Read the case study below and respond to questions:

Mario of A-Four Printing in Melbourne, Australia, plans to start a new branch in regional Victoria. Sarah's risk assessment manager is a qualified ISO 9001 auditor and has worked with the Australian Government on several similar projects. Mario has asked Sarah to perform due diligence and detailed risk analysis and management of the business before suggesting a new branch in regional Victoria.

Sarah knows the importance of reviewing organisational processes and procedures before undertaking risk analysis and management according to the current risk management standards to establish risk context and scope. Considering the set requirements, Sarah has reviewed some options and shortlisted a few areas with better connectivity to public transport, good infrastructure and a skilled workforce.

As Sarah, Risk Assessment Manager at A-Four Printing, answer the following questions:

 
Flag question: Question 1
What steps must you take to establish the risk management context? Identify five (5) steps based upon the above-mentioned case study.

Write your answer in 150-200 words.