As humans, with a bounded rationality and incomplete view of the world, our communication and decision making ability is limited. Someone take a shot at the concepts of anchoring and group think. This question needs to be at least 100 words MIN. In your own words no copy and paste.

You have been hired by a small start-up to run one of their first projects. You have had your first risk planning workshop and developed a risk list. The team is new and unfamiliar with project risk management. How would you explain to them the reasons for and concepts behind probability and impact. How would you explain the necessity for these steps?