Help - Virtual Disk Image

Hi everyone, I've been asked to create a VDI that contains (for an assignment, not a job):

Image - level back up;

File - level back up.

Critically analyse the fundamentals of the security risk management process.

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I'm so out of my depth here and have no idea where to start. I'm finding it difficult to find anything useful on the net - probably because I don't really know what I'm looking for. Can anybody help me with this? Thanks.