The section on risk management in your business plan demonstrates to your potential sponsors, partners, donors or other stakeholders that you are aware of potential threats to your institution's well-being and that you have developed plans to manage these.

For this purpose you should list and prioritise the potential threats that you have identified, e.g., in your market research and analysis. It is important to make these threats visible and to demonstrate to potential donors, partners and sponsors, which corresponding actions you will be taking in order to avoid any negative impacts. We propose to develop a risk portfolio and then develop suitable strategies - this approach is demonstrated under Examples and Worksheets.

Typical examples of threats are: lack of available and qualified trainers and experts, economic crisis, dependence on good will of public authorities or organizations, low credibility of services offered, new competitors, lack of appropriate financing, etc.