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| examples of positive risks in project management: Identifying and Managing Project Risk Tom Kendrick, 2009-02-27 Winner of the Project Management Institute’s David I. Cleland Project Management Literature Award 2010 It’s no wonder that project managers spend so much time focusing their attention on risk identification. Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources. Identifying and Managing Project Risk, now updated and consistent with the very latest Project Management Body of Knowledge (PMBOK)® Guide, takes readers through every phase of a project, showing them how to consider the possible risks involved at every point in the process. Drawing on real-world situations and hundreds of examples, the book outlines proven methods, demonstrating key ideas for project risk planning and showing how to use high-level risk assessment tools. Analyzing aspects such as available resources, project scope, and scheduling, this new edition also explores the growing area of Enterprise Risk Management. Comprehensive and completely up-to-date, this book helps readers determine risk factors thoroughly and decisively...before a project gets derailed. |
| examples of positive risks in project management: Understanding and Managing Risk Attitude Dr David Hillson, Ms Ruth Murray-Webster, 2012-03-01 Despite many years of development, risk management remains problematic for the majority of organizations. One common challenge is the human dimension, in other words, the way people perceive risk and risk management. Risk management processes and techniques are operated by people, each of whom is a complex individual, influenced by many different factors. And the problem is compounded by the fact that most risk management involves people working in groups. This introduces further layers of complexity through relationships and group dynamics. David Hillson's and Ruth Murray-Webster's Understanding and Managing Risk Attitude will help you understand the human aspects of risk management and to manage proactively the influence of human behaviour on the risk process. The authors introduce a range of models, perspectives and examples to define and detail the range of possible risk attitudes; looking both at individuals and groups. Using leading-edge thinking on self-awareness and emotional literacy, they develop a powerful approach to address the most common shortfall in current risk management: the failure to manage the human aspects of the process. All this is presented in a practical and applied framework, rather than as a theoretical or academic treatise, based on the authors' shared experiences and expertise, rather than empirical research. Anyone involved in implementing risk management will benefit from this book, including risk practitioners, senior managers and directors responsible for corporate governance, project managers and their teams. It is also essential reading for HR professionals and others interested in organizational or behavioural psychology. This second edition is updated to strengthen the understanding of individual risk attitudes and reinforce what individuals can do to manage those risk attitudes that are leading them away from their objectives. For people who want to embrace this subject, the book highlights ways forward that are proven and practical. |
| examples of positive risks in project management: The Standard for Risk Management in Portfolios, Programs, and Projects Project Management Institute, 2019-04-22 This is an update and expansion upon PMI's popular reference, The Practice Standard for Project Risk Management. Risk Management addresses the fact that certain events or conditions may occur with impacts on project, program, and portfolio objectives. This standard will: identify the core principles for risk management; describe the fundamentals of risk management and the environment within which it is carried out; define the risk management life cycle; and apply risk management principles to the portfolio, program, and project domains within the context of an enterprise risk management approach It is primarily written for portfolio, program, and project managers, but is a useful tool for leaders and business consumers of risk management, and other stakeholders. |
| examples of positive risks in project management: Research Project Management and Leadership P. Alison Paprica, 2024-01-31 The project management approaches, which are used by millions of people internationally, are often too detailed or constraining to be applied to research. In this handbook, project management expert P. Alison Paprica presents guidance specifically developed to help with the planning, management, and leadership of research. Research Project Management and Leadership provides simplified versions of globally utilized project management tools, such as the work breakdown structure to visualize scope, and offers guidance on processes, including a five-step process to identify and respond to risks. The complementary leadership guidance in the handbook is presented in the form of interview write-ups with 19 Canadian and international research leaders, each of whom describes a situation where leadership skills were important, how they responded, and what they learned. The accessible language and practical guidance in the handbook make it a valuable resource for everyone from principal investigators leading multimillion-dollar projects to graduate students planning their thesis research. The book aims to help readers understand which management and leadership tools, processes, and practices are helpful in different circumstances, and how to implement them in research settings. |
| examples of positive risks in project management: Managing Project Risks Peter J. Edwards, Paulo Vaz Serra, Michael Edwards, 2019-08-13 A comprehensive overview of project risk management, providing guidance on implementing and improving project risk management systems in organizations This book provides a comprehensive overview of project risk management. Besides offering an easy-to-follow, yet systematic approach to project risk management, it also introduces topics which have an important bearing on how risks are managed but which are generally not found in other books, including risk knowledge management, cultural risk-shaping, project complexity, political risks, and strategic risk management. Many new concepts about risk management are introduced. Diagrams and tables, together with project examples and case studies, illustrate the authors’ precepts and ideas. Each chapter in Managing Project Risks begins with an introduction to its topic and ends with a summary. The book starts by providing an understanding and overview of risk and continues with coverage of projects and project stakeholders. Ensuing chapters look at project risk management processes, contexts and risk drivers, identification, assessment and evaluation, response and treatment options, and risk monitoring and control. One chapter focuses entirely on risk knowledge management. Others explore the cultural shaping of risk, political risk in projects, computer applications, and more. The book finishes by examining the current state and potential future of project risk management. In essence, this book: Effectively communicates a conceptual and philosophical understanding of risk Establishes the nature of projects and the stakeholders involved in them Presents a systematic and logically progressive approach to the processes of project risk management Demonstrates how to recognize the drivers of project risks and the factors which shape them Emphasizes the importance of capturing and exploiting project risk knowledge Provides guidance about implementing and building (or improving) project risk management systems in organizations Managing Project Risks will benefit practitioners and students of project management across a wide range of industries and professions. |
