A risk is uncertain event that has potential to cause harm or being an opportunity to the business. Management means to plan, control and make decisions. Why risk management? Risk management is to ensure that you anticipate potential events that could cause profits or a loss to the business, and to prevent unexpected bad events that could threaten success. The whole objective is to ensure that the business is a going concern. You don’t want to come to work and find the company has been closed because it has a lot of accumulated debts. It has not been paying staff…