Risk register

You have been asked to lead a project team developing the design for a new, all electric motor scooter.

1. Prepare a risk register for this project (please limit to one page). Subdivide the risks by categories. What are the main categories that you think should be in the register. What are your criteria for including or not including specific risk items?
2. Consider the team of professionals that you will need on the project and create an organizational breakdown structure. Assign responsibilities in the risk register.
3. Other than a list of risks, what other columns do you think the risk register should include?

Heuristics and biases

Explain the concept of judgmental "heuristics and biases" as conceived by Tversky and Kahneman.

1. What is an heuristic and what is a bias? How do they differ? What are their respective roles in human cognition of probabilities?
2. What kinds of heuristics do humans use to think through complex problems? Give three examples of heuristics and how they each affect judgment.
3. If you are trying to elicit an expert's judgment about the probability of some rare event happening that might affect your project, how might you use the concept of cognitive biases when you employ the expert's answers?