Time is of the essenceDUE IN 6 HRS IF YOU CANT DELIVER IN THAT TIME FRAME PLEASE DO NOT TAKE THIS ONYour director would now like to take the next step to identify the risks that could be associated with the procurement. Identify the risks and issues associated with procurement that could individually or collectively adversely impact the projects successful completion.Build a risk template. Diagnose project procurement risk types and provide examples of risks for a project. Include in your analysis a definition of risk management how to identify risks how to assess risk and how to determine a plan on how to close on identified risks. Be specific and detailed in your explanation.Create a project spreadsheet (MS Excel) with the following key risk categories identified: risk title likelihood impact compounded risk score or estimate monitory value assumptions and response.