Managing Risk in Projects

✍ Scribed by David Hillson

• Publisher: Routledge
• Year: 2024
• Tongue: English
• Leaves: 171
• Edition: 2
• Category: Library

✦ Synopsis

Projects are risky undertakings, and risk management is recognised as an integral part of managing the project. Managing Risk in Projects places risk management in its proper context in the world of project management and beyond, emphasising the central concepts essential to understanding why and how risk management matters, and presenting proven practical approaches to addressing risk in any project.

The risk management world has changed significantly since the first edition, with advances in risk management practice reflected by changes in international standards and guidelines, as well as significant developments in their implementation. This second edition reflects these changes, and has been completely updated to address progress in the practical application of risk management to projects. Two new chapters have been added, the first discussing how to manage risk in complex projects, and the second considering the role and influence of risk leaders outside the project arena in setting the context and environment for successful risk management. New material also addresses enterprise risk management and risky decision-making.

Throughout, the book offers a concise description of current best practice in project risk management whilst introducing the latest developments, to enable project managers, project sponsors and others responsible for managing risk on projects to do just that – effectively.

✦ Table of Contents

Cover
Half Title
Endorsement Page
Title Page
Copyright Page
Table of Contents
List of Figures
List of Tables
Foreword to the First Edition
Foreword to the Second Edition
Preface to the First Edition
Preface to the Second Edition
Chapter 1 Uncertainty and Risk
Current Sources of Uncertainty
Responding to Uncertainty
Distinguishing Between Uncertainty and Risk
A Pragmatic Distinction
Three Refinements
All Risks Are Uncertain, but Not All Uncertainties Are Risks
Chapter 2 Risk and Projects
What’s Wrong With Projects?
Why Are Projects Risky?
Why Manage Risk in Projects?
Individual Risks or Overall Risk (or Both)?
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 Managing Risk in Complex Projects
The Challenge of Complexity
Identifying Risk in Complex Projects: Futures Thinking
Managing Risk in Complex Projects: Adaptive Resilience
Practical Project Continuity Management
Current Guidance on Risk and Complexity
Chapter 5 Risk and People
Understanding Risk Attitude
Influences on the Risk Attitude Spectrum
Risk Attitudes and the Risk Process
Risk and Decision-Making
Managing Risk Attitudes
People Plus Process
Chapter 6 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 7 The Bigger Risk Picture
Strategy, Tactics and Projects
Hierarchy of Objectives, Hierarchy of Risk
Managing Enterprise Risk Across Boundaries
Effective Enterprise Risk Management
Project Risk Management in the Wider Risk Context
Managing Risk in Programmes and Portfolios
Remaining Challenges
Chapter 8 Risk Leadership
Leadership Versus Management
Who Are Risk Leaders and What Do They Do?
Behaviours of Effective Risk Leaders
Risk Leaders – An Essential Contributor to Risk Management
Chapter 9 Sustainable Risk Management
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