Theresa Copeland RE: Week 5 Discussion Top of Form How important is Risk Management to a project? Risk management – “Risk management attempts to recognize and manage potential and unforeseen trouble spots that may occur when the project is implemented. Risk management identifies as many risk events as possible (what can go wrong), minimizes their impact (what can be done about the event before the project begins), manages responses to events that do materialize (contingency plans), and provides contingency funds to cover risk events that actually materialize. “(Larson, E. 2021 pg. 214). Risk Management’s importance to a project – Risk management allows you to identify your project's strengths, weaknesses, opportunities, and threats. Also, by planning for unexpected events, you can be ready to respond if something were to happen. Many factors make risk management important to a project. Planning for success – If you plan for internal and external risks at the beginning of a project, then you’re ready to handle any risks that may arise throughout the life of the project. This ensures your project will end successfully. Communicating risks – It is important to let the key stakeholders of the project know about any potential risks. After all, they are the main ones funding the project and should know what to expect as soon as possible. Proactive versus reactive – Creating and implementing a risk management plan is very important when it comes to the life of a project because it allows you to be proactive and take steps to mitigate the possible risks before they arise instead of constantly fighting them. Resources: Larson, E. (2021). Project Management: The Managerial Process. Bottom of Form Applied Final Project - Observation of Social Behavior This assignment will leverage your curiosity. It will invite you to explore your ideas and connect social psychology to daily life. The Observation of Social Behavior project is an integrative assignment that supports synthesis and the third learning outcome for the course: · explain and analyze the underlying causes of behaviors to inform decisions in social, personal, and professional interactions Objective: Design, conduct, and report on a brief study that uses naturalistic observation in a public/communal space to answer a research question you develop on a topic related to social psychology. Submit a 6- to 8-page, APA style research paper, that communicates how specific topics, theories, and research findings discussed in this course shaped: 1) your research question, 2) the approach applied and behaviors observed, and 3) your understanding of the observation(s) upon conclusion. What is Naturalistic Observation? In Principles of Social Psychology, our eBook for this course, Jhangiani and Tarry (2014) introduce observational research. In Chapter 1 they outline how observational research refers to different types of qualitative studies in which behavior is systematically observed and recorded i ...