Types of Risks
▪Risks may differ depending on the nature, size or location of the project or business. Eg. A mining project may face different risks from that of manufacturing.
▪Risks may also result from the presence or absence of a particular activity or service or non-occurrence or occurrence of an event, as well as change in policy or regulation. Eg. irregular supply of raw materials, machinery breakdown, labour unrest, market price fluctuations, changing trends and fashions, error in sales forecasting, fire, flood, earthquakes, riots or war, political unrest, changes in regulations and government policies.