A "metric" in this context is a system of related measures that helps us quantify characteristics or qualities. Any individual or enterprise needs to be able to quantify risk before they can decide whether or not a particular risk is critical enough to commit resources to manage. If such resources have been committed, then we need measurements to see whether the risk management process or procedure has reduced risk. And all forms of enterprises, for financial profit or for social profit, must strive to reduce risk. Without risk metrics, enterprises cannot tell whether or not they have reached risk management objectives. Enterprises including businesses hold risk management to be as important as any other objective, including profitability. Without risk metrics to measure success, failure, or incremental improvement, we cannot judge progress in the control of risk.

The initial post should be substantive and be supported by course concepts and posted by Wednesday.

1. Design a brief risk management policy statement for a small child-care company. Remember to include the most important objectives.
2. For the same child-care company, create a risk identification list and plot the risks on a risk map.
3. Identify the nature of each risk on the risk map in terms of hazard risk, financial risk, business risk, and operational risks.
4. For the child-care company, do you see any speculative or opportunity risks?

Can you please help me understand this? Not sure get what they want.