simple 3 sentence response agreeing to this post. and why The basic process for accomplishing a risk analysis involves brainstorming things that could go wrong and negatively impact the end goal. A business must consider how it can prevent or manage issues as they occur. It must also be realistic about potential danger signs or difficulties so we can avoid or minimize damage to the company that would be impossible to repair. When considering a new business opportunity, such as an acquisition, a business should be mindful of the challenges related to technology, funding/cash-flow shortages, staffing issues, supply chain interruptions, industry competition, and legal problems. If a business is proactive, it would perform a risk analysis and risk management plan to be prepared for anything that may come up later. The process for drafting a risk management plan involves methods or approaches for dealing with these risks that were identified during the risk analysis. A company must focus on high priority risks in the risk assessment. A risk management plan addresses the actions that a company may need to take to prevent or minimize the impact for each risk.