This task is designed to be a mock risk assessment in WBO process in which you will practise Computational Thinking steps that you have learned in the previous quest. 

1. The first step will be breaking down the business model: please read “Business Model Review” and list the business operations, revenue streams, and critical resources on paper or a whiteboard.
2. Once you have listed, you also need to look at any common risk patterns and recurring issues in Closets & Binding Company and in the industry. Read “Company Historical Challenges and Trends Report” examine and note down recurrent issues in the industry and within the business that could pose risks.  
3. If you have noted down the recurrent issues, please fill out “Risk Identification Template” to catalogue potential risks. 
4. Since all risks may not impact on the business proportionately, thus one cannot address all equally. Therefore, you should distinguish between high-impact risks and less critical ones through “Risk Impact and Probability Chart” to prioritise risks based on their potential impact and likelihood. Before filling this out, please read “What is a risk assessment matrix? Why is it Important” to gain knowledge about the terms in the matrix. 

Risk identification and impact assessment are huge steps – you must have a clearer idea of what’s waiting for you. As you did in the previous quest, you should create an action plan or flow chart (Algorithm) –outlining steps to mitigate the highlighted risks by detailing actions considering if-then scenarios. Before creating a flowchart, watch Introduction to Creating Flowcharts video and start building your flowchart. If you like you can use ready-to-use templates in Canva (e.g. https://www.canva.com/online-whiteboard/flowcharts/ )