One of the best ways in which you can understand a concept is the use of perfect examples. Have you read the story of the ant and the grasshopper? These two animals have a thing or two to teach on risk management. Try and read the story and see what you got on risk management from the story by taking the quiz below.
Winter cold
Starvation from food shortage
Short days
Naturals disasters, e.g. snowstorms
The Ant
The Grasshopper
By taking an insurance
By working hard
By preparing for the risk event
The Ant didn't mange risk, he just was lucky
... the Ant averages the impact of the risk over time.
... the Ant increases the amount of food.
... the Ant increases the quality of food.
... the Ant stays fit and in shape.
Lack of information or knowledge
Overconfidence
Procrastination
Short-term thinking
Wait!
Here's an interesting quiz for you.