What are any four common categories of risk? What is an element of each category?

What will be an ideal response?

Risks commonly fall into one or more of the following classification clusters:
Financial risk refers to the financial exposure a firm opens itself up to when developing a project. — Up-front capital expenditures are at risk in any project.
Technical risk emerges when a project contains unique technical elements or new and unproven technology.
Commercial risk must be handled when a project is being developed for definite commercial intent since success in the marketplace is never guaranteed.
Execution risk is a broad category relating to the unknowns associated with the project plan being carried out.
Contractual or legal risk is consistent with projects in which strict terms and conditions, such as liquidated damages or cost-plus, have been drawn up in advance.
Staffing risks include events such as absenteeism, resignation, failure to secure needed skills, and ineffective training.

Business

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