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I would like you to do your own informal risk assessment. Identify 3 risks in your life. For each of them, determine the likelihood and impact of the risk. In addition, I want you to tell me how you respond (mitigate) that risk.
I’ll give you an example, but you can’t use this one!
Risk: There is a risk I could get in a car wreck.
Likelihood: Low. It’s not like people get in daily car accidents.
Impact: High. I could lose my car, I could have hospital bills, I might not be able to work.
Response: I lower my risk by getting car insurance and health insurance. I don’t speed and follow the driving rules. I also drive an SUV, which I feel protects me more than smaller cars.
Make sure to include your name at the end of subject line with your descriiption. In your response, expand on the other person’s analysis. Do you disagree with the impact or likelihood? Are there additional responses that would help mitigate the risk?
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