Project Risk Management: Processes, Techniques and Insights

Rating:
Summary: Heavy on process and insight; light on technique
Review: This is the most comprehensive treatment of project risk management processes I have read. The focus is on the process itself, using techniques to illustrate the advice and insights that are heavily interspersed throughout. Because techniques are used to reinforce the information on process and insights this book is better suited for readers who have a good understanding of risk management techniques.

Another feature is the risk management processes provided can be used for either project or product management because of the fine granularity of the project life cycle used - instead of the typical 6-stage Requirements, Design, Build, Test, Implement and Operate stages the authors use an 8-stage project life cycle that begins with conception and includes post-planning allocation and post-delivery review milestones. Moreover, the typical risk management cycle of Identify, Analyze and Quantify, Prioritize and Manage is expanded into a much more detailed cycle that includes focusing, clarifying ownership issues, and scenario analysis. In particular, the scenario analysis sub process is an excellent approach and allows you to go well beyond the typical expected monetary value and probability x impact types of analyses.

The authors assume that you have a good grounding in both probability and fundamental quantitative analysis techniques, and while both probability and a variety of techniques are used as examples they are only superficially explained. The best part of the book, though, is the large number of insights imparted through cases and real-life situations. These are thought-provoking, but require careful reading (especially for American readers who may not be used to the norms of the British vernacular).

If you are interested in a mature project or product risk management process and have some background in risk management this is a five-star book that absolutely should be in your library.

Rating:
Summary: Heavy on process and insight; light on technique
Review: This is the most comprehensive treatment of project risk management processes I have read. The focus is on the process itself, using techniques to illustrate the advice and insights that are heavily interspersed throughout. Because techniques are used to reinforce the information on process and insights this book is better suited for readers who have a good understanding of risk management techniques.

Another feature is the risk management processes provided can be used for either project or product management because of the fine granularity of the project life cycle used - instead of the typical 6-stage Requirements, Design, Build, Test, Implement and Operate stages the authors use an 8-stage project life cycle that begins with conception and includes post-planning allocation and post-delivery review milestones. Moreover, the typical risk management cycle of Identify, Analyze and Quantify, Prioritize and Manage is expanded into a much more detailed cycle that includes focusing, clarifying ownership issues, and scenario analysis. In particular, the scenario analysis sub process is an excellent approach and allows you to go well beyond the typical expected monetary value and probability x impact types of analyses.

The authors assume that you have a good grounding in both probability and fundamental quantitative analysis techniques, and while both probability and a variety of techniques are used as examples they are only superficially explained. The best part of the book, though, is the large number of insights imparted through cases and real-life situations. These are thought-provoking, but require careful reading (especially for American readers who may not be used to the norms of the British vernacular).

If you are interested in a mature project or product risk management process and have some background in risk management this is a five-star book that absolutely should be in your library.