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    Managing Risk in Large Projects and Complex Procurements

     
    Reducing risk when it counts the most.
    4/18/2005

    Managing risk when developing a new toothbrush is one thing, quite another when developing a new bridge.

    This book focuses on risk management in big and complex projects, although the authors—all risk-management practitioners and consultants—say the basic principles are applicable on almost any kind of project. The purpose of managing risk, the authors declare simply, "is to obtain better project outcomes, in terms of schedule, cost, and operations performance."

    But risk management is not a project-by-project undertaking—it's a company-wide attitude and set of procedures integrated with other project management functions, with responsibility shared by all stakeholders.

    The basic process is to first establish the context, then identify, analyze, evaluate, and treat the risks. Processes and results are monitored and communicated to appropriate levels in the organization. The authors elaborate by looking at such items as managing opportunities presented through process, financing options, market testing, and cost estimation. The book includes plenty of checklists and case studies.—Sean Silverthorne

    Table of Contents:

      Introduction to project risk management
      Part I
      The basics of project risk management
    1. The project risk management approach
    2. Establish the context
    3. Risk identification
    4. Qualitative risk assessment
    5. Semi-quantitative risk assessment
    6. Risk treatment
    7. Monitoring and review
    8. Communication and reporting
    9. Project processes and plans
    10. Simplifying the process
    11. Managing opportunities
    12. Other approaches to project risk management

    13. Part II
      Extending the basic process
    14. Case study: tender evaluation
    15. Contracts and risk allocation
    16. Market testing and outsourcing
    17. Public-private partnerships and private financing
    18. Technical tools and techniques
    19. Introduction to environmental risk management

    20. Part III
      Quantification of project risks
    21. Introduction to quantification for project risks
    22. Cost-estimating case studies
    23. Case study: planning a timber development
    24. Capital evaluation for large resource projects
    25. Risk analysis and economic appraisal
    26. Conclusions

    27. Part IV
      Additional information and supporting material
    28. Risk management process checklist
    29. Worksheets and evaluation tables
    30. Examples of risks and treatments
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