Risk Management, 5th Edition

PART IRisk Processes and Practices

Why Risk Management?

The first part of Risk Management: Concepts and Guidance reviews the basic processes and practices associated with risk management in the project environment. It does so in depth, assessing the “rules of the road” in planning for, identifying, assessing, developing responses to, and controlling risk. It is a conceptual overview of how risk should be addressed.

In institutionalizing risk management in an organization, there is inevitably a dread of “analysis paralysis,” the fear that so much time will be spent examining concerns and potential problems that none of them is ever resolved. There is also anxiety with regard to administrative overburden. Project managers are frequently among ...