This course explores risk analysis—the critical second step in the risk management process—by teaching school leaders how to evaluate the financial and non-financial impact of incidents, perils, and hazards across district operations. Participants will learn to use qualitative and quantitative analysis tools, including loss forecasting, root cause analysis, and key risk indicators, to prioritize risk treatments and refine insurance strategies. The course also reviews relevant Wisconsin statutes, operational and reputational risk considerations, and best practices for interpreting and communicating risk through data, reports, and stakeholder engagement.