As a project manager the first thing I would do is brainstorm with my team all of the possible project and product risks in the initial risk management meeting. For future meetings I think it would be important to balance both a macroscopic and microscopic view of related risks. The major risks involved always need to be considered but time would also be devoted to addressing smaller risks that would only be relevant to the current phase of the project. Using a tool such as the risk matrix in the powerpoint, we would try to quantify these risks. Then we would discuss how to lower or limit these risks. After optimizing these risks, a decision would need to be made about whether or not each risk is acceptable and worth enduring. The last step would be documentation and creating a procedure for how to handle these risks.