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

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

by Robert James Chapman

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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.

Product Details

ISBN-13: 9781472411976
Publisher: Ashgate Publishing Ltd
Publication date: 01/31/2014
Sold by: Barnes & Noble
Format: NOOK Book
File size: 6 MB

About the Author

Robert Chapman is currently the Head of Risk Management on the Klang Valley MRT project in Malaysia. He is a qualified architect and he holds both a PhD in Risk Management and, an MSc in Construction Management. He was elected, and is a Fellow of the UK IRM, APM and ICM for his contribution to the field of risk management. Robert has worked in the construction industry for over 35 years, initially as an Architect, subsequently as a Project Manager and finally as a Risk Specialist - which has been his occupation for the last 12 years. He has worked in Europe, The Middle East and Asia. He is author of Simple Tools and Techniques for Enterprise Risk Management, Second Edition, published by John Wiley and Sons Limited and Retaining Design Team Members: A Risk Management Approach, published by RIBA Enterprises Limited.

Table of Contents


Endorsements for the first edition,

Endorsements for the second edition,

List of Figures,

List of Tables,

List of Mini Case Studies,

About the author,


Preface to the second edition,



How to read this book,




Section 3 ENVIRONMENT: The uncertainty characteristics of a project are the product of their origin and particularly their context,

Section 4 EXTERNAL PROJECT STAKEHOLDERS: Project success requires comprehension of the potential impact of external stakeholders on project uncertainty, Contractor participation in risk management is driven by contract obligations,

Section 5 ORGANISATION and CULTURE: Risk management aspirations need to be rooted in reality, The risk profile of a project will be directly influenced by the procurement process,

Section 6 LEADERSHIP and GOVERNANCE: Awareness of the need to manage risk, Mandate for the implementation of risk management, Creation and communication of accountabilities and responsibilities, Internal control and risk assurance processes, Effective decision making is dependent on risk management, Senior management commitment to risk management needs to be visible,

Section 7 INTERNAL STAKEHOLDERS: Risk management must include an assessment of internal stakeholders, Involve internal stakeholders in evaluation of the risks to the business case, Inculcating risk is improved by convincing the sceptics,

Section 8 RISK RESOURCES: Risk team selection will directly influence risk management effectiveness, The budget will dictate the level of risk management support,

Section 9 SYSTEMS: A risk management framework must establish a firm foundation, Commitment commences with a risk policy, Project outcomes are enriched by implementing lessons learned., Risk analysis needs to recognise the existence of optimism bias., The workshop ‘circus’ is avoided by recognising behaviour types., Project success and particularly risk management is dependent on proactive behaviour, Risk descriptions are improved by adopting a metalanguage, Risk database integration is improved when scheduled, Risk model results are improved by sense checking, Risk management is enhanced through integration, Assessing the risk profile of a project must take account of its degree of complexity., Risk management must include examination of opportunities as well as threats,

APPENDIX A: EFQM Excellence Model,

APPENDIX B: Systems thinking,

APPENDIX C: Causes of project failure,

APPENDIX D: Observations about the Standard,

APPENDIX E: Drivers for project success,

APPENDIX F: Mitchel, Bradley and Wood’s stakeholder typology,

APPENDIX G: The power – predictability matrix,

APPENDIX H: Maturity Model Descriptions,

APPENDIX I: Recording Lessons Learned,

APPENDIX J: Procurement Process,

APPENDIX K: Cybersecurity CMM,


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