Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project

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All projects are inherently risky, and especially complex ones can potentially be the downfall for even the most experienced project manager. Pages: Sales rank: , Product dimensions: 6. Cleland Project Management Literature Award for the previous edition of this book. Read an Excerpt Introduction Your mission, Jim, should you decide to accept it So began every episode of the classic TV series Mission: Impossible, and what followed chronicled the execution of that week's impossible mission.

Today's projects should also probably arrive on a tape that "will self-destruct in five seconds. Used effectively a these processes will help you recognize and manage potential problems. Often, they can make the difference between a project that is possible and one that is impossible. This is what Identifying and Managing Project Risk is about. Throughout this book, examples from modern projects show how to apply the ideas presented to meet the challenges you face.

Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project

This is not a book of theories; it is based on data collected in the recent past from hundreds of complex projects worldwide. These examples are used to identify sources of risk, and they demonstrate practical responses that do not always resort to brute force. The first half of the book addresses risk identification, which relies heavily on thorough project definition and planning. The initial six chapters show the value of these activities in uncovering sources of risk.

The remainder of the book covers the assessment and management of risk, at the detail activity level as well as at the project level and above. These chapters cover methods for assessing identified risks, establishing an overall risk plan for the project, making project adjustments, ongoing risk tracking, project closure, and the relationship between project risk management and program, portfolio, and enterprise risk management.

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It is especially easy on modern projects to convince yourself that there is little to be learned from the past and that established ideas and techniques "no longer apply to my project. Neither project management in general nor risk management in particular is all that new. Broad principles and techniques for both have been successfully used for more than a century.


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Even though many lessons can be learned from current projects as the PERIL database illustrates , there is also much to be absorbed from earlier work. As a graphic reminder of this connection, each chapter in this book concludes with a short description of how some of the principles discussed relate to a very large historical project: the construction of the Panama Canal.

Risk in projects comes from many sources, including two that are generally left out of even the better books on the subject: 1 the inadequate application or even discouragement of project management practices and 2 the all too common situation of wildly aggressive project objectives that are established without the backing of any realistic plan.

These risks are related because only through adequate understanding of the work can you detect whether objectives are impossible, and only by using the information you develop can you hope to do anything about it. Identifying and Managing Project Risk is intended to help leaders of today's complex projects and their managers successfully deliver on their commitments.

Whether you develop products, provide services a create information technology solutions, or deal with complexity in other types of projects, you will find easy-to-follow, practical guidance to improve your management of project risk, along with effective practices for aligning your projects with reality. You will learn how to succeed with seemingly impossible projects by reducing your risks with minimal incremental effort.

Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project

See All Customer Reviews. Shop Books. Read an excerpt of this book! Add to Wishlist. USD Sign in to Purchase Instantly. Overview All projects are inherently risky, and especially complex ones can potentially be the downfall for even the most experienced project manager. It was ok if you are looking to get a basic understanding of setting up projects. But it was not the best read on how you might do so overseas.


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Nov 25, Cynthia rated it really liked it. I read it for school.

Identifying and Managing Project Risk by Pmp, Tom Kendrick

Found it to be useful and informative. Feb 28, Nestor Jimenez rated it liked it Shelves: profesion. A little bit dense but its list of risk for each process group and the risk database is great! Required reading for project management classes. A pretty useful book detailing common risks as well as approaches to risk management. Not sure why one would read it outside of a classroom, though. Mar 01, Amacom added it.

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