. Explain the concept of risk management and its objectives. - Describe the steps in the risk management process. . Explain the major risk-control techniques, including avoidance, loss prevention, and loss reduction. - Explain the major risk-nancing techniques, including retention, non-insurance transfers, and insurance. . Apply the principles of risk management to a personal risk management program. Your discussion should be supported by the relevant academic debates and appropriate examples from the world of practice