| examples of positive risks in project management: Mastering Risk and Procurement in Project Management Randal Wilson, 2015 Effective risk management and procurement are crucial to project success. Unfortunately, many managers have spent relatively little time mastering these essential elements of the project management discipline, and many books on the subject treat these issues only lightly, if at all. In Mastering Risk and Procurement in Project Management, expert project manager and seasoned professor Randal Wilson focuses specifically on these essential techniques. Wilson addresses every stage of the project where risk management and procurement are relevant, especially planning, monitoring, and control. Teaching through the use of relevant examples and case studies, Wilson explains why risk management and procurement are so important to project success, illuminates the deep linkages amongst these tasks, shows how to avoid common pitfalls, and introduces best practice methodologies for integrating them throughout your business processes. Drawing on his own extensive experience, he offers in-depth coverage of topics ranging from contracting and risk monitoring to project close-out, and gives readers practical knowledge of critical processes and tasks in project management. |
| examples of positive risks in project management: PMP Project Management Professional Exam Study Guide Kim Heldman, Claudia M. Baca, Patti M. Jansen, 2007-07-30 Get the most comprehensive PMP® Exam study package on the market! Prepare for the demanding PMP certification exam with this Deluxe Edition of our PMP: Project Management Professional Exam Study Guide, Fourth Edition. Featuring a bonus workbook with over 200 extra pages of exercises, this edition also includes six practice exams, over two hours of audio on CD to help you review, additional coverage for the CAPM® (Certified Associate in Project Management) exam, and much more. Full coverage of all exam objectives in a systematic approach, so you can be confident you're getting the instruction you need for the exam Bonus workbook section with over 200 pages of exercises to help you master essential charting and diagramming skills Practical hands-on exercises to reinforce critical skills Real-world scenarios that put what you've learned in the context of actual job roles Challenging review questions in each chapter to prepare you for exam day Exam Essentials, a key feature in each chapter that identifies critical areas you must become proficient in before taking the exam A handy tear card that maps every official exam objective to the corresponding chapter in the book, so you can track your exam prep objective by objective On the accompanying CD you'll find: Sybex test engine: Test your knowledge with advanced testing software. Includes all chapter review questions and bonus exams. Electronic flashcards: Reinforce your understanding with flashcards that can run on your PC, Pocket PC, or Palm handheld. Audio instruction: Fine-tune your project management skills with more than two hours of audio instruction from author Kim Heldman. Searchable and printable PDF of the entire book. Now you can study anywhere, any time, and approach the exam with confidence. |
| examples of positive risks in project management: Human-System Integration in the System Development Process National Research Council, Division of Behavioral and Social Sciences and Education, Committee on Human Factors, Committee on Human-System Design Support for Changing Technology, 2007-06-15 In April 1991 BusinessWeek ran a cover story entitled, I Can't Work This ?#!!@ Thing, about the difficulties many people have with consumer products, such as cell phones and VCRs. More than 15 years later, the situation is much the same-but at a very different level of scale. The disconnect between people and technology has had society-wide consequences in the large-scale system accidents from major human error, such as those at Three Mile Island and in Chernobyl. To prevent both the individually annoying and nationally significant consequences, human capabilities and needs must be considered early and throughout system design and development. One challenge for such consideration has been providing the background and data needed for the seamless integration of humans into the design process from various perspectives: human factors engineering, manpower, personnel, training, safety and health, and, in the military, habitability and survivability. This collection of development activities has come to be called human-system integration (HSI). Human-System Integration in the System Development Process reviews in detail more than 20 categories of HSI methods to provide invaluable guidance and information for system designers and developers. |
| examples of positive risks in project management: Capturing Upside Risk David Hillson, 2019-06-26 With more than three decades of experience as a thought-leader and expert practitioner, PMI Fellow Dr. David Hillson shares practical insight into how upside risks can be identified, assessed, and managed as opportunities. After reviewing the benefits of identifying opportunities, the book steps through the opportunity identification and management process in detail, describing proven tools and techniques as well as specific tips to make them work in practice. The book places opportunity management in the context of traditional risk management, providing a familiar pathway that leads project managers to discover new benefits and successes. David Hillson is one of the foremost authorities on risk management. With his latest book he presents a strong case for managing opportunities. As with all of David’s books, the style of writing is engaging and easy to understand. There are many nuggets of wisdom in this book, as well as a hands-on approach to leveraging opportunity management as a way of improving project performance. — Cyndi Snyder Dionisio, PMI Fellow, Coronado CA, USA. (Chair of the PMBOK® Guide, Sixth Edition) I enjoyed reading this book, which is precise, clear, logical, and persuasive. The clarity of thought and expression explains why David is