Project Risk Management Guidelines : Managing Risk with ISO 31000 and IEC 62198

Risk runs through the fabric of any project. It is sointimately bound up in forecasting and decision making that itcannot be isolated or handled separately from other projectmanagement activities. Success can only be achieved if riskmanagement is integrated closely with project management. Over the past decade, developments in risk management methodsand standards have addressed the need to manage risk in a projectin an integrated manner. This is a more natural way ofworking than past practices have been. It has beneficialeffects on the practice of risk management and the way it isimplemented in projects. This new edition of Project Risk ManagementGuidelines has been fully updated to include the newinternational standards that embody this principle, ISO 31000 Risk management and IEC 62198 Managing risk inprojects . The book explains the standards and how theycan be applied. It provides a clear introduction to basicproject risk management, introduces the reader to specialized areasof projects and procurement, and shows how quantitative riskanalysis methods can be used in large projects. Chapter by chapter, the authors present simple, practical stepsand illustrate them with examples drawn from their extensiveexperience from around the world, in many different industrysectors and cultures and at all stages of projects from conceptionthrough development and into execution. Qualitative andquantitative approaches are covered. Traditional structures andprocesses are discussed as well as developments in the way projectsare conducted, such as outsourcing arrangements and risk-sharingstructures like public?private partnerships. Improved outcomes can be achieved when sound risk management isused to capture opportunities and reduce threats. Its unique focusand wealth of checklists, tables and other resources make this bookan essential and enduring tool for anyone involved with projectwork.