Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project, by Tom Kendrick PMP
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Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project, by Tom Kendrick PMP
PDF Ebook Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project, by Tom Kendrick PMP
Projects--especially complex ones--are inherently risky. Between time constraints, technical challenges, and resource issues, things can easily go wrong--making the identification of potential risks an essential component of every project manager's job. Fully updated and consistent with the Risk Management Professional (RMP) certification and the "Guide to the Project Management Body of Knowledge" (PMBOK(R)), "Identifying and Managing Project Risk" remains the definitive resource for project managers seeking to guard against failure. Drawing on real-world situations and hundreds of examples, the book outlines the risk management process and provides proven methods for project risk planning. Readers will learn how to use high-level risk assessment tools, implement a system for monitoring and controlling projects, and properly document every consideration. Analyzing aspects such as project scope, available resources, and scheduling, the third edition also offers fresh guidance on program risk management, qualitative and quantitative risk analysis, simulation and modeling, and significant "non-project" risks. This practical book will help readers eliminate surprises and keep projects on track.
Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project, by Tom Kendrick PMP - Amazon Sales Rank: #136695 in Books
- Brand: AMACOM
- Published on: 2015-03-25
- Original language: English
- Number of items: 1
- Dimensions: 9.10" h x 1.50" w x 6.20" l, .0 pounds
- Binding: Hardcover
- 400 pages
Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project, by Tom Kendrick PMP Review
“Detailed, well-organized and comprehensive, Identifying and Managing Project Risk takes you through the planning, assessment and responses required for any kind of project of any size.” --Soundview
From the Inside Flap
Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources . . . which is why the identification of potential risks is an essential part of your job as a project manager. Things that can go wrong often do, so to plan for success, you need to have a thorough understanding of the risks inherent during every phase of the project life cycle.
Drawing on real-world situations and hundreds of examples, this book outlines the risk management process and provides proven methods for project risk planning. Long considered the definitive resource for project managers seeking to guard against failure—and now fully updated and consistent with the Risk Management Professional (RMP) certification and the Guide to the Project Management Body of Knowledge (PMBOK®)—Identifying and Managing Project Risk is the one book no project manager should be without.
Outlining proven methods, demonstrating key ideas for project risk planning, and showing how to use high-level risk assessment tools, the book details what many once considered a truly impossible project—the building of the Panama Canal—to demonstrate key ideas in the risk management process. You’ll become familiar with essential concepts involved in project risk planning, with indispensable guidance on topics such as:
• The benefits and uses of risk data
• Setting limits and defining deliverables
• Procurement planning and source selection
• Constraint management and risk discovery
• Quantitative and qualitative analysis
• Project simulation and modeling
• And much more
The book also contains sections on the different types of risk to consider when planning; cost estimating and budgeting; how to identify key issues associated with project metrics; Work Breakdown Structure (WBS); analysis of scale; and activity sequencing. You’ll learn how to properly document every possible consideration; implement a complete system for monitoring and controlling projects; and use high-level risk-assessment tools.
In addition, the Third Edition moves beyond risk management basics such as insurance, financial, and investment portfolio risk to offer fresh, up-to-the-minute guidance on topics including program risk management, qualitative and quantitative risk analysis, simulation and modeling, significant “non-project” risks, and more.
Complicated projects are inherently risky business. Fully updated and revised, the Third Edition of Identifying and Managing Project Risk is the essential guide for avoiding surprises, and achieving incredible project success.
TOM KENDRICK, PMP, has over 35 years of project and program experience, including senior positions with Hewlett-Packard and Visa. A respected author, he received PMI’s David I. Cleland Project Management Literature Award for the previous edition of this book. He is the Program Director for Project Management at UC Berkeley Extension.
From the Back Cover
The ultimate, most comprehensive resource on project risk management, Identifying and Managing Project Risk gives you the methodology and expert advice you need to keep every project safely on track. Extensively revised, the Third Edition is once again consistent with the Guide to the Project Management Body of Knowledge (PMBOK®) and the Risk Management Professional (RMP) certification.
Identifying and Managing Project Risk takes you through every phase of a project, giving you dependable, repeatable techniques for considering all conceivable types of risk at any and every point in the process. Helping you eliminate surprises and transform risk into a variable you can manage and keep safely under control, the book provides you with the latest and best thinking on how to minimize risk and achieve incredible success.