such a sought-after speaker. This book is a must-read for project risk practitioners, as well as for project professionals who are serious about addressing all the risks on their project, including the good ones. — Dr Dale Cooper, Cammeray NSW, Australia. (Director, Broadleaf Capital International) At last, a clear and valuable book linking both sides of the coin in risk management: threats and opportunities. David Hillson truly engages the reader on how to deal with these two types of risk in projects, sharing his wisdom and extensive experience in creating value from risk management. Anyone who has to manage risk in real-world projects should read this book to enhance their opportunity management skills. — Professor Salim Al-Harthi, Muscat, Oman. (Director of Risk Management Office, Sultan Qaboos University) It is vital for value creation in business and in life that we consider uncertainties that would have upside impacts on our objectives (opportunities), as well as downside impacts (threats). Business gets confused between opportunities where there is a binary choice to take or not, and true uncertain opportunities that can be seized, or left to chance. David has persevered in helping us understand this and this important book is a must-read for all leaders who want to create value through the proactive management of risk. — Dr Ruth Murray-Webster, Wakefield, UK. (Partner, Beyond the Deal LLP and Editor, APM Body of Knowledge, 7th Edition) As project managers, we always seem to focus on threats, negative risks. David Hillson, one of the foremost thought-leaders on risk management, explains approaches to identify and manage opportunities, positive risks and how this will help achieve project success. As with his previous books, David provides a structured approach with examples, tools, and techniques. An excellent resource for all project managers in today’s world. — Peter Monkhouse, Toronto ON, Canada. (Past Chair PMI Board of Directors) |
| examples of positive risks in project management: The Owner's Role in Project Risk Management National Research Council, Division on Engineering and Physical Sciences, Board on Infrastructure and the Constructed Environment, Committee for Oversight and Assessment of U.S. Department of Energy Project Management, 2005-02-25 Effective risk management is essential for the success of large projects built and operated by the Department of Energy (DOE), particularly for the one-of-a-kind projects that characterize much of its mission. To enhance DOE's risk management efforts, the department asked the NRC to prepare a summary of the most effective practices used by leading owner organizations. The study's primary objective was to provide DOE project managers with a basic understanding of both the project owner's risk management role and effective oversight of those risk management activities delegated to contractors. |
| examples of positive risks in project management: Agile Risk Management Alan Moran, 2014-03-18 This work is the definitive guide for IT managers and agile practitioners. It elucidates the principles of agile risk management and how these relate to individual projects. Explained in clear and concise terms, this synthesis of project risk management and agile techniques is illustrated using the major methodologies such as XP, Scrum and DSDM. Although the agile community frequently cites risk management, research suggests that risk is often narrowly defined and, at best, implicitly treated, which in turn leads to an inability to make informed decisions concerning risk and reward and a poor understanding of when to engage in risk-related activities. Moreover, the absence of reference to enterprise risk management means that project managers are unable to clearly articulate scope or tailor their projects in line with the wider expectations of the organisation. Yet the agile approach, with its rich toolset of techniques, is very well equipped to effectively and efficiently deal with the risks that arise in projects. Alan Moran addresses the above issues by proposing an agile risk-management process derived from classical risk management but adapted to the circumstances of agile projects. Though his main focus is on the software development process, much of what he describes could be applied to other types of IT projects as well. This book is intended for anyone who is serious about balancing risk and reward in the pursuit of value for their stakeholders, and in particular for those directly involved in agile software development who share a concern for how risk should be managed. Whilst a thorough background in risk management is not presumed, a basic level of familiarity with or exposure to agility is helpful. |
| examples of positive risks in project management: Project Stakeholder Management Pernille Eskerod, Anna Lund Jepsen, 2016-12-19 Carrying out a project as planned is not a guarantee for success. Projects may fail because project management does not take the requirements, wishes and concerns of stakeholders sufficiently into account. Projects can only be successful through contributions from stakeholders. And it is the stakeholders that evaluate whether they find the project successful - an evaluation based on criteria that go beyond receiving the project deliverables. More often than not, the criteria are implicit and change during the project course. This is an enormous challenge for project managers. The route to better projects, say Pernille Eskerod and Anna Lund Jepsen, lies in finding ways to improve project stakeholder management. To manage stakeholders effectively, you need to know your stakeholders, their behaviours and attitudes towards the project. The authors give guidance on how to adopt an analytical and structured approach; how to document, store and retrieve your knowledge; how to plan your stakeholder interactions in advance; and how to make your plans explicit, at the very least internally. A well-conceived plan can prevent you from being carried away in the ’heat of the moment’ and help you spend your limited resources for stakeholder management in the best way. To make this plan, you need to agree on the objectives of your stakeholder strategy and ways to achieve them. Project Stakeholder Management offers tactics and tools founded on established marketing communications theory as well as strategic management for doing just that. This book is part of Gower’s Fundamentals of Project Management Series. |
| examples of positive risks in project management: Prioritising Project Risks Martin Hopkinson, Paul Close, David Hillson, Stephen Ward, 2008 |
| examples of positive risks in project management: Effective Opportunity Management for Projects David Hillson, 2003-11-19 With step-by-step guidelines, this bestselling reference discusses the management of project opportunities by expanding the traditional risk management process to address opportunities alongside threats. It offers valuable tools and techniques that expose and capture opportunities, minimize threats, and deal with all types of uncertainty in your business and projects. Written by an experienced consultant and risk management specialist, this guide emphasizes that risk processes must cover both opportunities and threats if they are to assist in accomplishing project objectives and maximizing business benefits. |
