Project Risk Management: Processes, Techniques and InsightsIn the estimating, planning, implementation and realisation of any project, large or small, an understanding of risk management is critical. The central aim of Project Risk Management is to set out the key issues and concepts involved in effective risk management in a clear and accessible way. The methodology is applicable to all kinds and all sizes of project, whether this warrants detailed, quantitative analysis or a "quick and dirty" approach using only qualitative analysis. Project Risk Management meets the growing need for a generic methodology employing a systematic approach to project risk management. A central concern of the authors is to provide a comprehensive discussion of risk management processes set firmly in the context of the project management task as a whole, with a view to improving project performance. Its emphasis is risk management rather than risk evaluation and it treats risk management as an "add in" (rather than as an "add on") to project management. Based on a sound conceptual foundation, developed to meet practical concerns, Project Risk Management is a clear, comprehensive guide relevant to anyone involved in managing a project. Project Management |
Contents
IMPLICATIONS OF THE PROJECT LIFE CYCLE | 13 |
MOTIVES FOR FORMAL RISK MANAGEMENT | 31 |
AN OUTLINE GENERIC PROCESS | 47 |
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Common terms and phrases
activities addressed Allocate stage approach appropriate aspects assess assumed base plan basic basis buckles changes Chapman Chapter client common complete concerned consider context contingency plans contractor decision decision tree Define phase deliverable dependence detail diagrams documentation earlier ensure Estimate phase Evaluate phase example expected cost expected value Figure Focus phase formal risk management Gantt charts Identify phase impact implications important influence diagrams initial involved issues judgements loops back opportunities organisation parties Plan phase Plan stage possible potential probability distribution Project Hierarchy project life cycle project management project planning project risk management project team purposes quantified reactive planning recognised reference plans relevant risk analysis risk drivers risk efficiency risk management process risks and responses scope semi-Markov process significant six Ws sources of risk specific tasks step strategy Structure phase Table target trade-offs uncertainty understanding variable whichway