Identifying and Managing Project Risk

by Kendrick, Tom

• ISBN13: 9780814407615
• ISBN10: 0814407617
• Format: Hardcover
• Copyright: 2003-04-25
• Publisher: Amacom Books
• More Book Details
• Purchase Benefits

Summary

Between time constraints, technical challenges, and limited resources, nearly all projects are risky. It stands to reason that project risk management is one of the most important areas making up the Project Management Body of Knowledge (PMBOKreg;). Identifying and Managing Project Risk is an immensely practical guide that helps readers minimize the possibility of failure in critical projects by identifying every possible risk . . . and then managing it effectively.

Author Biography

Tom Kendrick (San Carlos, CA) has more than 25 years of project management experience, twelve of which were spent as a part of the Hewlett-Packard Project Management Initiative.

Table of Contents

Acknowledgments	p. ix
Introduction	p. xi
Why Project Risk Management?	p. 1
The Doomed Project	p. 1
Risk	p. 2
Benefits and Uses of Risk Data	p. 8
The Risk Management Process	p. 10
Anatomy of a Failed Project: The First Panama Canal Project	p. 12
Planning for Risk Management	p. 17
Project Selection	p. 18
Overall Project Planning Processes	p. 20
Defining Risk Management for the Project	p. 29
The PERIL Database	p. 31
Key Ideas for Project Risk Planning	p. 35
A Second Panama Canal Project: Sponsorship and Initiation (1902-1904)	p. 35
Identifying Project Scope Risk	p. 37
Sources of Scope Risk	p. 38
Defining Deliverables	p. 41
High-Level Risk Assessment Tools	p. 48
Setting Limits	p. 53
Work Breakdown Structure (WBS)	p. 55
Other Risks	p. 61
Document the Risks	p. 64
Key Ideas for Identifying Scope Risks	p. 65
Panama Canal: Setting the Objective (1905-1906)	p. 65
Identifying Project Schedule Risk	p. 68
Sources of Schedule Risk	p. 69
Activity Definition	p. 73
Estimating Activity Duration	p. 74
Activity Sequencing	p. 93
Document the Risks	p. 101
Key Ideas for Identifying Schedule Risks	p. 102
Panama Canal: Planning (1905-1907)	p. 102
Identifying Project Resource Risk	p. 104
Sources of Resource Risk	p. 105
Resource Planning	p. 109
Staff Acquisition	p. 114
Procurement Planning and Source Selection	p. 119
Cost Estimating	p. 127
Cost Budgeting	p. 129
Document the Risks	p. 129
Key Ideas for Identifying Resource Risks	p. 130
Panama Canal: Resources (1905-1907)	p. 130
Managing Project Constraints and Documenting Risks	p. 132
Analyze Constraints	p. 133
Scope Options and Opportunity Management	p. 138
Resource Options	p. 143
Schedule Options	p. 145
Assess Options and Update Plans	p. 150
Seek Missing Risks	p. 151
Key Ideas for Constraint Management and Risk Discovery	p. 156
Document the Risks	p. 156
Key Ideas for Constraint Management and Risk Discovery	p. 156
Panama Canal: Improving the Plan (1906)	p. 156
Quantifying and Analyzing Activity Risks	p. 158
Quantitative and Qualitative Risk Analysis	p. 159
Risk Probability	p. 160
Risk Impact	p. 161
Qualitative Risk Analysis	p. 164
Quantitative Risk Assessment	p. 169
Key Ideas for Activity Risk Analysis	p. 179
Panama Canal: Risks (1906-1914)	p. 179
Managing Activity Risks	p. 182
Root Cause Analysis	p. 183
Categories of Risk	p. 184
Risk Response Planning	p. 186
Managing a Specific Risk	p. 213
Key Ideas for Managing Activity Risks	p. 217
Panama Canal: Risk Plans (1906-1914)	p. 218
Quantifying and Analyzing Project Risk	p. 221
Project-Level Risk	p. 222
Aggregating Risk Responses	p. 224
Questionnaires and Surveys	p. 225
Instructions for the Project Risk Questionnaire	p. 226
Project Simulation and Modeling	p. 233
Analysis of Scale	p. 248
Project Appraisal	p. 249
Project Metrics	p. 251
Key Ideas for Project Risk Analysis	p. 262
Panama Canal: Overall Risks (1907)	p. 262
Managing Project Risk	p. 264
Project Documentation Requirements	p. 265
Project Start-Up	p. 267
Selecting and Implementing Project Metrics	p. 271
Management Reserve	p. 273
Project Baseline Negotiation	p. 278
Project Plan Validation	p. 282
Specification Change Management	p. 282
Key Ideas for Managing Project Risk	p. 288
Panama Canal: Adjusting the Objective (1907)	p. 288
Monitoring and Controlling Risky Projects	p. 290
Applying the Plan	p. 291
Project Monitoring	p. 292
Collecting Project Status	p. 295
Metrics and Trend Analysis	p. 297
Responding to Issues	p. 302
Communication	p. 303
Project Archives	p. 311
Project Reviews and Risk Reassessment	p. 312
Key Ideas for Risk Monitoring and Control	p. 317
Panama Canal: Risk-Based Replanning (1908)	p. 317
Closing Projects	p. 320
Project Closure	p. 321
Project Retrospective Analysis	p. 323
Key Ideas for Project Closure	p. 329
Panama Canal: Completion (1914)	p. 329
Conclusion	p. 331
Panama Canal: The Next Project	p. 335
Selected Detail from the PERIL Database	p. 337
Selected Bibliography	p. 345
Index	p. 349
Table of Contents provided by Ingram. All Rights Reserved.