Managing Risk in Projects
Ashgate Publishing, August 2009, Pages: 126
Projects are risky undertakings, and modern approaches to managing projects recognise the central need to manage the risk as an integral part of the project management discipline. Managing Risk in Projects places risk management in its proper context in the world of project management and beyond, and emphasises the central concepts that are essential in order to understand why and how risk management should be implemented on all projects of all types and sizes, in all industries and in all countries. The generic approach detailed by David Hillson is consistent with current international best practice and guidelines (including 'A Guide to the Project Management Body of Knowledge' (PMBoK) and the 'Project Risk Management Practice Standard' from PMI, the 'APM Body of Knowledge' and 'Project Risk Analysis & Management (PRAM) Guide' from APM, 'Management of Risk: Guidance for Practitioners' from OGC, and the forthcoming risk standard from ISO) but David also introduces key developments in the risk management field, ensuring readers are aware of recent thinking, focusing on their relevance to practical application.
Throughout, the goal is to offer a concise description of current best practice in project risk management whilst introducing the latest relevant developments, to enable project managers, project sponsors and others responsible for managing risk in projects to do just that effectively.
List of Figures
List of Tables
Foreword
Preface
CHAPTER 1 UNCERTAINTY AND RISK
Current sources of uncertainty
Responding to uncertainty
Distinguishing between uncertainty and risk
A pragmatic distinction
Three refinements
Not all uncertainty is risk; all risks are uncertain
CHAPTER 2 RISK AND PROJECTS
What’s wrong with projects?
Why are projects risky?
Why manage risk in projects?
‘Risks’ or ‘risk’?
Why is risk management important to projects?
CHAPTER 3 MANAGING RISK IN PRACTICE
Towards a risk management process
From narrative to reality
Describing the risk process
Not ‘one-size-fits-all’
More than a process
CHAPTER 4 RISK AND PEOPLE
Understanding risk attitude
Influences on the risk attitude spectrum
Risk attitudes and decision-making
Risk attitudes and the risk process
Managing risk attitudes
People plus process
CHAPTER 5 INTEGRATING RISK MANAGEMENT WITH WIDER PROJECT MANAGEMENT
Managing risk throughout the project lifecycle
Contribution of risk management to other project management
disciplines
‘Built-in not bolt-on’
CHAPTER 6 THE BIGGER PICTURE
Strategy, tactics and projects
Hierarchy of objectives, hierarchy of risk
Project risk management in the programme context
Enterprise risk management as an integrative framework
CHAPTER 7 MAKING RISK MANAGEMENT WORK
Risk energetics
Internal factors
External factors
Risk energetics across the project lifecycle and beyond
Proving it works
Why bother?
And finally…
References and Further Reading
Index
Dr David Hillson PMP FRSA HonFAPM FIRM FCMI is an international risk management consultant, and Director of Risk Doctor & Partners. He is a popular speaker and author on risk and is widely recognised as a leading thinker and practitioner in the risk field. David has made several innovative contributions to improving risk management. He is an active member of the Project Management Institute (PMI), a founder member of its Risk SIG, and is currently PMI Risk SIG Director of Technical Development. He received the PMI Distinguished Contribution Award for his work in developing risk management over many years. He is a Honorary Fellow of the UK Association for Project Management (APM) and past chairman of its Risk SIG. David is also a Fellow of several other professional bodies, including the UK Institute of Risk Management (IRM), the Royal Society for the Encouragement of Arts, Manufactures & Commerce (RSA), and the Chartered Management Institute (CMI).
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