The Rules Of Project Risk Management

The evidence continues to grow that the effective management of risk is the very kernel of successful project management. Its absence frequently leaves project sponsors lamenting missed objectives and shareholders coming to terms with an organisation’s poor bottom line performance. Dr Robert Chapman's The Rules of Project Risk Management stands out from other risk management texts because it provides very practical guidance, supported by numerous mini case studies, many of which have attracted considerable publicity. The book brings to life both the benefits of project risk management when effectively applied and the ramifications when it is misunderstood or receives scant attention. The structure of the book is based on International Standard ISO 31000 seen through the lens of general systems theory - where projects are undertaken by organisations which have an external context and internal sub-systems. A project system is seen to be composed of seven key subject areas. Practical short ’rules’ or implementation guidelines, written in an engaging style, are offered to support each of these subject areas and aid quick assimilation of key risk management messages. Each rule focuses on a specific aspect of effective risk management which warrants attention in its own right. Taken together the rules will provide those implementing projects with the building blocks to secure a project’s objectives. They have been drawn from a wealth of experience gained from applying risk management practices across multiple industries from Europe to Africa, the Middle East and Asia.

The Rules of Project Risk Management, 2nd Edition, provides practical experience-based guidance to support the delivery of effective project risk management. While the discipline is recognised as a major contributor to the successful outcome of projects, its implementation is far from straightforward. Successful delivery requires an in-depth understanding of the "ingredients" of effective risk management practices which impact project performance. The book’s value is derived from the description of these ingredients in a manner which will support their practical implementation. The author describes a series of guidelines (labelled "rules") to support the practical application of project risk management to positively influence project outcomes. The rules are supported by mini case studies of both successful and unsuccessful projects to bring to life the ramifications of effective and poor risk management respectively, and are assembled under seven headings of environment, external stakeholders, organisation and culture, leadership and governance, internal stakeholders, risk resources and system. This second edition contains a new glossary of terms and an overview of the risk management process to enable those new to the subject to understand the core risk management activities. It also contains six more individual guidelines and ten more case studies to support practitioners, researchers and academics alike to gain an even greater appreciation of the drivers of successful project risk management. Enabling the reader to "get inside" risk management to gain an appreciation of the individual components and "how the engine works", this book is essential reading for project and risk management professionals. While the guidelines are described individually so specific subjects can be examined in detail, they must be considered together, for like a car, specialist carburettors, fuel injection or high-octane fuel on their own do not support improved performance. The guidelines can be considered as the elements that should be taken into account when compiling a risk maturity model to drive incremental improvement in risk management practices.

The evidence continues to grow that the effective management of risk is the very kernel of successful project management. Its absence frequently leaves project sponsors lamenting missed objectives and shareholders coming to terms with an organisation’s poor bottom line performance. Dr Robert Chapman's The Rules of Project Risk Management stands out from other risk management texts because it provides very practical guidance, supported by numerous mini case studies, many of which have attracted considerable publicity. The book brings to life both the benefits of project risk management when effectively applied and the ramifications when it is misunderstood or receives scant attention. The structure of the book is based on International Standard ISO 31000 seen through the lens of general systems theory - where projects are undertaken by organisations which have an external context and internal sub-systems. A project system is seen to be composed of seven key subject areas. Practical short ’rules’ or implementation guidelines, written in an engaging style, are offered to support each of these subject areas and aid quick assimilation of key risk management messages. Each rule focuses on a specific aspect of effective risk management which warrants attention in its own right. Taken together the rules will provide those implementing projects with the building blocks to secure a project’s objectives. They have been drawn from a wealth of experience gained from applying risk management practices across multiple industries from Europe to Africa, the Middle East and Asia.

The second edition of the Project Risk Analysis and Management Guide maintains the flavour of the original and the qualities that made the first edition so successful. The new edition includes: The latest practices and approaches to risk management in projects; Coverage of project risk in its broadest sense, as well as individual risk events; The use of risk management to address opportunities (uncertain events with a positive effect on the project's objectives); A comprehensive description of the tools and techniques required; New material on the human factors, organisational issues and the requirements of corporate governance; New chapters on the benefits and also behavioural issues

Integration, general approach and definitions - Risk identification - Risk assessment goals and methodology - Computer applications - Risk response and documentation - Management of contingency allowances - Managing the risks of the project's environment - Dealing with risks in contracts.

Project Risk Management Handbook Managing project risks professionally can be a very profitable activity. The Project Risk Management Handbook learns you how to accomplish this in your project and organization. organization. You learn: • 12 smart methods to detect risks • The 3 basic responses to deal with risks and opportunities • The best methods to analyze risks • How to involve your entire team in the risk management effort Risk Tests The handbook contains a number of practical tests that help you to identify the weak spots in your project and company, and implement project risk management effectively. A selection of the tests: • How risky is your project? • What should you do to improve project risk management? • What has project risk management contributed to your project success? The Project Risk Management Handbook is the book about project risks that should be on the desk of each project manager.

Winner of the Project Management Institute’s David I. Cleland Project Management Literature Award 2010 It’s no wonder that project managers spend so much time focusing their attention on risk identification. Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources. Identifying and Managing Project Risk, now updated and consistent with the very latest Project Management Body of Knowledge (PMBOK)® Guide, takes readers through every phase of a project, showing them how to consider the possible risks involved at every point in the process. Drawing on real-world situations and hundreds of examples, the book outlines proven methods, demonstrating key ideas for project risk planning and showing how to use high-level risk assessment tools. Analyzing aspects such as available resources, project scope, and scheduling, this new edition also explores the growing area of Enterprise Risk Management. Comprehensive and completely up-to-date, this book helps readers determine risk factors thoroughly and decisively...before a project gets derailed.