In terms of risk you should control what can be controlled. What you can't control should be managed.
Risk can only be controlled or managed if it is first identified.
The stress and cost involved in fixing a situation gone bad is greatly disproportionate to preventing it in the first place.
Screening potential business partners, informing decisions about purchasing businesses and checking the backgrounds of potential love interests are the three main reasons we are asked to conduct due diligence. After all, life is a risky business.