| examples of positive risks in project management: Project Management Simplified Barbara Karten, 2016-01-06 Are projects a problem for you? Do your projects cost too much, take too long, or are just not quite right? If so, Project Management Simplified: A Step-by-Step Process is the book for you. It applies well-defined processes for managing projects to managing change in our lives. It describes an approach modeled on a process used successfully in busi |
| examples of positive risks in project management: Agile Practice Guide , 2017-09-06 Agile Practice Guide – First Edition has been developed as a resource to understand, evaluate, and use agile and hybrid agile approaches. This practice guide provides guidance on when, where, and how to apply agile approaches and provides practical tools for practitioners and organizations wanting to increase agility. This practice guide is aligned with other PMI standards, including A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, and was developed as the result of collaboration between the Project Management Institute and the Agile Alliance. |
| examples of positive risks in project management: Practitioner's Guide to Business Impact Analysis Priti Sikdar, 2017-09-19 This book illustrates the importance of business impact analysis, which covers risk assessment, and moves towards better understanding of the business environment, industry specific compliance, legal and regulatory landscape and the need for business continuity. The book provides charts, checklists and flow diagrams that give the roadmap to collect, collate and analyze data, and give enterprise management the entire mapping for controls that comprehensively covers all compliance that the enterprise is subject to have. The book helps professionals build a control framework tailored for an enterprise that covers best practices and relevant standards applicable to the enterprise. Presents a practical approach to assessing security, performance and business continuity needs of the enterprise Helps readers understand common objectives for audit, compliance, internal/external audit and assurance. Demonstrates how to build a customized controls framework that fulfills common audit criteria, business resilience needs and internal monitoring for effectiveness of controls Presents an Integrated Audit approach to fulfill all compliance requirements |
| examples of positive risks in project management: Fundamentals of Project Management James P. Lewis, 2002 Updated concepts and tools to set up project plans, schedule work, monitor progress-and consistently achieve desired project results.In today's time-based and cost-conscious global business environment, tight project deadlines and stringent expectations are the norm. This classic book provides businesspeople with an excellent introduction to project management, supplying sound, basic information (along with updated tools and techniques) to understand and master the complexities and nuances of project management. Clear and down-to-earth, this step-by-step guide explains how to effectively spearhead every stage of a project-from developing the goals and objectives to managing the project team-and make project management work in any company. This updated second edition includes: * New material on the Project Management Body of Knowledge (PMBOK) * Do's and don'ts of implementing scheduling software* Coverage of the PMP certification offered by the Project Management Institute* Updated information on developing problem statements and mission statements* Techniques for implementing today's project management technologies in any organization-in any industry. |
| examples of positive risks in project management: Integrated Cost-Schedule Risk Analysis Dr David Hulett, 2012-09-28 Project managers tend to believe their cost estimates - whether they have exceeded budgets in the past or not. It is dangerous to accept the engineering cost estimates, which are often optimistic or unrealistic. Though cost estimates incorporate contingency reserves below-the-line, these estimates of reserves often do not benefit from a rigorous assessment of risk to project costs. Risks to cost come from multiple sources including uncertain project duration, which is often ignored in cost risk analyses. In short, experience shows that cost estimating on projects is rarely successful - cost overruns routinely occur. There are effective ways to estimate the impact on the cost of complex projects from project risks of all types, including traditional cost-type risks and the indirect but often substantial impact from risks usually thought of as affecting project schedules. Integrated cost-schedule risk anlaysis helps us determine how likely the project will go over budget with the current plan, how much contingency reserve is required to achieve a desired level of certainty, and which risks are most important so the project manager can mitigate them and achieve a better result. Integrated Cost-Schedule Risk Analysis provides solutions for these and other challenges. This book follows on from David Hulett's highly-praised Practical Schedule Risk Analysis. It focuses on the way that schedule risk can generate cost risk, and how to handle this relationship. It also applies the Risk Driver Method to the analysis so that you can clearly and transparently identify the key risks, rather than just the most risky cost line items. With detailed worked examples and over 70 illustrations, Integrated Cost-Schedule Risk Analysis offers the definitive guide to this critically important aspect of project management from surely the world's leading commentator. |
| examples of positive risks in project management: Reducing Project Risk Ralph L. Kliem, Irwin S. Ludin, 1997 Drawing on examples from a variety of business activities as well as on their own extensive experience, the authors propose a systematic approach to dealing with risk. They provide both a conceptual framework and the practical techniques for identifying, analysing and controlling risks of any type. Among other things you will learn:* how to carry out an objective review of the factors involved* how to recognize the warning signs so that you can head off trouble before it strikes* how to take care of the 'people side' of project management. |
