Instructions:

You are required to develop some risk management practices for any business/firm. Kindly apply the following steps:

• Select any business or firm and design the risk management policy based on the steps we covered in the lecture:
• Risk Management Plan should be designed in very detail.
• Key Risk Indicators (KRI) should be mentioned in detail. KRIs should be explored through Brainstorming technique. There should be at least 10 KRIs.
• Develop an 'Ishikawa Diagram' for those KRIs.
• In the next phase, analyze those KRIs through qualitative method i.e. developing 'probability and impact matrix'. Prioritization of Risk Indicators through Probability and impact matrix is must.
• In the fourth step, mention how those individual risks should be treated and responded.
• In the last, explain in detail what ways should be used to manage those identified risks.

At the end of the process, you must develop and maintain the risk register. You can t