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
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.