The Module 3 of the ManagEnergy Master Classes focuses on Risk analysis & development of Guarantee Schemes. After having explored Project Finance (Module 1) and Corporate Finance (Module 2), the aim of this module is to increase the knowledge of participants in the development and use of financial instruments with a focus on Risks management so that they can plan and implement the most challenging investment projects. Note that this document only includes the Power Point Presentations made during the Module 3 Master Classes (26-28 June 2019 and 3-5 February 2020).