The project Assessing and Reducing Risk for Young Producers addressed the need to help ag producers manage risk to maintain economic sustainability. We incorporated approximately 131 hours of risk management instruction into seven ag leadership trainings, with each session building upon the previous. A total of 41 risk management-related topics or value-added ag tours were presented during the year-long program. The risk management areas examined included: production risk (agri-tourism, insurance products, and diversification); marketing risk (market fundamentals, marketing strategies, branded marketing, direct marketing); legal risk (federal and state farm programs, RMA products, food safety liability); financial risk (value-added enterprises) and human risk (employee communication; health and stress; interpersonal, family and business relationships; transition and estate planning).
Training sessions were incorporated with leadership training workshops held in geographically diverse locations across Wyoming. Topic experts gave presentations and workshops addressing the above-listed risk management topics. Tours of value-added agricultural businesses and farm operations showcased enterprises that have developed sustainable operations by managing risk. The goal was for the participants to implement the methods and tools to manage risk in their own operations.
The ability to address all risk management areas with a small group was worthwhile, as evidenced by the excellent evaluations.