Managing Project Risks

Acknowledgements Preface Glossary of Terms Chapter 1 Introduction 1.1 Chapter introduction 1.2 The project perspective 1.3 The project stakeholder perspective 1.4 Overview of contents 1.5 Limitations caveat Chapter 2 An Overview of Risk 2.1 Chapter introduction 2.2 Risk definitions 2.3 Threat and Opportunity 2.4 Risk and uncertainty 2.5 The dynamic nature of risk 2.6 Psychology and perceptions of risk 2.7 Risk awareness 2.8 Classifying risk 2.9 Risk communication 2.10 Chapter summary Chapter References Chapter 3 Projects and Project Stakeholders 3.1 Chapter introduction 3.2 The nature of projects 3.3 Project objectives 3.4 Project phases 3.5 The composition of projects 3.6 Processes of project implementation 3.7 Organisational structures for projects 3.8 Project stakeholder relationships 3.9 Stakeholder organisational structures 3.10 Modes of organisational management 3.11 Project stakeholder decision-making 3.12 "Risky" projects 3.13 Chapter summary Chapter References Chapter 4 Project Risk Management Systems 4.1 Chapter introduction 4.2 Risk management 4.3 Risk management systems 4.4 Risk management standards and guides 4.5 A cycle of systematic project risk management 4.6 Project stages and risk management workshops 4.7 A Project Risk Register template 4.8 Chapter Summary Chapter References Chapter 5 Project Risk Contexts and Drivers 5.1 Chapter introduction 5.2 The contextualising process 5.3 Internal contexts as risk drivers 5.4 External contexts as risk drivers 5.5 Using contextual information 5.6 Chapter summary Chapter References Chapter 6 Approaches to Risk Identification 6.1 Chapter introduction 6.2 Approach to risk identification 6.3 Workshop timing 6.4 Types of risk identification techniques 6.5 Chapter summary Chapter References Chapter 7 Project Risk Identification Tools 7.1 Chapter introduction 7.2 Activity-related tools 7.3 Analytical tools 7.4 Associated representative tools 7.5 Matrix tools 7.6 Simulation-visualisation tools 7.7 Speculation tools 7.8 Structural-management tools 7.9 Risk identification statements 7.10 Chapter summary Chapter references Chapter 8 Project Risk Analysis and Evaluation 8.1 Chapter introduction 8.2 Qualitative analysis 8.3 Assessing likelihood 8.4 Assessing impacts 8.5 Evaluating risk severity 8.6 Quantitative analysis 8.7 Risk mapping 8.8 Chapter summary Chapter references Chapter 9 Risk Response and Treatment Options 9.1 Chapter introduction 9.2 Risk attitudes and appetites 9.3 Existing risk controls 9.4 Risk response options 9.5 Risk treatment options 9.6 Risk mitigation principles 9.7 Strategic use of ALARP 9.8 Re-assessment 9.9 Recording decisions 9.10 Chapter summary Chapter references Chapter 10 Risk Monitoring and Control 10.1 Chapter introduction 10.2 Assigning responsibility 10.3 Monitoring procedures 10.4 Control measures 10.5 Reporting processes 10.6 Dealing with new risks 10.7 Disaster planning and recovery 10.8 Capturing project risk knowledge 10.9 Chapter summary Chapter references Chapter 11 Project Risk Knowledge Management 11.1 Chapter introduction 11.2 Knowledge definitions and types 11.3 The knowledge creation cycle 11.4 Project and Organisational Risk Register architecture 11.5 Challenges for implementing risk knowledge management systems 11.6 Communication and knowledge management 11.7 Chapter summary Chapter references Chapter 12 Cultural Shaping of Risk 12.1 Chapter introduction 12.2 Culture in society 12.3 Organisational cultures 12.4 External cultures as project risk-shapers 12.5 Organisational cultures of other project stakeholders 12.6 Applying cultural shaping in project risk management 12.7 Chapter summary Chapter references Chapter 13 Project Complexity and Risk 13.1 Chapter introduction 13.2 The concept of complexity 13.3 Relative complexity 13.4 Uncertainty and project complexity 13.5 Identifying and mapping complexity 13.6 Influence of complexity on risk management 13.7 Complexity and mega-projects. 13.8 Chapter summary Chapter references Chapter 14 Political Risk 14.1 Chapter introduction 14.2 Political spheres 14.3 Dimensions of political risk factors 14.4 Examples of political risks 14.5 Political stakeholders 14.6 Managing political risks 14.7 More extreme political threat risks 14.8 Chapter summary Chapter references Chapter 15 Opportunity Risk Management 15.1 Chapter introduction 15.2 Concept of opportunity risk 15.3 Opportunity risk in projects 15.4 Examples of opportunity risks 15.5 Managing opportunity risks 15.6 Chapter summary Chapter 16 Strategic Risk Management 16.1 Chapter introduction 16.2 Strategic issues for project risk management 16.3 PRMS process strategies 16.4 Chapter summary Chapter 17 Planning, Building and Maturing Project Risk Management Systems 17.1 Chapter introduction 17.2 PRMS objectives 17.3 Planning and designing the PRMS 17.4 Risk management maturity 17.5 Building the PRMS 17.6 PRMS performance review and improvement cycle 17.7 Chapter summary Chapter references Chapter 18 Computer Applications 18.1 Chapter introduction 18.2 PRMS software applications 18.3 Other information technologies and tools 18.4 Chapter summary Chapter 19 Communicating Risk 19.1 Chapter introduction 19.2 Communication theories and models 19.3 Components in the communication process 19.4 Communicating risk in the PRMS cycle 19.5 Communicating risk beyond the project stakeholder organisation 19.6 Evaluating risk communication 19.7 Chapter summary Chapter references Chapter 20 Conclusions 20.1 Chapter introduction 20.2 Current state of project risk management 20.3 Future project risk management 20.4 Checking your reading satisfaction 20.5 Closing remarks Appendices Case Studies Case A: PPP Correctional facility Case B: Rail improvement project Case C1: Project consultancy Case D: Train mock-up project Case E: Hot-rod car project Case F: Aquatic theme park project Index