Managing Project Risk
Authors: Harold Ainsworth
Managing Project Risk is designed to assist senior managers who exercise project oversight of project investments. By understanding risk management practices, they can ensure project investments are value driven to achieve the planned results.
Risk management is not about avoiding risk but rather about fully understanding its nature and planning appropriate responses so that the organization can undertake and effectively manage challenging ventures in order to realize benefits from those projects.
Managing project risk needs to operate well not only at the project or program level, but also in Governance forums where key decisions are required about risk management practices to support Project Managers and their teams.
The book fully explores traditional risk management including a basic quantitative approach. The author emphasizes certain types of risks that are not amenable to standardized approaches. These require greater levels of dialogue and collaboration among senior management to develop a suitable risk management plan.
The benefits and limitations of risk management are covered along with suggestions for how organizations can move beyond a “tick the box” approach to a more considered, collaborative and mature level of risk management for project investments.