- A risk is an uncertain event that could impact plans if realized, while an issue is a risk that has already occurred. Risk management aims to prevent risks or minimize their impact. - Agile risk identification occurs through requirements workshops, planning poker, daily scrums, sprint reviews, and retrospectives. Risks are assessed based on probability and impact. - Common risk responses are mitigation, avoidance, containment, and evasion. Risks are regularly reviewed to ensure appropriate response and optimize the process. - Agile addresses issues daily in scrums and tracks reoccurring issues using snakes or calendars to improve over time.