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

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9780814436080: Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project

Projects—especially complex ones—are inherently risky. Between time constraints, technical challenges, and resource issues, things can easily go wrong—making the identification of potential risks an essential component of every project manager's job.

Fully updated and consistent with the Risk Management Professional (RMP) certification and theGuide to the Project Management Body of Knowledge (PMBOK®), Identifying and Managing Project Risk remains the definitive resource for project managers seeking to guard against failure.

Drawing on real-world situations and hundreds of examples, the book outlines the risk management process and provides proven methods for project risk planning. Readers will learn how to use high-level risk assessment tools, implement a system for monitoring and controlling projects, and properly document every consideration. Analyzing aspects such as project scope, available resources, and scheduling, the third edition also offers fresh guidance on program risk management, qualitative and quantitative risk analysis, simulation and modeling, and significant "non-project" risks.

This practical book will help readers eliminate surprises and keep projects on track.

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From the Inside Flap:

Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources . . . which is why the identification of potential risks is an essential part of your job as a project manager. Things that can go wrong often do, so to plan for success, you need to have a thorough understanding of the risks inherent during every phase of the project life cycle.

Drawing on real-world situations and hundreds of examples, this book outlines the risk management process and provides proven methods for project risk planning. Long considered the definitive resource for project managers seeking to guard against failure—and now 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 is the one book no project manager should be without.

Outlining proven methods, demonstrating key ideas for project risk planning, and showing how to use high-level risk assessment tools, the book details what many once considered a truly impossible project—the building of the Panama Canal—to demonstrate key ideas in the risk management process. You’ll become familiar with essential concepts involved in project risk planning, with indispensable guidance on topics such as:

· The benefits and uses of risk data

· Setting limits and defining deliverables

· Procurement planning and source selection

· Constraint management and risk discovery

· Quantitative and qualitative analysis

· Project simulation and modeling

· And much more

The book also contains sections on the different types of risk to consider when planning; cost estimating and budgeting; how to identify key issues associated with project metrics; Work Breakdown Structure (WBS); analysis of scale; and activity sequencing. You’ll learn how to properly document every possible consideration; implement a complete system for monitoring and controlling projects; and use high-level risk-assessment tools.

In addition, the Third Edition moves beyond risk management basics such as insurance, financial, and investment portfolio risk to offer fresh, up-to-the-minute guidance on topics including program risk management, qualitative and quantitative risk analysis, simulation and modeling, significant “non-project” risks, and more.

Complicated projects are inherently risky business. Fully updated and revised, the Third Edition of Identifying and Managing Project Risk is the essential guide for avoiding surprises, and achieving incredible project success.

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. He is the Program Director for Project Management at UC Berkeley Extension.

From the Back Cover:

The ultimate, most comprehensive resource on project risk management, Identifying and Managing Project Risk gives you the methodology and expert advice you need to keep every project safely on track. Extensively revised, the Third Edition is once again consistent with the Guide to the Project Management Body of Knowledge (PMBOK®) and the Risk Management Professional (RMP) certification.

Identifying and Managing Project Risk takes you through every phase of a project, giving you dependable, repeatable techniques for considering all conceivable types of risk at any and every point in the process. Helping you eliminate surprises and transform risk into a variable you can manage and keep safely under control, the book provides you with the latest and best thinking on how to minimize risk and achieve incredible success.

Advance Praise for IDENTIFYING and MANAGING PROJECT RISK, Third Edition

Identifying and Managing Project Risk remains the foundation for every project risk management library. Tom Kendrick’s applications of real world events and how risk management relates to them makes the material both real and easy to understand. Most important, it readily shows readers how to deal with their own situations. A must-read for any serious project manager.” — Craig D. Peterson, PMP, President, Risk Management Specific Interest Group

“Tom Kendrick’s book provides a useful model for managing project risks. It’s filled with valuable insights, illustrations, and rich examples that may be directly applied to readers’ own projects. Among my top recommendations.” — Jan Birkelbach, MBA, PMP, Project Team Consultant

“Risk management is all about setting yourself up for success at the beginning of a project. Tom Kendrick’s book is an excellent reference to do just that—arming you with valuable and practical information.” — Laszlo A. Retfalvi, P.Eng. PMP PMI-RMP; Principal at Retfalvi and Associates; and author of The Power of Project Management Leadership

“I have read and reviewed countless books for my graduate level Risk Management class, and Kendrick’s Identifying and Managing Project Risk was clearly the best available in print. The material is accessible for the inexperienced student, and thoroughly enjoyable and relevant for even the most experienced project manager.” — John J. Conard, Jr., Professor of the Practice, Project Management School of Engineering, Kansas University

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