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Project Risk Management: Essential Methods for Project Teams and Decision Makers, by Yuri Raydugin
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An easy to implement, practical, and proven risk management methodology for project managers and decision makers
Drawing from the author's work with several major and mega capital projects for Royal Dutch Shell, TransCanada Pipelines, TransAlta, Access Pipeline, MEG Energy, and SNC-Lavalin, Project Risk Management: Essential Methods for Project Teams and Decision Makers reveals how to implement a consistent application of risk methods, including probabilistic methods. It is based on proven training materials, models, and tools developed by the author to make risk management plans accessible and easily implemented.
- Written by an experienced risk management professional
- Reveals essential risk management methods for project teams and decision makers
- Packed with training materials, models, and tools for project management professionals
Risk Management has been identified as one of the nine content areas for Project Management Professional (PMP®) certification. Yet, it remains an area that can get bogged down in the real world of project management. Practical and clearly written, Project Risk Management: Essential Methods for Project Teams and Decision Makers equips project managers and decision makers with a practical understanding of the basics of risk management as they apply to project management.
(PMP and Project Management Professional are registered marks of the Project Management Institute, Inc.)
- Sales Rank: #148836 in Books
- Published on: 2013-09-10
- Original language: English
- Number of items: 1
- Dimensions: 9.27" h x 1.25" w x 6.40" l, 1.30 pounds
- Binding: Hardcover
- 400 pages
From the Inside Flap
Risk management has been identified as one of the nine content areas for Project Management Professional (PMP) certification. Yet, project risk management remains an area that is often bogged down by inconsistent methods and a sense of general confusion as to what methods should be applied, where, and how. Written to provide a practical understanding of the basics of risk management, Project Risk Management presents an easy-to-implement, practical, and proven risk management methodology for today's project managers and decision makers.
Drawing on author Yuri Raydugin's risk management experience in almost two dozen major and mega capital projects, Project Risk Management shows you how to employ a consistent application of risk methods, including probabilistic methods. Dr. Raydugin illustrates existing training materials, models, and tools he has developed over the years to make risk management accessible and easy to execute.
Written at an advanced level that doesn't get bogged down by mathematics, Project Risk Management balances technical information with accessible language to simplify the assessment of the uncertainties in a project. Conveniently laid out in four accessible parts, Project Risk Management examines:
- The Nature of Project Uncertainties
- The Three Dimensions of Risk Management
- The Risk Management Organizational Framework and Process
- Tools to Support the Organizational Framework and Process
- Risk Workshops, Reviews, and Reporting
- The Structure of a Project Risk Management Plan
- Project Execution through Risk Addressing (PETRA Technique)
- The Role of "Broiler Black Swans" and Unknown Unknowns
- The Role of Psychological and Organizational Bias
- The Selection of Engineering Design Options Using Risk Management
- Addressing Project Uncertainties through Procurement
- Cost Escalation Modeling
- Integrated Cost and Schedule Risk Analysis (CSRA)
- Building and Running Monte Carlo Models
- Criteria for Cost and Schedule Project Reserves
- Key Points of a Probabilistic CSRA Report
- Project Cost Uncertainty and AACE Classes
- Cost Reserve Drawdown
- Risk-Based Informed Decision Making
Project Risk Management empowers you with the knowledge and skills to conduct effective risk management processes while avoiding the many pitfalls inherent in project management.
From the Back Cover
From the Foreword:
"A practical 'recipe book' for the non-expert who is a decision maker or a project team member to understand how to conduct a robust risk management process while avoiding the many pitfalls."
—Dr. Bill Gunter, Honorary Nobel Laureate, Alberta Innovates-Technology Futures
Praise for Project Risk Management
"The paramount importance of risk management for project success is rarely challenged. The preeminent significance of selection and implementation of the most efficient and practical risk methods is often overlooked though. Yuri shares his real-life mega-project risk experience to bridge this alarming gap. This is a fresh look at existing risk standards, practices, and tools from the angle of adequacy and practicality. Project practitioners who are interested in avoiding outdated, fancy, or impractical risk methods, as well as risk 'ritual dances' and other common pitfalls, should read this book."
—Alfy Hanna, Senior VP, Mega-projects, SNC-Lavalin
"Risk is that four-letter word that haunts those of us who strive year over year to create value from capital infrastructure investments. It is difficult to understand, tough to quantify in simple terms, and even more difficult to boil down into financial dollars, which is what we need to make decisions. But the risks are there, and we can or should do something about them. In his book, Yuri lays out fundamentals, practices, and tools that can take risk from a 'gut-feel reactive approach' to one where it is quantified, actionable, and result-focused. A recommended read for any decision maker or project manager responsible for capital projects where, at any time, labor, technology, people, financial markets, regulations, politics . . . will affect long-term value creation. Choose to be prepared."
—Mark Mackay, PEng, VP, Engineering & Construction, TransAlta
"Very early in the book, Yuri focuses on an essential enabler of any successful project risk management program—the Project Risk Management Plan. Quite often, this tactical road map is omitted by a project team, as focus is distracted by populating risk registers and implementing complex modeling programs. Yuri rightly provides core insight on both the purpose and content to enable any new or existing project team to develop a solid risk management plan that will serve to guide risk management activities throughout the project's life cycle."
—Jason R. Kean, Principal, Project Solutions Inc.
"Project Risk Management provides an excellent and highly accessible summary of the key aspects of risk management—this book should be of interest to those both familiar with and new to the field of project risk management."
—Dr. Titus Fossgard-Moser, non-technical risk specialist
About the Author
Dr. YURI RAYDUGIN is an experienced risk management professional who has developed and implemented successful risk systems for several major energy companies, including Royal Dutch Shell, SNC-Lavalin, and TransCanada Pipelines. He provides risk management coaching and training as well as risk assessment services and has published white papers and articles for a number of journals, including the International Journal of Risk and Contingency Management.
Most helpful customer reviews
2 of 2 people found the following review helpful.
Excellent Book
By Fabiano
Excellent Book. It could be useful for a general overview of many differen techniques for the risk analysis.
Recommended for SHE Managers.
0 of 0 people found the following review helpful.
Practical view
By Marco Amaral
Very useful book to reinforce one topic that has been jeopardizing many capital projects: HSE issues (the author names them as External Packages of Procurement regarding Procurement and Contract Risk Assessment.
I just didn't give 5 stars because it lacks some quantitative examples regarding cost-schedule analysis covering HSE.
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