Read the case below and answer the questions. Support your answers with relevant examples.

1. Jewels was starting a project to resource one of her biggest selling products within her confectionary business. She needed to be sure that the new supplier would not let her down.

• What four categories of risk should Jewels research?
• What type of matrix could Jewels use to evaluate the impact of each risk?
• Name two financial checks that Jewels should conduct on potential suppliers

2. Delilah has invented a new style of drawing which has never been seen before. Her concept is based on computer-generated art and can be printed and framed. Some of her early prototype work is hanging in a local library. If there is a demand Delilah will take orders for art commissions from the local community.

• What type of IP protection should Delilah take out against her idea?
• What could Delilah do to help ensure nobody copies her work that is in the library?
• What type of insurance should Delilah take out?

3. Discuss the Procurement practices that drive risk in any project.