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Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project

Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project


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About the Book

All projects are inherently risky, and especially complex ones can potentially be the downfall for even the most experienced project manager. From technical challenges to resource issues to overwhelming and unrealistic deadlines to the rarely dependable commitment of your subcontractors, any number of things can go completely wrong-any day of the week! Therefore, perhaps the most essential component of every project manager's job is the ability to identify potential risks before they cause unnecessary headaches and turmoil all around.Fully updated and consistent with the Risk Management Professional (RMP) certification and the Guide to the Project Management Body of Knowledge (PMBOK®), Identifying and Managing Project Risk remains the definitive resource for project managers seeking to be pro-active in their efforts to guard against failure and minimize unwanted surprises. From being able to draw on real-world situations and hundreds of examples of those who have gone before them, readers of this third edition will learn how to:• Use high-level risk assessment tools• Implement a system for monitoring and controlling projects• Properly document every consideration• Personalize proven methods for project risk planning to fit their specific project• And moreComplete with fresh guidance on program risk management, qualitative and quantitative risk analysis, simulation and modeling, and significant “non-project” risks, this one-stop indispensable resource is what every project manager needs to eliminate surprises and keep their projects on task.

Table of Contents:
Contents Acknowledgments vii Introduction 1 CHAPTER 1: Why Project Risk Management? 4 The Doomed Project * Risk * Opportunities and Risks * Benefits of Project Risk Management * Costs of Project Risk Management * The Project Risk Management Process * Anatomy of a Failed Project: The First Panama Canal Project CHAPTER 2: Planning for Risk Management 22 Project Selection * Overall Project Planning Processes * Defining Risk Management for the Project * Risk Management Infrastructure for the Organization * The PERIL Database * A Second Panama Canal Project: Sponsorship and Initiation (1902--1904) CHAPTER 3: Identifying Project Scope Risk 49 Sources of Scope Risk * Defining Deliverables * High-Level Risk Assessment Tools * Setting Limits * Work Breakdown Structure * Other Scope-Related Risks * Documenting the Risks * Panama Canal: Setting the Objective (1905--1906) CHAPTER 4: Identifying Project Schedule Risk 79 Sources of Schedule Risk * Activity Definition * Estimating Activity Duration * Activity Sequencing * Documenting the Risks * Panama Canal: Planning (1905--1907) CHAPTER 5: Identifying Project Resource Risk 108 Sources of Resource Risk * Resource Planning * Staff Acquisition * Outsourcing * Effort Estimates Adjusted for Risk * Cost Estimates, Budgets, and Risk * Documenting the Risks * Panama Canal: Resources (1905--1907) CHAPTER 6: Managing Project Constraints and Documenting Risks 136 Analyzing Constraints * Managing Opportunities * Scope Modification * Resource Modification * Schedule Modification * Assessing Options and Updating Plans * Seeking Missing Risks * Creating a Risk Register * Panama Canal: Improving the Plan (1906) CHAPTER 7: Quantifying and Analyzing Activity Risks 161 Qualitative and Quantitative Risk Analysis * Probability and Impact * Qualitative Risk Assessment * Quantitative Risk Assessment * Panama Canal: Risks (1906--1914) CHAPTER 8: Managing Activity Risks 189 Root Cause Analysis * Categories of Risk * Selecting Risks to Address * Risk Response Planning * Dealing with Risk Causes * Implementing Preventative Ideas * Dealing with Risk Effects * Documenting Your Risk Plans and Risk Owners * Managing a Specific Risk * Bow Tie Analysis for Documenting Risk Responses * Panama Canal: Risk Plans (1906--1914) CHAPTER 9: Quantifying and Analyzing Project Risk 232 Project-Level Risk * Aggregating Risk Responses * Project Modeling and Simulations * Integrated Schedule/Cost Assessment * System Analysis * Critical Chain Considerations * Questionnaires and Surveys * Analysis of Scale * Project Appraisal * Scenario Analysis * Project Metrics * Financial Metrics * Panama Canal: Overall Risks (1907) CHAPTER 10: Managing Project Risk 276 Project Documentation Requirements * Project Start-Up * Selecting and Implementing Project Metrics * Establishing Reserves and Managing for Contingency * Project Baseline Negotiation * Project Plan Validation * Specification Change Control * Panama Canal: Adjusting the Objective (1907) CHAPTER 11: Monitoring and Controlling Risky Projects 299 Don't Panic * Applying the Plan * Project Monitoring * Collecting Project Status * Metrics and Trend Analysis * Responding to Issues * Communication and Risk Reporting * Project Archive * Managing Risk Reserves * Project Reviews and Risk Reassessment * Taking Over a Troubled Project * Panama Canal: Risk-Based Replanning (1908) CHAPTER 12: Closing Projects 321 Project Closure * Project Retrospective Analysis * Panama Canal: Completion (1914) CHAPTER 13: Program, Portfolio, and Enterprise Risk Management 330 Project Risk Management in Context * Program Risk Management * Portfolio Risk Management * Enterprise Risk Management * Panama Canal: Over the Years CHAPTER 14: Conclusion 367 Choosing to Act * Managing Your Risks * Panama Canal: The Twenty-First Century APPENDIX: Selected Detail from the PERIL Database 373 Scope Risks * Schedule Risks * Resource Risks Index 381

About the Author :
Tom Kendrick, PMP has over 35 years of project and program experience, including senior positions with Hewlett-Packard and Visa. A respected author, he received PMI's David I. Cleland Project Management Literature Award for the previous edition of this book.

Review :
"Detailed, well-organized and comprehensive, Identifying and Managing Project Risk takes you through the planning, assessment and responses required for any kind of project of any size." --Soundview


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Product Details
  • ISBN-13: 9780814436080
  • Publisher: HarperCollins Focus
  • Publisher Imprint: Amacom
  • Height: 25 mm
  • No of Pages: 400
  • Returnable: N
  • Sub Title: Essential Tools for Failure-Proofing Your Project
  • Width: 25 mm
  • ISBN-10: 0814436080
  • Publisher Date: 06 Mar 2018
  • Binding: Hardback
  • Language: English
  • Returnable: N
  • Spine Width: 25 mm
  • Weight: 453 gr


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