk management process to ensure a smooth and secure implementation.

In your response, detail the specific risks identified, provide a comprehensive assessment, outline your proposed risk response strategies, and discuss how you would monitor and control these risks throughout the project lifecycle.

Note:. In addition, follow APA guidelines and cite at least $1$ resource to support your discussions; be sure to include a reference section at the end of your post.