BUS 519 Risk Perception Using the information presented in Common Influences on Risk Perception Figure 6-3 (Hillson and Simon text), determine the conscious factors, subconscious factors, and affective factors for this project. Examine how awareness of such factors influences the decision of hiring outside vendors. In addition, analyze how the stated factors help improve the overall facilitation and effectiveness of the risk management.

Outsourcing has become such an important part of business today. It can help lower production costs, complete projects faster and allow for expansion. But there can be many risks involved with it as well. Conscious factors can include familiarity, manageability, proximity, propinquity, and organizational culture. Subconscious factors include...