Mastering Risk and Procurement in Project Management: A Guide to Planning, Controlling, and Resolving Unexpected Problems

Mastering Risk and Procurement in Project Management: A Guide to Planning, Controlling, and Resolving Unexpected Problems

by Randal Wilson
Released September 2014
Publisher(s): Pearson
ISBN: 9780133838534

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Book description

Master the crucial risk management and procurement tasks that are indispensable to project success! In Mastering Risk and Procurement in Project Management, expert project manager and seasoned professor Wilson addresses every stage of the project where risk management and procurement are relevant, especially planning, monitoring, and control. Teaching through relevant examples and case studies, Wilson explains:

  • Why risk management and procurement are so crucial to achieving your project's goals

  • The deep and surprising linkages that exist across risk management and procurement

  • How to avoid common pitfalls

  • How to integrate best-practice risk management and procurement throughout your PMBOK processes.

    • Drawing on his own extensive experience, he offers in-depth coverage of topics ranging from contracting and risk monitoring to project close-out, and gives readers practical knowledge of critical processes and tasks in project management.

    Table of contents

    1. About This eBook
    2. Title Page
    3. Copyright Page
    4. Dedication Page
    5. Contents
    6. About the Author
    7. Introduction
      1. Problems Are Inevitable
      2. What Is Risk?
        1. Bad Risk Versus Good Risk
        2. Risk Versus Uncertainty
      3. What Is Procurement?
      4. Risks and Procurement Go Hand-in-Hand
      5. Seeing Is Believing
        1. Risk and Procurement—Planned?
        2. Save the Project and Organization
        3. Proactive Versus Reactive
        4. Problem Management Versus Change Management
      6. Is the Project Manager a Risk?
      7. Organizational Culture of Risk Planning
    8. Part I: Risk and Procurement Planning
      1. 1. Risk Strategy and Planning
        1. 1.1 Introduction
          1. Practical Application
        2. 1.2 Risk Strategy Versus Risk Planning
          1. Strategic Risk Planning
          2. Tactical Risk Planning
        3. 1.3 Develop Risk Management Plan (Process)
          1. Risk Identification
          2. Define Risk Tolerance
          3. Risk Analysis
          4. Contingency or Redesign Planning
          5. Risk Monitoring Process
          6. Develop Risk Controls
          7. Change Management Process
          8. Closer for Risk Events
          9. Communicate Risk Event Results
          10. Lessons Learned
        4. 1.4 Summary
        5. 1.5 Review Questions
        6. 1.6 Key Terms
        7. 1.7 PMBOK Connections (5th Ed.)
        8. 1.8 Case Study (Use for Chapters 1, 2, 3, and 4)
        9. 1.9 Case Study Questions and Exercise
      2. 2. Identifying Risk
        1. 2.1 Introduction
        2. 2.2 Information Gathering
          1. Who, What, and How
          2. Activity Information Checklist
        3. 2.3 Identifying the Risks
          1. Resources to Help Identify Risks
          2. Types of Risks
        4. 2.4 Categorizing Risks
          1. The Big Three (Triple Constraint)
          2. Change Management
        5. 2.5 Documenting Risk Information
          1. Risk Register
          2. Risk Management Plan
        6. 2.6 Summary
        7. 2.7 Review Questions
        8. 2.8 Key Terms
        9. 2.9 PMBOK Connections (5th Ed.)
        10. 2.10 Case Study Questions (Use Case Study in Chapter 1)
      3. 3. Risk Analysis
        1. 3.1 Introduction
          1. Qualitative Analysis
          2. Simple and Fast
          3. Risk Assessment Matrix
          4. Diagramming Methods
          5. Decision Tree Analysis (Non-numerical)
        2. 3.2 Quantitative Analysis
          1. Data Gathering
          2. Beta and Triangular Probability Distributions
          3. Sensitivity Analysis
          4. Monte Carlo Simulation
          5. Decision Tree Analysis (Numerical)
        3. 3.3 Risk Prioritizing
          1. What Is Sensitive on the Project?
          2. Separate by Probability and Severity
          3. Category Weighting
