Title: Develop a risk-management plan for an agricultural production enterprise.
Course: Operating the Farm Business (18301-III) > Section: Operating an Agricultural Business

Development should include

- analysis of types and amounts of insurance needed
- analysis of liability types (e.g., in an agritourism operation or in a production enterprise)
- the use of the futures market in protecting product price
- options for contract pricing (forward pricing) for products or services rendered.

Process/Skill Questions:

- What are potential consequences of not having a risk-management plan in place for an agricultural production enterprise?
- What resources are available to develop a risk-management plan for an agricultural production enterprise?
- How do fluctuations in input and output prices cause income gains and losses?