Q1. Using the information presented in Common Influences on Risk Perception Figure 6-3 (Hillson & Simon text), see attachment , 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. Q2. Review the Monte Carlo Analysis method presented in Chapter 15 of the Hillson & Simon text. Then, determine whether you would recommend to a project manager the use of this methodology for a large, complex project. Include an example to support your response. If you would not recommend the use of a method such as Monte Carlo, explain what you would recommend as an alternative tool that would allow the project manager to make informed decisions. Provide a rationale for your recommendation.
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