Business Finance Homework Help

I need an explanation for this Management question to help me study.

Conducting a risk assessment is an important aspect of risk management components. It allows the organization to identify, assess, and prioritize organizational risks. If risk assessments are not conducted on a regular basis, organizations may be left unaware of where critical assets live and the risks to those assets. In order to evaluate the likelihood and impact of threats, you will need to identify potential risks. There are several techniques used to conduct risk assessments. Assume you were asked to conduct a risk assessment within your own organization. How would you begin this process? What techniques would you use? Whom would you involve? Discuss various risk assessment techniques with your classmates.

After posting your initial response, please respond to two of your peers by the end of the module week.