Question $1($c$)$ Risk Management Process.

Choose an incident that happened before relating to college business locally or internationally and use item i to vii below in your explanation.

Eg$.$ College hostel was on fire when students use illegal water heaters causing serious power surge.

Graduated students$$ certificates disqualified due to failure of college in following Ministry Of Education$$s requirements.

College cash flows badly affected as college lose competition to scam colleges.

Elaborate:

i$.$ Background of the incident

ii$.$ Risk identification

iii. Risk analysis

iv$.$ Selection and implementation of techniques

v$.$ Risk control

vi$.$ Monitoring & reviewing

vii. Conclusion