The rapid spread of Covid-19 disease has changed the landscape for all agribusinesses and highlighted how extreme force majeure events affect business planning. This article presents student perceptions of risk management in their business planning activity before and after Covid-19, by comparing student responses to a survey during spring 2018, 2019, and 2020. The survey, filled out after a discussion of a diversified farm case study, indicate that over 90% of the students rated risk management as important or very important. The student responses on risk management were remarkably similar across 2018-20 and Covid-19 did not influence students excessively. The survey responses indicated that students were willing to spend up to 10-13% of sales revenues to manage risks, including that of social and environmental risks. To mitigate risks, students recognized diversification as a key strategy preferring to focus on fewer major products or enterprises, instead of numerous (equally weighted) smaller enterprises. The open comments indicated a much greater urgency to incorporate risks in business planning after Covid-19 incidence (spring 2020). The article also discusses the advantages of discussing business risks using simplified one-page canvases such as Business Model Canvas (BMC), Triple Layered BMC, Lean Canvas, and Strategy Sketch.