| examples of positive risks in project management: The Project Management Answer Book Jeff Furman PMP, Jeff Furman, 2014-12 If it's essential to project management... it's in here! The first edition of The Project Management Answer Book addressed all the key principles of project management that every project manager needs to know. With a new chapter on scrum agile, updates throughout, and many new PMP® test tips, this new edition builds on that solid foundation. The structure of this update maps closely to the PMBOK® Guide, Fifth Edition, and is designed to assist anyone studying for the PMP® and other certification exams. Helpful sections cover: • Networking and social media tips for PMs, including the best professional organizations, virtual groups, and podcast resources • The formulas PMs need to know, plus a template to help certification candidates prepare and self-test for their exams • Quick study sheet for the processes covered on the PMP® exam • Key changes in PMBOK® Guide, Fifth Edition, for readers familiar with earlier versions who want “the skinny” on the new version. PMs at every level will find real gold in the information nuggets provided in this new edition. Those new to project management will find the comprehensive coverage and the depth of the answers especially valuable, and will like the easy-to-read style and Q&A format. For experienced managers looking for new tools and skills to help them pass their PMP® or other certification exams, this is a must-have resource. |
| examples of positive risks in project management: Why Startups Fail Tom Eisenmann, 2021-03-30 If you want your startup to succeed, you need to understand why startups fail. “Whether you’re a first-time founder or looking to bring innovation into a corporate environment, Why Startups Fail is essential reading.”—Eric Ries, founder and CEO, LTSE, and New York Times bestselling author of The Lean Startup and The Startup Way Why do startups fail? That question caught Harvard Business School professor Tom Eisenmann by surprise when he realized he couldn’t answer it. So he launched a multiyear research project to find out. In Why Startups Fail, Eisenmann reveals his findings: six distinct patterns that account for the vast majority of startup failures. • Bad Bedfellows. Startup success is thought to rest largely on the founder’s talents and instincts. But the wrong team, investors, or partners can sink a venture just as quickly. • False Starts. In following the oft-cited advice to “fail fast” and to “launch before you’re ready,” founders risk wasting time and capital on the wrong solutions. • False Promises. Success with early adopters can be misleading and give founders unwarranted confidence to expand. • Speed Traps. Despite the pressure to “get big fast,” hypergrowth can spell disaster for even the most promising ventures. • Help Wanted. Rapidly scaling startups need lots of capital and talent, but they can make mistakes that leave them suddenly in short supply of both. • Cascading Miracles. Silicon Valley exhorts entrepreneurs to dream big. But the bigger the vision, the more things that can go wrong. Drawing on fascinating stories of ventures that failed to fulfill their early promise—from a home-furnishings retailer to a concierge dog-walking service, from a dating app to the inventor of a sophisticated social robot, from a fashion brand to a startup deploying a vast network of charging stations for electric vehicles—Eisenmann offers frameworks for detecting when a venture is vulnerable to these patterns, along with a wealth of strategies and tactics for avoiding them. A must-read for founders at any stage of their entrepreneurial journey, Why Startups Fail is not merely a guide to preventing failure but also a roadmap charting the path to startup success. |
| examples of positive risks in project management: Effective Opportunity Management for Projects David Hillson, 2003-11-19 With step-by-step guidelines, this bestselling reference discusses the management of project opportunities by expanding the traditional risk management process to address opportunities alongside threats. It offers valuable tools and techniques that expose and capture opportunities, minimize threats, and deal with all types of uncertainty in your business and projects. Written by an experienced consultant and risk management specialist, this guide emphasizes that risk processes must cover both opportunities and threats if they are to assist in accomplishing project objectives and maximizing business benefits. |
| examples of positive risks in project management: Managing Project Risks Peter J. Edwards, Paulo Vaz Serra, Michael Edwards, 2019-11-04 A comprehensive overview of project risk management, providing guidance on implementing and improving project risk management systems in organizations This book provides a comprehensive overview of project risk management. Besides offering an easy-to-follow, yet systematic approach to project risk management, it also introduces topics which have an important bearing on how risks are managed but which are generally not found in other books, including risk knowledge management, cultural risk-shaping, project complexity, political risks, and strategic risk management. Many new concepts about risk management are introduced. Diagrams and tables, together with project examples and case studies, illustrate the authors’ precepts and ideas. Each chapter in Managing Project Risks begins with an introduction to its topic and ends with a summary. The book starts by providing an understanding and overview of risk and continues with coverage of projects and project stakeholders. Ensuing chapters look at project risk management processes, contexts and risk drivers, identification, assessment and evaluation, response and treatment options, and risk monitoring and control. One chapter focuses entirely on risk knowledge management. Others explore the cultural shaping of risk, political risk in projects, computer applications, and more. The book finishes by examining the current state and potential future of project risk management. In essence, this book: Effectively communicates a conceptual and philosophical understanding of risk Establishes the nature of projects and the stakeholders involved in them Presents a systematic and logically progressive approach to the processes of project risk management Demonstrates how to recognize the drivers of project risks and the factors which shape them Emphasizes the importance of capturing and exploiting project risk knowledge Provides guidance about implementing and building (or improving) project risk management systems in organizations Managing Project Risks will benefit practitioners and students of project management across a wide range of industries and professions. |
