Strategic Project Risk Appraisal and Management: 1st Edition (e-Book) book cover

Strategic Project Risk Appraisal and Management

1st Edition

By Elaine Harris


126 pages

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pub: 2009-09-28
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Success in business depends on two broad management skills: 'doing the right thing' (choosing the right projects) and 'doing things right' (good project management). This book examines the challenges that managers face in assessing the likely risks and benefits that need to be taken into account when choosing projects. It then explores the strategic level risks that will need to be dealt with in managing those projects and suggests risk management strategies. In so doing, it makes a rare but important link between strategic level appraisal of project opportunities and project risk management. Many projects have similar characteristics that are common to a number of projects experienced by the same or other organizations. Elaine Harris shows how the use of a project typology can guide project risk management by identifying common risks shared by projects of each type. Her cutting edge research will help advanced project practitioners and researchers in projects and risk management to develop a risk management strategy that is better suited to the context of their projects and one that is flexible enough to develop and adapt once the project decision has been taken and the real-world of project management and delivery begins.


'…Elaine Harris's volume is timely. In a world of books by "instant experts" it's pleasing to read something by someone who clearly knows their onions, and has a passion for the subject…In summary, this is a thorough and engaging book.' - Chris Morgan, Head of Business Assurance for Select Plant Hire, Quality World 'As soon as I met Elaine I realised that we both shared a passion to better understand the inherent risk in any project, be that capital investment, expansion capital or expansion of assets. What is seldom analysed are the components of knowledge necessary to make a good judgement, the impact of our own predjudices in relation to projects or for that matter the cultural elements within an organisation which impact upon the decision making process. Elaine created a system to break this down and give reasons and logic to both the process and the human interaction necessary to improve the chances of success. Adopting her recommendations will improve teamwork and outcomes for your company.' - Edward Roderick Hon LLD, Former CEO Christian Salvesen Plc

Table of Contents

Contents: Introduction; Part 1 Background to Project Risk Appraisal: Context for project risk appraisal; Project risk appraisal techniques. Part 2 Strategic Project Risk Case Illustrations: Business development projects; Systems development projects; New site projects; New product development projects; Business acquisitions; Compliance projects; Event management. Part 3 Project Risk Management ; Post-project reviews. References. Index.

About the Author

Elaine Harris is Professor and Head of Department of Accounting and Finance and Head of Leicester Business School's Graduate Centre at De Montfort University, where she teaches Project Management. Elaine has been Chair of the British Accounting Association (BAA) Committee of Departments of Accounting and Finance (CDAF, formerly known as CHA), and secretary of the Management Control Associaion (MCA). She is a member of ACCA's Research Committee, CIMA's Lifelong Learning Policy Committee, Managing Editor of the Journal of Applied Accounting Research (JAAR) and a reviewer for the ESRC and Leverhulme.

About the Series

Advances in Project Management

Project management has become a key competence for most organisations in the public and private sectors. Driven by recent business trends such as fewer management layers, greater flexibility, increasing geographical distribution and more project-based work, project management has grown beyond its roots in the construction, engineering and aerospace industries to transform the service, financial, computer, and general management sectors. In fact, a Fortune article rated project management as the number one career choice at the beginning of the 21st century. Yet many organizations have struggled in applying the traditional models of project management to their new projects in the global environment. Project management offers a framework to help organisations to transform their mainstream operations and service performance. It is viewed as a way of organising for the future. Moreover, in an increasingly busy, stressful, and uncertain world it has become necessary to manage several projects successfully at the same time. According to some estimates the world annually spends well over $10 trillion (US) on projects. In the UK alone, more than £250 billion is spent on projects every year. Up to half of these projects fail! A major ingredient in the build-up leading to failure is often cited as the lack of adequate project management knowledge and experience. Some organizations have responded to this situation by trying to improve the understanding and capability of their managers and employees who are introduced to projects, as well as their experienced project managers in an attempt to enhance their competence and capability in this area. Advances in Project Management provides short, state of play, guides to the main aspects of the new emerging applications including: maturity models, agile projects, extreme projects, six sigma and projects, human factors and leadership in projects, project governance, value management, virtual teams, project benefits.

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