On the risk side, you must deal with both revenue and price risk. These are different things with different risk management tools.
When risk management is not done well a business faces:
The basic idea is to reduce the chance of bad things happening and increase the chance of good things happening. On the opportunities side, if you do risk management well, you can reduce volatility and risk on the downside, but you can still maintain the opportunity to benefit on the upside.
This can help you: