The Rules of Project Risk Management : Implementation Guidelines for Major Projects

The discipline of project risk management is continually evolving and has matured over time. However within the literature there has been a disproportionate focus on process, techniques and statistical analysis at the expense of understanding how effective risk management is delivered. The Rules of Project Risk Management provides readers with practical insights in the form of guidelines or ’rules’ to enhance effective delivery of a discipline which has been proven to directly contribute to securing a project’s objectives. A series of mini case studies are included to improve comprehension of the guidelines. The structure of the book has been designed to enable project and risk personnel and students alike to quickly appreciate and assimilate those aspects of risk management that warrant close scrutiny and comprehension. Robert Chapman’s advice is given with clarity and is based on very broad experience.

The evidence continues to grow that the effective management of risk is the very kernel of successful project management. Its absence frequently leaves project sponsors lamenting missed objectives and shareholders coming to terms with an organisation’s poor bottom line performance. Dr Robert Chapman''s The Rules of Project Risk Management stands out from other risk management texts because it provides very practical guidance, supported by numerous mini case studies, many of which have attracted considerable publicity. The book brings to life both the benefits of project risk management when effectively applied and the ramifications when it is misunderstood or receives scant attention. The structure of the book is based on International Standard ISO 31000 seen through the lens of general systems theory - where projects are undertaken by organisations which have an external context and internal sub-systems. A project system is seen to be composed of seven key subject areas. Practical short ’rules’ or implementation guidelines, written in an engaging style, are offered to support each of these subject areas and aid quick assimilation of key risk management messages. Each rule focuses on a specific aspect of effective risk management which warrants attention in its own right. Taken together the rules will provide those implementing projects with the building blocks to secure a project’s objectives. They have been drawn from a wealth of experience gained from applying risk management practices across multiple industries from Europe to Africa, the Middle East and Asia.