Identify 2 risks in your personal life that you can use to assess in this assignment.

Describe in sufficient detail what the size and the impact of the risk is. Use any material available to help you quantify the likelihood / probability of the risk. You will need to describe the consequence of the risk and the likelihood of its occurrence.

Use the risk matrix to plot the inherent risk of the activity.

Determine what mitigations, actions and strategies you can implement to reduce the consequence of the risk or change the likelihood (hint: it is often difficult to change the likelihood if the activity is going to continue, but not impossible). Make a complete list of things you can do and be clear whether the action addresses the consequence or the likelihood.

Then plot the residual risk of the activity on the risk matrix.

Complete the above activities for each of the three risks that you identify ensuring that 2 are work related and one is personal life related.

Describe the process by which you would monitor and subsequently control the risks as the activity progresses to be done.

Please explain in detail the risk analysis, risk response planning and use of the risk matrix for each example