Imagine you are considering opening a business. Share the type of business you would open. Then, create a list of the five most significant risks that you must address prior to making your decision regarding the viability of your venture. Justify the risks.
Using the information presented inÂ Practical Project Risk ManagementÂ in Figure 6-3, â€œCommon Influences on Risk Perception,” determine the conscious factors, subconscious factors, and affective factors for this project. Examine how awareness of such factors influences the decision to hire outside vendors. In addition, analyze how the stated factors help improve the overall facilitation and effectiveness of the risk management.
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