Risk management basics: What exactly is it?

David Hillson, The Risk Doctor, explains how to structure your risk process by asking (and answering) these six simple questions:
Q1. What am I trying to achieve? (Objective setting)
Q2. What might affect me? (Risk identification)
Q3. Which of these are most important? (Risk assessment)
Q4. What should we do about the most important ones? (Risk response development)
Q5. Did it work? (Risk review)
Q6. What has changed? (Risk updates, Learning lessons)