| examples of positive risks in project management: Project Management Essentials, Fourth Edition William P. Athayde, Ruth Elswick, Paul Lombard, 2018-12-04 If you’re new to project management or need to refresh your knowledge, Project Management Essentials, Fourth Edition is the quickest and easiest way to learn how to manage projects successfully. The concepts presented are not rocket science. They are all common sense. Yet they require knowledge and discipline – a framework to manage projects right and the will to adhere to it. If you consistently use the simple tools and templates provided you’ll succeed. It’s as simple as that. In this book you’ll discover: The key skills and knowledge you’ll need to be an effective project manager How to create an effective charter to start your project off right Guidelines for building a usable project plan Tips for breaking your project work into manageable pieces Techniques for accurately estimating project cost and schedule Help in building a team and different leadership styles you might apply to manage them Strategies to deal with conflicts, change, uncertainty, and risk How to report on the progress of the project and keep everyone concerned happy Project Management Essentials is purposefully written in short, clear chapters to make project management more easily understood. The authors, all valued senior faculty of PM College, bring both their business experience and their academic background to make these chapters come alive. This updated edition offers even more templates and content than the widely used earlier editions and complies with the latest project management standard, the PMBOK® Guide Sixth Edition. |
| examples of positive risks in project management: BUDGET or BLEED Rajasekhar Golla, 2023-03-25 Managing construction costs isn’t just about having the funding and spending it on the right things. It’s also about having the proper cash flow to meet expenses when they arise. There are many places where money is spent and many opportunities for costs to get out of control. Cost control in construction is the difference between making a profit and absorbing a loss in many cases. This guide breaks down what cost control is and how to improve your own processes. Cost control in construction is the process by which managers keep expenses under control by managing labor, material, and overhead costs to ensure that the project finishes on budget. Cost control relies on sound estimates and constant monitoring over the course of a project. Without cost control, a project quickly burns through its budget and leaves the construction firm with very little profit or even a loss. As a result, good cost control is a must for any construction business that wants to be successful. |
| examples of positive risks in project management: Project Management Ofer Zwikael, John R. Smyrk, 2019-03-19 Winner of 2020 PMI David I. Cleland Project Management Literature Award This book is a complete project management toolkit for project leaders in business, research and industry. Projects are approved and financed to generate benefits. Project Management: A Benefit Realisation Approach proposes a complete framework that supports this objective – from project selection and definition, through execution, and beyond implementation of deliverables until benefits are secured. The book is the first to explain the creation of organisational value by suggesting a complete, internally-consistent and theoretically rigorous benefit-focused project management methodology, supported with an analytical technique: benefit engineering. Benefit engineering offers a practical approach to the design and maintenance of an organisation’s project portfolio. Building upon the authors’ earlier successful book, Project Management for the Creation of Organisational Value, this comprehensively revised and expanded new book contains the addition of new chapters on project realisation. The book offers a rigorous explanation of how benefits emerge from a project. This approach is developed and strengthened — resulting in a completely client-oriented view of a project. Senior executives, practitioners, students and academics will find in this book a comprehensive guide to the conduct of projects, which includes robust models, a set of consistent principles, an integrated glossary, enabling tools, illustrative examples and case studies. |
| examples of positive risks in project management: Leading Change John P. Kotter, 2012 From the ill-fated dot-com bubble to unprecedented merger and acquisition activity to scandal, greed, and, ultimately, recession -- we've learned that widespread and difficult change is no longer the exception. By outlining the process organizations have used to achieve transformational goals and by identifying where and how even top performers derail during the change process, Kotter provides a practical resource for leaders and managers charged with making change initiatives work. |
| examples of positive risks in project management: Project Risk Management Guidelines Dale Cooper, Pauline Bosnich, Stephen Grey, Grant Purdy, Geoffrey Raymond, Phil Walker, Mike Wood, 2014-09-23 This new edition of Project Risk Management Guidelines has been fully updated to include the new international standards, ISO 31000 Risk management and IEC 62198 Managing risk in projects. The book explains the standards and how they can be applied. It provides a clear introduction to basic project risk management, introduces the reader to specialized areas of projects and procurement, and shows how quantitative risk analysis methods can be used in large projects. Chapter by chapter, the authors present simple, practical steps and illustrate them with examples drawn from their extensive experience from around the world, in many different industry sectors and cultures and at all stages of projects from conception through development and into execution. Qualitative and quantitative approaches are covered. Traditional structures and processes are discussed as well as developments in the way projects are conducted, such as outsourcing arrangements and risk-sharing structures like public–private partnerships. Improved outcomes can be achieved when sound risk management is used to capture opportunities and reduce threats. Its unique focus and wealth of checklists, tables and other resources make this book an essential and enduring tool for anyone involved with project work. |
| examples of positive risks in project management: Project Management Professional (PMP)® Cert Guide Gregory M. Horine, Asad E. Haque, 2023-03-31 This is the eBook version of the print title. Note that the eBook does not provide access to the practice test software that accompanies the print book. Learn, prepare, and practice for the Project Management Professional (PMP)® Exam success with this Cert Guide from Pearson IT Certification, a leader in IT Certification learning. Master PMP exam topics Assess your knowledge with chapter-ending quizzes Review key concepts with exam preparation tasks Practice with realistic exam questions Project Management Professional (PMP)® Exam Cert Guide is a best-of-breed exam study guide. Author Gregory M. Horine, and author and expert instructor Asad Haque share preparation hints and test-taking tips, helping you identify areas of weakness and improve both your conceptual knowledge and hands-on skills. Material is presented in a concise manner, focusing on increasing your understanding and retention of exam topics. The book presents you with an organized test preparation routine through the use of proven series elements and techniques. Exam topic lists make referencing easy. Chapter-ending Exam Preparation Tasks help you drill on key concepts you must know thoroughly. Review questions