The class is starting a small manufacturing company. You will be manufacturing a wide variety of items and will take on new ones if there is a market and a strong potential for profit. The manufacturing plant will have lots of different kinds of tools, machinery and some hazardous materials. Make suggestions for developing Risk Management Checklist. A risk is any uncertainty about the future that threatens an individual's or organization's ability to accomplish a goal. Risk Management is an effort to develop sensitivity to the potential of any future event that could cause harm.