Description
Book SynopsisSince I wrote the Foreword for the second edition of this book, risk management processes have become much more widely used, but controversy about what should be done and how best to do it has grown. Managing risk is a risky business. Chapman and Ward provide an in-depth explanation of why it is important to understand and manage underlying uncertainty in all its forms, in order to realise opportunities more fully and enhance corporate performance. They show what best practice should look like. The implications go well beyond the conventional wisdom of project risk management, providing an enlightening new perspective.
Professor Tony M. Ridley Imperial College London, Past President, Institution of Civil Engineers
Chris Chapman and Stephen Ward continue to educate the profession with this masterful exposition of the differences between, and the potentials for combinations of, risk, uncertainty and opportunity. Particularly welcome is the way they integrate this t
Table of Contents
Foreword to this edition by Mike Nichols ix
Foreword to the second edition with an update by Tony Ridley xi
Foreword to the fi rst edition by Peter Wakeling xiii
Preface and overview by the authors xv
Acknowledgements xxv
PART I Setting the scene 1
1 Uncertainty in and around projects 3
2 Uncertainty, risk and opportunity 43
3 Key motives for uncertainty management 73
4 An overview of generic process frameworks 101
PART II The generic process in one key lifecycle stage 131
5 Define the project 133
6 Focus the process 153
7 Identify all the relevant sources of uncertainty, response options and conditions 171
8 Structure all uncertainty 215
9 Clarify ownership 235
10 Quantify some uncertainty 251
11 Evaluate all the relevant implications 289
PART III The generic process in all lifecycle stages 325
12 Fully integrating the strategy shaping stages 327
13 Fully integrating the strategy implementation stages 365
PART IV Key corporate implications 389
14 Developing PUMP capability as a project 391
15 Contracts and governance as frameworks for enlightened relationship management 411
16 A corporate capability perspective 435
References 463
Glossary 473
Index 479