help you assess your knowledge, and a final preparation chapter guides you through tools and resources to help you craft your final study plan. The companion website contains the powerful Pearson Test Prep practice test software, complete with hundreds of exam-realistic questions. The assessment engine offers you a wealth of customization options and reporting features, laying out a complete assessment of your knowledge to help you focus your study where it is needed most. Well regarded for its level of detail, assessment features, and challenging review questions and exercises, this study guide helps you master the concepts and techniques that will enable you to succeed on the exam the first time. This book will prepare you for the PMP® exam, enabling you to Understand the key elements of the PMBOK® Guide that are critical for exam success Learn PMI's approach to project management Streamline your exam preparations via exam insights, tips, and study strategies Improve your exam readiness with a clear understanding of test-taking strategies and PMP exam question types and scenarios Understand how to plan and close projects according to PMI guidelines Master the differences between predictive, agile, and hybrid project approaches Clarify the differences between the roles of the predictive project manager and the agile team facilitator Understand how to collaborate, engage, and motivate teams and stakeholders for successful completion of the project |
| examples of positive risks in project management: Proactive Risk Management Guy M. Merritt, 2020-10-28 Listed as one of the 30 Best Business Books of 2002 by Executive Book Summaries. Proactive Risk Management's unique approach provides a model of risk that is scalable to any size project or program and easily deployable into any product development or project management life cycle. It offers methods for identifying drivers (causes) of risks so you can manage root causes rather than the symptoms of risks. Providing you with an appropriate quantification of the key factors of a risk allows you to prioritize those risks without introducing errors that render the numbers meaningless. This book stands apart from much of the literature on project risk management in its practical, easy-to-use, fact-based approach to managing all of the risks associated with a project. The depth of actual how-to information and techniques provided here is not available anywhere else. |
| examples of positive risks in project management: The Pig Book Citizens Against Government Waste, 2013-09-17 The federal government wastes your tax dollars worse than a drunken sailor on shore leave. The 1984 Grace Commission uncovered that the Department of Defense spent $640 for a toilet seat and $436 for a hammer. Twenty years later things weren't much better. In 2004, Congress spent a record-breaking $22.9 billion dollars of your money on 10,656 of their pork-barrel projects. The war on terror has a lot to do with the record $413 billion in deficit spending, but it's also the result of pork over the last 18 years the likes of: - $50 million for an indoor rain forest in Iowa - $102 million to study screwworms which were long ago eradicated from American soil - $273,000 to combat goth culture in Missouri - $2.2 million to renovate the North Pole (Lucky for Santa!) - $50,000 for a tattoo removal program in California - $1 million for ornamental fish research Funny in some instances and jaw-droppingly stupid and wasteful in others, The Pig Book proves one thing about Capitol Hill: pork is king! |
| examples of positive risks in project management: Your Project Management Coach Bonnie Biafore, Teresa S. Stover, 2012-02-07 A pragmatic approach to project management Many projects fail to deliver on time or on budget, or even to deliver a workable product that satisfies the customer. While good project management goes a long way towards ensuring success, managers often fail to follow the plans they implement. This unique guide helps you understand and successfully handle project management, once and for all. Covering practical ways to solve problems you'll typically face when managing actual projects, this pragmatic book takes you through a full project management lifecycle. You'll find ample tips, tricks, and best practices--all richly illustrated with real case studies. Find out how to plan for risk, get wayward projects back on track, manage a whole portfolio of projects, and much more. Each topic in the book is mapped to the exam topics of the PMP® Certification Exam, so PMP certification candidates can also use this book for test prep. The book's companion web site offers downloadable forms, templates, and checklists. Explains project management for the real world using a pragmatic approach that includes field-tested techniques, case studies to illustrate concepts, helpful tips and tricks, and downloadable content Guides you to project management success by providing friendly advice, as if you had a friend or project management consultant at your side, discussing issues Explores how to run successful meetings, how to get wayward projects back on track, planning for risk, and how to manage multiple projects Manage your next project with a personal consultant: your own copy of Your Project Management Coach: Best Practices for Managing Projects in the Real World. (PMP is a registered marks of the Project Management Institute, Inc.) |
| examples of positive risks in project management: Project Risk Management Roland Wanner, 2013-03-14 Projects fail because of risks that are discovered too late, are ignored or simply are not sought. This statement seems trivial at first glance, but it is not so obvious for many stakeholders. With effective risk management, you keep your project under control and eliminate 90% of all project problems before they occur. This book describes the most important methods and tools how to successfully apply risk management in projects in a practical and easy-to-use way. You will receive hands-on instructions and tips that you can immediately implement in your project. The terminology described herein follows the generally accepted PMBOK(r) Guide Fifth Edition (2013). With this knowledge, you can make your projects even more successful and protect your project life from many problems. In this book, you will learn how to implemented risk management in projects. You will receive hands-on instructions and tips on how you make your project even more successful. Why Risk Management? The Risk Management Process Step 1: Risk Management Planning Step 2: Risk Identification Step 3: Qualitative and Quantitative Risk Analysis Step 4: Risk Response Planning Step 5: Risk Monitoring and Control Step 6: Risk Communication and Documentation An essential book for project Managers who want to keep their projects under control. This book about project risk management should be on the desk of each project manager. |