Advance Praise for IDENTIFYING and MANAGING PROJECT RISK, Third Edition
“Identifying and Managing Project Risk remains the foundation for every project risk management library. Tom Kendrick’s applications of real world events and how risk management relates to them makes the material both real and easy to understand. Most important, it readily shows readers how to deal with their own situations. A must-read for any serious project manager.” — Craig D. Peterson, PMP, President, Risk Management Specific Interest Group
“Tom Kendrick’s book provides a useful model for managing project risks. It’s filled with valuable insights, illustrations, and rich examples that may be directly applied to readers’ own projects. Among my top recommendations.” — Jan Birkelbach, MBA, PMP, Project Team Consultant
“Risk management is all about setting yourself up for success at the beginning of a project. Tom Kendrick’s book is an excellent reference to do just that—arming you with valuable and practical information.” — Laszlo A. Retfalvi, P.Eng. PMP PMI-RMP; Principal at Retfalvi and Associates; and author of The Power of Project Management Leadership
“I have read and reviewed countless books for my graduate level Risk Management class, and Kendrick’s Identifying and Managing Project Risk was clearly the best available in print. The material is accessible for the inexperienced student, and thoroughly enjoyable and relevant for even the most experienced project manager.” — John J. Conard, Jr., Professor of the Practice, Project Management School of Engineering, Kansas University
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Most helpful customer reviews
52 of 55 people found the following review helpful. Required reading for all project managers and sponsors By Patrick Neal This volume may be the best one I have ever read on the subject of risk in the project arena. Kendrick has captured the best of current practical thinking on project risk and how to identify and manage it. And the author has carefully linked theory and practice to the Project Management Institute's "Project Mangement Body of Knowledge." In addition this book is exceedingly well written and very readable (a rarity in this genre).Kendrick approaches risk identification from the perspective of the project manager in the areas of scope (project deliverables and product), resources (people, materials, and money), and schedule (time). He addresses each area in a separate chapter with practical advice on how to identify and document potential risks. An aspect of these three chapters I particularly appreciate is the depth of information that allows the reader to address each area of risk at different levels. Kendrick does this by providing an array of analytical tools. For example in Chapter 4, "Identifying Project Schedule Risks," the reader could use the list of common schedule risks and probably account for 80% of the schedule risks for their project, or move to a deeper analysis of risks associated with delays, dependencies, and errors in estimation. In the area of estimation the reader is presented with an array of estimating techniques that can be used as appropriate to detect potential risks in estimation.Chapter seven on "Quantifying and Analyzing Activity Risk" appears just in time. After reading the first six chapters the reader may throw up their hands and declare "I can't manage all of this!" As an experienced project manager, Kendrick gives us tools to help select the risks to manage. All potential risks on a project are not manageable or worth the time and effort to manage. This chapter gives sage advice on how to select the vital few.A key element in Kendrick's approach is distinguishing what he calls "activity risk" from "project risk." It is easy for the project manager to focus on risks associated with various activities and forget the larger picture. In fact there may be times when the risks associated with each activity seem minor but when the project is viewed as a whole the project is very risky. Kendrick provides tools for quantifying and analyzing risk at the project level as well as a chapter on managing project level risk.I end this review with three overall comments. First, pages 17-24 should be required reading for all senior managers and anyone who sponsors a project and there should be a test at the end. The biggest risk for too many projects is unknowing, unthinking, or uncaring managers who are driven by near term profits and stock prices. Second, readers should not be put off by Kendrick's inclusion of statistical and mathematical information. Such information comprises less than 5% of this book and it would be a shame to miss the other 95% due to a fear and loathing of numbers. Finally, if you can't find any other reason to read this gem, read it for the intriguing history of the building of the Panama Canal. If Kendrick ever decides to stop managing projects, he has a bright future as a writer of interesting history.
20 of 23 people found the following review helpful. Practical Risk Management By Alf Reviewed by Al DeLucia DirectorProject Management DivisionGSA, PhiladelphiaAnyone who - like me -- has struggled to relate the abstract discussion of Risk Management in the PMBOK to actual project management practice will welcome this down-to-earth presentation. This book shows how to incorporate risk management into the planning of your project along the way - the entire way -- of the project development sequence.Mr. Kendrick had many years of practical project management experience with Hewlett- Packard and headed their in-house project management training and consulting program. Over a period of 10 years, he trained hundreds of project managers at HP, in other organizations world-wide, and at the University of California at Berkeley and systematically collected information about the most significant risks they had encountered in their projects. The result is a database called PERIL (Project Experience Risk Information Library), that contains 222 projects sorted into risk categories based on type and impact. In this book, these results are integrated with the PMBOK processes of project development in a way that shows what project management is really all about.Anecdotes from the construction of the Panama Canal are interestingly presented at the ends of the chapters. These describe how the concepts of each chapter were applied - or not - first by the French in their failed attempt to build the canal, and then by the Americans in their successful endeavor under the sponsorship of Teddy Roosevelt.
12 of 14 people found the following review helpful. A "Must Have" for Your Library By Sue White As the other reviewers have indicated, this book is an excellent addition to your library.It is well-written, well-organized, and supported by real-life data from his PERIL database (compiled from hundreds of projects, world-wide, over the past decade). The book makes good use of bullets and diagrams to emphasize and/or explain important points.I particularly liked the way he correlated his material with the Project Management Institute (PMI)'s PMBOK.Further, I appreciated his discussion of some of the most difficult issues that arise when implementing a formalized project management methodology (including some that are seldom addressed in books), e.g.:o Tips for persuading senior level management of the necessity of a formalized project management methodologyo Recognizing the power shift that occurs within a company when formalized project management/portfolio management processes are implemented and followedo Metrics, derived from the PERIL database, relating to things such as the impact of the permanent (or temporary) loss of a project team member. (I'm always looking for metrics to support some business case, or other request to senior management, for additional ... time ... resources ... budget, etc.)o The Appendix, which listed some of the Schedule, Resource and Scope risks from the PERIL databaseo The sample Risk Questionnaire, and the many other tools, tip and procedures included in the bookOverall, I give it five stars and expect that it will become "dog-eared" very quickly, from heavy use, as I refer to it often in my work.
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