The Rules of Project Risk Management – A Book Review
The Rules of Project Risk Management: Implementation Guidelines for Major Projects is an authoritative and thoughtful guide on successful project management. The book describes both the benefits of properly run project risk management and the sorts of ramifications that can occur when project risk management is ignored or mishandled. The text is augmented by mini case studies, and accompanied by specific proposed guidelines and rules from the author. The book principally consists of a practical manual on the steps needed to implement a strong project, yet it also reviews the underlying principles of the field of risk management.
This first edition book comes in both hardcover and Kindle editions. It contains 264 pages and was published on January 28, 2014 by Gower. The title of the book is printed across the top of the cover in bold black font, which is followed below by the subtitle “Implementation Guidelines for Major Projects”. ISBN-10: 1472411951; ISBN-13: 978-1472411952
The Rules of Project Risk Management is intended for capable risk practitioners who are engaged in risk training, and wish to broaden their approach and extend their skills. Others that will find it helpful include lecturers, undergraduate and graduate students, change agents, program managers, portfolio managers, project managers, and construction companies looking to develop their internal risk management team.
What Customers Say
Alex Dali, President of the Global Institute for Risk Management Standards describes the book as a combination of the foundations of project management as well as the latest trends in the field.
Steve Fowler from the Institute of Risk Management in the UK thoroughly recommend Chapman’s book, calling it invaluable. He appreciates how it draws from real examples to demonstrate how things can go wrong and the lessons that can be learned from high profile failures.
Content, Approach, Style
The Rules of Project Risk Management is divided into seven concise sections which each address an essential topic in the field of project risk management. The beginning of the book discusses aspects of the environment in which a project takes place, including cultural, political, regulatory, and financial aspects. Chapters three and six focus on techniques to influence and deal with both internal and external stakeholders. Chapters four and six explain methods to enhance and optimize the leadership and organization of a project risk management team. The latter sections of the book address ways to manage resources and handle documents, software, and practices.
Each of the sections incorporates a set of rules that are chosen by the author to promote an effective risk management project. These individual rules each spotlight an important area of project risk management in need of attention, complementing certain subject matters, and providing crucial instruction and information on how to run a successful project. Each section is broken up into smaller elements, allowing the book to be read in short amounts of time.
Why Buy the Book
Inadequate risk management is commonly cited as one of the top causes for the failure of projects. Furthermore, research has demonstrated that effective risk management is one of the most crucial factors in the outcome of a project. Most of the literature on this topic however is quite abstract, and focuses solely on the theory and principles of the subject of project risk management. This book provides what other books on the topic have not, offering a pragmatic and practical guide to project risk management, supplemented by engaging real world advice from an expert on the subject.
Books that Compliment
Project Risk Management: The Most important Methods and Tools for Successful Projects outlines the most valuables methods in project risk management, in an easily accessible way.
Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project is another popular book on this topic. It provides a wide range of examples of real world situations in project risk management, describing important ideas and aspects to consider such as managing available resources and scheduling.
Robert James Chapman is the Head of Risk Management of the Klang Valley Mass Rapid Transit project in Malaysia. He holds a PhD. in Risk Management from the University of Reading as well as an MSc. in construction management. Chapman has worked in the construction industry for over 35 years, first as an architect, and later fulfilling the roles of Project Manager and Risk Specialist, throughout the Europe, Asia, and the Middle East. Chapman is a fellow of the UK IRM, APM, and ICM, and has a written previous book titled Simple Tools and Techniques for Enterprise Risk Management.