How do you define 'a risk'? What is 'managing a risk'? How do you manage risks in your personal life, does this help in deciding how to manage risks in a business context? Can you measure in monetary terms the value of effective preparation for adverse events when they do not materialise and if so how? How do you decide on the level of resources to devote to risk management training? Setting a target or objective introduces a risk that it is not achieved - how should such risk be managed