Identifying and Managing Project Risk

Essential Tools for Failure-Proofing Your Project

 Identifying and Managing Project Risk

Author: Tom Kendrick, PMP
Pub Date: March 2015
Print Edition: $34.95
Print ISBN: 9780814436080
Page Count: 400
Format: Hardback
Edition: Third Edition
e-Book ISBN: 9780814436097

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Table of Contents


Acknowledgments vii

Introduction 1

CHAPTER 1: Why Project Risk Management? 4

The Doomed Project * Risk * Opportunities and Risks * Benefits of Project

Risk Management * Costs of Project Risk Management * The Project Risk

Management Process * Anatomy of a Failed Project: The First Panama

Canal Project

CHAPTER 2: Planning for Risk Management 22

Project Selection * Overall Project Planning Processes * Defining Risk

Management for the Project * Risk Management Infrastructure for the

Organization * The PERIL Database * A Second Panama Canal Project:

Sponsorship and Initiation (1902--1904)

CHAPTER 3: Identifying Project Scope Risk 49

Sources of Scope Risk * Defining Deliverables * High-Level Risk

Assessment Tools * Setting Limits * Work Breakdown Structure

* Other Scope-Related Risks * Documenting the Risks * Panama Canal:

Setting the Objective (1905--1906)

CHAPTER 4: Identifying Project Schedule Risk 79

Sources of Schedule Risk * Activity Definition * Estimating Activity Duration

* Activity Sequencing * Documenting the Risks * Panama Canal:

Planning (1905--1907)

CHAPTER 5: Identifying Project Resource Risk 108

Sources of Resource Risk * Resource Planning * Staff Acquisition

* Outsourcing * Effort Estimates Adjusted for Risk * Cost Estimates,

Budgets, and Risk * Documenting the Risks * Panama Canal:

Resources (1905--1907)

CHAPTER 6: Managing Project Constraints and

Documenting Risks 136

Analyzing Constraints * Managing Opportunities * Scope Modification

* Resource Modification * Schedule Modification * Assessing Options and

Updating Plans * Seeking Missing Risks * Creating a Risk Register * Panama Canal:

Improving the Plan (1906)

CHAPTER 7: Quantifying and Analyzing Activity Risks 161

Qualitative and Quantitative Risk Analysis * Probability and Impact * Qualitative

Risk Assessment * Quantitative Risk Assessment * Panama Canal: Risks (1906--1914)

CHAPTER 8: Managing Activity Risks 189

Root Cause Analysis * Categories of Risk * Selecting Risks to Address

* Risk Response Planning * Dealing with Risk Causes * Implementing Preventative

Ideas * Dealing with Risk Effects * Documenting Your Risk Plans and Risk Owners

* Managing a Specific Risk * Bow Tie Analysis for Documenting Risk Responses

* Panama Canal: Risk Plans (1906--1914)

CHAPTER 9: Quantifying and Analyzing Project Risk 232

Project-Level Risk * Aggregating Risk Responses * Project Modeling and

Simulations * Integrated Schedule/Cost Assessment * System Analysis

* Critical Chain Considerations * Questionnaires and Surveys * Analysis of Scale

* Project Appraisal * Scenario Analysis * Project Metrics * Financial Metrics

* Panama Canal: Overall Risks (1907)

CHAPTER 10: Managing Project Risk 276

Project Documentation Requirements * Project Start-Up * Selecting and

Implementing Project Metrics * Establishing Reserves and Managing for

Contingency * Project Baseline Negotiation * Project Plan Validation

* Specification Change Control * Panama Canal: Adjusting the Objective (1907)

CHAPTER 11: Monitoring and Controlling Risky Projects 299

Don't Panic * Applying the Plan * Project Monitoring * Collecting Project Status

* Metrics and Trend Analysis * Responding to Issues * Communication and Risk

Reporting * Project Archive * Managing Risk Reserves * Project Reviews and Risk

Reassessment * Taking Over a Troubled Project * Panama Canal: Risk-Based

Replanning (1908)

CHAPTER 12: Closing Projects 321

Project Closure * Project Retrospective Analysis * Panama Canal: Completion (1914)

CHAPTER 13: Program, Portfolio, and Enterprise Risk Management 330

Project Risk Management in Context * Program Risk Management * Portfolio Risk

Management * Enterprise Risk Management * Panama Canal: Over the Years

CHAPTER 14: Conclusion 367

Choosing to Act * Managing Your Risks * Panama Canal: The Twenty-First Century

APPENDIX: Selected Detail from the PERIL Database 373

Scope Risks * Schedule Risks * Resource Risks

Index 381

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