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Identifying and Managing Project Risk, 2nd Edition

Book Description

It’s no wonder that project managers spend so much time focusing their attention on risk identification. Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources. Identifying and Managing Project Risk, now updated and consistent with the very latest Project Management Body of Knowledge (PMBOK)® Guide, takes readers through every phase of a project, showing them how to consider the possible risks involved at every point in the process. Drawing on real-world situations and hundreds of examples, the book outlines proven methods, demonstrating key ideas for project risk planning and showing how to use high-level risk assessment tools. Analyzing aspects such as available resources, project scope, and scheduling, this new edition also explores the growing area of Enterprise Risk Management. Comprehensive and completely up-to-date, this book helps readers determine risk factors thoroughly and decisively…before a project gets derailed.

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Contents
  5. Acknowledgments
  6. Chapter 1: Why Project Risk Management?
    1. The Doomed Project
    2. Risk
    3. Benefits and Uses of Risk Data
    4. The Project Risk Management Process
    5. Anatomy of a Failed Project: The First Panama Canal Project
  7. Chapter 2: Planning for Risk Management
    1. Project Selection
    2. Overall Project Planning Processes
    3. Defining Risk Management for the Project
    4. The PERIL Database
    5. A Second Panama Canal Project: Sponsorship and Initiation (1902–1904)
  8. Chapter 3: Identifying Project Scope Risk
    1. Sources of Scope Risk
    2. Defining Deliverables
    3. High-Level Risk Assessment Tools
    4. Setting Limits
    5. Work Breakdown Structure (WBS)
    6. Other Scope-Related Risks
    7. Documenting the Risks
    8. Panama Canal: Setting the Objective (1905–1906)
  9. Chapter 4: Identifying Project Schedule Risk
    1. Sources of Schedule Risk
    2. Activity Definition
    3. Estimating Activity Duration
    4. Activity Sequencing
    5. Documenting the Risks
    6. Panama Canal: Planning (1905–1907)
  10. Chapter 5: Identifying Project Resource Risk
    1. Sources of Resource Risk
    2. Resource Planning
    3. Staff Acquisition
    4. Outsourcing
    5. Project-Level Estimates
    6. Cost Estimating and Cost Budgeting
    7. Documenting the Risks
    8. Panama Canal: Resources (1905–1907)
  11. Chapter 6: Managing Project Constraints and Documenting Risks
    1. Analyzing Constraints
    2. Managing Opportunities
    3. Scope Modification
    4. Resource Modification
    5. Schedule Modification
    6. Assessing Options and Updating Plans
    7. Seeking Missing Risks
    8. Documenting the Risks
    9. Panama Canal: Improving the Plan (1906)
  12. Chapter 7: Quantifying and Analyzing Activity Risks
    1. Quantitative and Qualitative Risk Analysis
    2. Risk Probability
    3. Risk Impact
    4. Qualitative Risk Assessment
    5. Quantitative Risk Assessment
    6. Panama Canal: Risks (1906–1914)
  13. Chapter 8: Managing Activity Risks
    1. Root-Cause Analysis
    2. Categories of Risk
    3. Risk Response Planning
    4. Risk Avoidance
    5. Risk Mitigation
    6. Risk Transfer
    7. Implementing Preventative Ideas
    8. Contingency Planning
    9. Risk Acceptance
    10. Documenting Your Risk Plans
    11. Managing a Specific Risk
    12. Panama Canal: Risk Plans (1906–1914)
  14. Chapter 9: Quantifying and Analyzing Project Risk
    1. Project-Level Risk
    2. Aggregating Risk Responses
    3. Questionnaires and Surveys
    4. Project Simulation and Modeling
    5. Analysis of Scale
    6. Project Appraisal
    7. Project Metrics
    8. Financial Metrics
    9. Panama Canal: Overall Risks (1907)
  15. Chapter 10: Managing Project Risk
    1. Project Documentation Requirements
    2. Project Start-Up
    3. Selecting and Implementing Project Metrics
    4. Management Reserve
    5. Project Baseline Negotiation
    6. Project Plan Validation
    7. Specification Change Management
    8. Panama Canal: Adjusting the Objective (1907)
  16. Chapter 11: Monitoring and Controlling Risky Projects
    1. Don’t Panic
    2. Applying the Plan
    3. Project Monitoring
    4. Collecting Project Status
    5. Metrics and Trend Analysis
    6. Responding to Issues
    7. Communication
    8. Project Archive
    9. Project Reviews and Risk Reassessment
    10. Taking Over a Troubled Project
    11. Panama Canal: Risk-Based Replanning (1908)
  17. Chapter 12: Closing Projects
    1. Project Closure
    2. Project Retrospective Analysis
    3. Panama Canal: Completion (1914)
  18. Chapter 13: Program, Portfolio, and Enterprise Risk Management
    1. Project Risk Management in Context
    2. Program Risk Management
    3. Portfolio Risk Management
    4. Enterprise Risk Management
    5. Panama Canal: Over the Years
  19. Chapter 14: Conclusion
    1. Choosing to Act
    2. Panama Canal: The Next Project
  20. Appendix
  21. Index