Project Manager's Spotlight on Risk Management

Foreword ix

Acknowledgments x

Introduction xiii

Chapter 1: What Is Risk Management? 1

Defining Risk 1

Purpose of Risk Management 6

A Practical Risk Management Approach 12

Communication Is the Key 20

Case Study 26

Chapter 2: Identifying and Documenting Risks 29

Identifying Risks 29

Common Risks 34

Where to Look 40

How to Look for Risk 45

Documenting Project Risk 53

Case Study 58

Chapter 3: Why Projects Fail—More Risks and How You Can Prevent Them 61

The PMINO Syndrome 61

Absentee Sponsor 70

Disengaged Teams 80

Case Study 91

Chapter 4: Preventing Scope and Schedule Risks 95

Scope Risk 95

Schedule Risks 108

Change Management 118

Case Study 120

Chapter 5: Analyzing and Prioritizing Risks 123

Qualitative Risk Analysis 123

Quantitative Risk Analysis 136

The Analysis Method of Choice 142

Listing and Ranking Project Risk 142

Case Study 146

Chapter 6: Defining Risk Response Plans 149

Risk Response Planning 149

Risk Response Techniques 153

Developing Risk Response Plans 160

Planning for the Unknown 164

Case Study 169

Chapter 7: Implementing and Monitoring Risk Response Plans 171

Monitoring and Control 171

Implementing Response Plans 177

Risk Audits 185

Case Study 189

Appendix A: Nine Knowledge Areas Refresher 191

Project Management Process Groups 191

Project Management Knowledge Areas 197

Appendix B: Risk Management Templates 203

Glossary 211

Index 217