| examples of positive risks in project management: Risk Management Treatise for Engineering Practitioners Chike F Oduoza, 2019-04-23 This book Risk Management Treatise for Engineering Practitioners has been published by academic researchers and experts on risk management concepts mainly in the construction engineering sector. It addresses basic theories and principles of risk management backed up, in most cases, with case studies. The contributions for this book came from authors in Europe, the Far East and Africa, and it is hoped that the contents of this book will be useful to anyone interested in understanding the principles and applications of risk management, especially within the construction engineering sector. Researchers and postgraduate students in science and engineering disciplines, especially those interested in project management, will find this book useful. |
| examples of positive risks in project management: Managing Risk in Projects Dr David Hillson, 2012-09-28 Projects are risky undertakings, and modern approaches to managing projects recognise the central need to manage the risk as an integral part of the project management discipline. Managing Risk in Projects places risk management in its proper context in the world of project management and beyond, and emphasises the central concepts that are essential in order to understand why and how risk management should be implemented on all projects of all types and sizes, in all industries and in all countries. The generic approach detailed by David Hillson is consistent with current international best practice and guidelines (including 'A Guide to the Project Management Body of Knowledge' (PMBoK) and the 'Project Risk Management Practice Standard' from PMI, the 'APM Body of Knowledge' and 'Project Risk Analysis & Management (PRAM) Guide' from APM, 'Management of Risk: Guidance for Practitioners' from OGC, and the forthcoming risk standard from ISO) but David also introduces key developments in the risk management field, ensuring readers are aware of recent thinking, focusing on their relevance to practical application. Throughout, the goal is to offer a concise description of current best practice in project risk management whilst introducing the latest relevant developments, to enable project managers, project sponsors and others responsible for managing risk in projects to do just that - effectively. |
| examples of positive risks in project management: The Art and Science of Project Management 3rd Edition Roger Warburton, Vijay Kanabar, 2018-08-07 The Art & Science of Project Management. This is the third edition, which is updated for the PMBOK 6th edition. Master project management with this book from authors experienced in practice, teaching, and research. You will learn: the foundations of Project Management, explained with dozens of examples; what works and what doesn't; and how the latest research applies to your project. This Third Edition: Covers Projects and their Environment; Programs, Portfolios, and Project Selection; and the Project Manager. This third edition: covers the essential Technical, Behavioral, Business and Strategic Skills; includes a new section on Agile Project Management; includes the case of a mobile app following the scrum framework; and includes several worked projects and a visual tutorial for Microsoft Project(R). |
| examples of positive risks in project management: The Great Mental Models, Volume 1 Shane Parrish, Rhiannon Beaubien, 2024-10-15 Discover the essential thinking tools you’ve been missing with The Great Mental Models series by Shane Parrish, New York Times bestselling author and the mind behind the acclaimed Farnam Street blog and “The Knowledge Project” podcast. This first book in the series is your guide to learning the crucial thinking tools nobody ever taught you. Time and time again, great thinkers such as Charlie Munger and Warren Buffett have credited their success to mental models–representations of how something works that can scale onto other fields. Mastering a small number of mental models enables you to rapidly grasp new information, identify patterns others miss, and avoid the common mistakes that hold people back. The Great Mental Models: Volume 1, General Thinking Concepts shows you how making a few tiny changes in the way you think can deliver big results. Drawing on examples from history, business, art, and science, this book details nine of the most versatile, all-purpose mental models you can use right away to improve your decision making and productivity. This book will teach you how to: Avoid blind spots when looking at problems. Find non-obvious solutions. Anticipate and achieve desired outcomes. Play to your strengths, avoid your weaknesses, … and more. The Great Mental Models series demystifies once elusive concepts and illuminates rich knowledge that traditional education overlooks. This series is the most comprehensive and accessible guide on using mental models to better understand our world, solve problems, and gain an advantage. |
| examples of positive risks in project management: Reconstructing Project Management Peter W. G. Morris, 2013-03-08 This hugely informative and wide-ranging analysis on the management of projects, past, present and future, is written both for practitioners and scholars. Beginning with a history of the discipline’s development, Reconstructing Project Management provides an extensive commentary on its practices and theoretical underpinnings, and concludes with proposals to improve its relevancy and value. Written not without a hint of attitude, this is by no means simply another project management textbook. The thesis of the book is that ‘it all depends on how you define the subject’; that much of our present thinking about project management as traditionally defined is sometimes boring, conceptually weak, and of limited application, whereas in reality it can be exciting, challenging and enormously important. The book draws on leading scholarship and case studies to explore this thesis. The book is divided into three major parts. Following an Introduction setting the scene, Part 1 covers the origins of modern project management – how the discipline has come to be what it is typically said to be; how it has been constructed – and the limitations of this traditional model. Part 2 presents an enlarged view of the discipline and then deconstructs this into its principal elements. Part 3 then reconstructs these elements to address the challenges facing society, and the implications for the discipline, in the years ahead. A final section reprises the sweep of the discipline’s development and summarises the principal insights from the book. This thoughtful commentary on project (and program, and portfolio) management as it has developed and has been practiced over the last 60-plus years, and as it may be over the next 20 to 40, draws on examples from many industry sectors around the world. It is a seminal work, required reading for everyone interested in projects and their management. |
| examples of positive risks in project management: Embracing Risk, Enabling Choice , 2018 |
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