risk management and project cost control

you are new the project manager for the creation of recruitment procedures at your company. Your deliverables include processes and procedures for identifying talent. A critical factor is that your company handles secure information for its clients. All employees must pass very detailed background and security clearances. The director of your department has asked you to send a summary on the risks associated with this project and your process for managing it.
In a 1–2 page e-mail (submitted as a Word document) to your director, write your process for risk management.  The e-mail must include the following:  

• Define at least 2 risks to this project.
• Explain the benefits of using risk management as pertaining to your defined risks.
• Define the importance of using risk management specific to this project.
• Describe what may happen if risk management was not utilized.