Managing Project Risks - Michael Edwards

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Résumé :

About the Authors xvii

Preface to the Second Edition xviii

Preface to the First Edition xix

Acknowledgments xxi

Glossary of Terms xxii

1 Introduction 1

1.1 Introduction 1

1.2 The Project Perspective 1

1.3 The Project Stakeholder Perspective 2

1.4 Overview of Contents 3

1.5 Limitations Caveat 5

2 An Overview of Risk 7

2.1 Chapter Introduction 7

2.2 Risk Definitions 7

2.3 Threat and Opportunity 9

2.4 Risk and Uncertainty 11

2.4.1 Uncertainties in the Type of Risk Trigger Events 14

2.4.2 Uncertainties in the Occurrence of Risk Events 14

2.4.3 Uncertainties in the Period of Exposure to Risk Events 14

2.4.4 Uncertainty in the Type of Consequences of Risk Events 15

2.4.5 Uncertainty in the Magnitude of Risk Consequences 15

2.4.6 Uncertainty in Periods of Exposure to Risk Consequences 16

2.5 The Dynamic Nature of Risk 17

2.6 Psychology and Perceptions of Risk 17

2.7 Risk Awareness 18

2.8 Classifying Risk 19

2.8.1 A Generic Source Event Risk Classification System 20

2.8.2 Natural Systems Risks 21

2.8.3 Human Risks 22

2.8.4 Risk Classification Based on Organisational Structure 25

2.8.5 Risk Classification Based on Project Phases 26

2.8.6 Customised Hybrid Approaches to Risk Classification 26

2.8.7 Multisystem Risk Classification 28

2.9 Risk Communication 28

2.10 Chapter Summary 29

References 30

3 Projects and Project Stakeholders 31

3.1 Introduction 31

3.2 The Nature of Projects 31

3.3 Project Objectives 32

3.3.1 Procurement Objectives 33

3.3.2 Operational Objectives 35

3.3.3 Strategic Objectives 36

3.4 Project Phases 39

3.5 Composition of Projects 41

3.6 Processes of Project Implementation 43

3.6.1 IT Project Example 44

3.6.2 Ideation and Concept Development 44

3.6.3 Project Development Stage 45

3.6.4 Project Deployment and Operation 46

3.6.5 Operational Maintenance 46

3.7 Organisational Structures for Projects 46

3.8 Project Stakeholder Relationships 47

3.9 Stakeholder Organisational Structures 55

3.9.1 Simple Structures 55

3.9.2 Machine Bureaucracies 55

3.9.3 Professional Bureaucracies 57

3.9.4 Divisionalised Forms 59

3.9.5 Adhocracies 60

3.10 Modes of Organisational Management 61

3.11 Project Stakeholder Decision-Making 62

3.12 'Risky' Projects 66

3.13 Chapter Summary 68

References 68

4 Project Risk Management Systems and Frameworks 69

4.1 Chapter Introduction 69

4.2 Risk Management 70

4.3 Risk Management Systems 72

4.4 Risk Management Standards and Guides 73

4.5 A Cycle of Systematic Project Risk Management 75

4.5.1 A: Establish the Context 77

4.5.2 B 1 : Identify Risks 77

4.5.3 B 2 : Analyse Risks 78

4.5.4 B 3 : Evaluate Risks 78

4.5.5 C: Respond to Risks 78

4.5.6 D: Monitor and Control Risks 79

4.5.7 E: Capture Project Risk Knowledge 79

4.6 Project Stages and Risk Management Workshops 80

4.6.1 Construction Project Example 80

4.6.2 The DB Design-Bid Stage 82

4.6.3 The DB Build Stage 83

4.6.4 IT Project Example 84

4.7 A Project Risk Register Template 86

4.8 RMS Integration 89

4.9 RM Governance and Responsibility 89

4.10 Joint Venture RMS 89

4.11 Project Client RM Requirements 90

4.12 Chapter Summary 90

References 91

5 Project Risk Contexts and Drivers 93

5.1 Chapter Introduction ...

Biographie:
the emphasis remains on pragmatic solutions, user-friendly techniques, and reliable communication, enabling readers to seamlessly integrate theory into practice.

Updates to the newly revised Second Edition of Managing Project Risks include:

• Additional tools and techniques for risk identification and an expanded treatment of risk communication
• A new tool for early-stage project complexity assessment-the stage where uncertainties, and thus threat and opportunity risks, are at their highest level
• A more substantial treatment of planning for crisis response and disaster recovery, taking into consideration climate change and the increasingly prevalent impacts of severe weather phenomena
• More information on strategic risk management, now including public and organizational policy development with respect to risks in projects

Managing Project Risks is an essential resource for practitioners of project management across architecture, construction, engineering, and technology disciplines, for undergraduate and postgraduate students, and for public and private sector stakeholders involved in decision-making and policy development. It is useful wherever project-driven activities are undertaken....

Sommaire:

A comprehensive and highly practical overview of project risk management emphasising pragmatic solutions and user-friendly methods without advanced mathematical techniques

Managing Project Risks provides a comprehensive treatment of project risk management, offering a systematic but easy-to-follow approach. This book explores critical topics that influence how risks are managed, but which are rarely found in other books, including risk knowledge management, cultural risk-shaping, project complexity, political risks, and strategic risk management.

The book commences with foundational concepts, providing an overview of risk, project definitions, project stakeholders, and risk management systems. Subsequent chapters explore the core processes of project risk management, including risk identification, analysis, evaluation, response strategies, and risk monitoring and control. Additional topics include risk knowledge management, the influence of culture on risk, political risks in projects, and relevant software applications. Experienced readers may choose to navigate directly to the later chapters, which focus on strategic risk management and offer recommendations for planning, building, and maturing a project risk management system.

Throughout, the authors impart a practical approach that does not rely on high level expertise or advanced mathematical techniques...