        4. 3.4 Summary
        5. 3.5 Review Questions
        6. 3.6 Key Terms
        7. 3.7 PMBOK Connections (5th Ed.)
        8. 3.8 Case Study Questions (Use Case Study in Chapter 1)
      4. 4. Plan Procurement Strategy
        1. 4.1 Introduction
        2. 4.2 Project Procurement Requirements
          1. Procurement Information Sources
          2. Special Customer Requirements
          3. Regulatory Requirements
        3. 4.3 Procurement Decision Processes
          1. Make or Buy Analysis
          2. Purchase Strategies
        4. 4.4 Contract Strategies
          1. What Is a Contract?
          2. Why Are Contracts Used?
          3. Contract Types
        5. 4.5 Risk Considerations
          1. Buyer Versus Seller
          2. Organizational Versus Project Level
          3. Triple Constraint
        6. 4.6 Summary
        7. 4.7 Review Questions
        8. 4.8 Key Terms
        9. 4.9 PMBOK Connecvtions (5th Ed.)
        10. 4.10 Case Study Questions (Use the Case Study in Chapter 1)
    9. Part II: Project Execution
      1. 5. Risk Response Strategies
        1. 5.1 Introduction
        2. 5.2 Strategy in Risk Response
          1. Reactive Response Mode
          2. Proactive Response Mode
          3. Negative Risks
          4. Benefits, Trade-Offs, and Pitfalls
          5. Positive Risks
        3. 5.3 Contingency Response Strategy
          1. Contractual Response Strategy
          2. Organizational Process Response Planning
        4. 5.4 Project Document Updates
        5. 5.5 Summary
        6. 5.6 Review Questions
        7. 5.7 Key Terms
        8. 5.8 PMBOK Connections (5th Ed.)
        9. 5.9 Case Study (Use for Chapters 5 and 6)
        10. 5.10 Case Study Questions
      2. 6. Procurement Execution Strategies
        1. 6.1 Introduction
        2. 6.2 Considerations Before Executing Procurements
        3. 6.3 Executing Purchases
        4. 6.4 Executing Contracts
        5. 6.5 Results of Executing Procurements
        6. 6.6 Summary
        7. 6.7 Review Questions
        8. 6.8 Key Terms
        9. 6.9 PMBOK Connections (5th Ed.)
        10. 6.10 Case Study Questions (Use Case Study in Chapter 5)
    10. Part III: Integrated Monitoring and Control
      1. 7. Risk Monitoring and Control
        1. 7.1 Introduction
        2. 7.2 Risk Monitoring Techniques
        3. 7.3 Risk Control Techniques
        4. 7.4 Manage Change Control
        5. 7.5 Project Document Updates
        6. 7.6 Summary
        7. 7.7 Review Questions
        8. 7.8 Key Terms
        9. 7.9 PMBOK Connections (5th Ed.)
        10. 7.10 Case Study (Use for Chapters 7 and 8)
        11. 7.11 Case Study Questions
      2. 8. Procurement Monitoring and Control
        1. 8.1 Introduction
        2. 8.2 Procurement Monitoring Techniques
        3. 8.3 Procurement Control Techniques
        4. 8.4 Integrated Procurement Change Control
        5. 8.5 Project Document Updates
        6. 8.6 Summary
        7. 8.7 Review Questions
        8. 8.8 Key Terms
        9. 8.9 PMBOK Connections (5th Ed.)
        10. 8.10 Case Study Questions (Use Case Study in Chapter 7)
    11. Part IV: Project Closer
      1. 9. Close Risk Events
        1. 9.1 Introduction
        2. 9.2 Evaluate Risks
        3. 9.3 Close Risk Responses
        4. 9.4 Claims and Disputes
        5. 9.5 Documentation and Communication
        6. 9.6 Summary
        7. 9.7 Review Questions
        8. 9.8 Key Terms
        9. 9.9 PMBOK Connections (5th Ed.)
        10. 9.10 Case Study (Use for Chapters 9 and 10)
        11. 9.11 Case Study Questions
      2. 10. Close Procurements
        1. 10.1 Introduction
        2. 10.2 Evaluate Open Procurements
        3. 10.3 Close Procurements
        4. 10.4 Claims and Disputes
          1. Documentation
        5. 10.5 Summary
        6. 10.6 Review Questions
        7. 10.7 Key Terms
        8. 10.8 PMBOK Connections (5th Ed.)
        9. 10.9 Case Study Questions (Use Case Study from Chapter 9)
    12. Bibliography
    13. Index

    Product information

    • Title: Mastering Risk and Procurement in Project Management: A Guide to Planning, Controlling, and Resolving Unexpected Problems
    • Author(s): Randal Wilson
    • Release date: September 2014
    • Publisher(s): Pearson
    • ISBN: 9780133838534