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Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project [Hardcover]

Tom Kendrick
5.0 out of 5 stars  See all reviews (3 customer reviews)
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Book Description

1 Mar 2009
It’s no wonder that project managers spend so much time focusing their attention on risk identification. Important projects tend to be time constrained, pose huge technical challenges, and suffer from a lack of adequate resources. Identifying and Managing Project Risk, now updated and consistent with the very latest Project Management Body of Knowledge (PMBOK)® Guide, takes readers through every phase of a project, showing them how to consider the possible risks involved at every point in the process.

Drawing on real-world situations and hundreds of examples, the book outlines proven methods, demonstrating key ideas for project risk planning and showing how to use high-level risk assessment tools. Analyzing aspects such as available resources, project scope, and scheduling, this new edition also explores the growing area of Enterprise Risk Management. Comprehensive and completely up-to-date, this book helps readers determine risk factors thoroughly and decisively…before a project gets derailed.

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Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project + Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management + Risk Management: Fast Track to Success
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Product details

  • Hardcover: 304 pages
  • Publisher: Amacom; 2 edition (1 Mar 2009)
  • Language: English
  • ISBN-10: 0814413404
  • ISBN-13: 978-0814413401
  • Product Dimensions: 23.4 x 16.2 x 3.3 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Bestsellers Rank: 321,651 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Product Description

From the Back Cover

Fully updated and revised to reflect the latest Guide to the Project Management Body of Knowledge (PMBOK® Guide), this essential resource provides clear-cut methods to implement at any organization and for any size or type of project. Identifying and Managing Project Risk takes you step-by-step through every phase of a project, providing real life examples and tips to illustrate key principles in project risk analysis.

Analyzing aspects such as available resources, project scope, and scheduling, the book shows you how to control and manage every risk. Featuring all new material on topics including the growing area of Enterprise Risk Management and more, Identifying and Managing Project Risk gives you everything you need to manage risk, helping to make the so-called “impossible project” a thing of the past.


“Solid research . . . nailed key concepts regarding the identification and management of project risk . . . concise and entertaining. Kendrick provides the reader with the tools and techniques necessary for successful project management.” — Charles W. Bosler Jr., CPCM, Founder and Chairman, PMI, Risk Management Specific Interest Group; President, Risk Services & Technology (RST) of Amherst, New Hampshire

“Tom Kendrick’s second edition of Identifying and Managing Project Risk is an absolute must for every serious project manager and student of risk management. Far more than just a review of the theory, Kendrick provides practical information and suggestions on how to apply risk management in the real world . . . your world . . . and be successful.” — Craig D. Peterson, PMP, President, PMI Risk Management Specific Interest Group; Lead General Systems Engineer, The MITRE Corporation

“This book is an excellent treatment of both project and risk management. Filled with practical insights and examples, it sets a new standard for useful project management/risk management books.” — Payson Hall, Manager, Catalysis Group, Inc.

About the Author

Tom Kendrick is an internal project management consultant for Visa Inc., and the author of Results Without Authority (978-08144-7343-6). He has more than 30 years of project management experience, twelve of which were spent as a part of the Hewlett-Packard Project Management Initiative.

Inside This Book (Learn More)
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Front Cover | Copyright | Table of Contents | Excerpt | Index
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Customer Reviews

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Most Helpful Customer Reviews
1 of 1 people found the following review helpful
5.0 out of 5 stars Like this! 18 Jun 2011
By mdoher
Format:Kindle Edition
I must admit, I like this book and enjoyed dipping in and out of it to read different sections.

Project management books and especially ones relating to risk management are not the most exciting of reads...but I would recommend this book.
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5.0 out of 5 stars Brilliant 16 Feb 2014
Format:Hardcover|Verified Purchase
Loved it to bits, it was exactly what the doctor ordered for my assignment and it enabled submit a good assignment.
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5.0 out of 5 stars Informative 28 Jun 2011
Format:Kindle Edition|Verified Purchase
I am an internal auditor/consultant and have found this book to be a great help when thinking around project risk and how best to audit a project. It offers great insight around the project lifecycle and how best to ensure a smooth and successful project.
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Most Helpful Customer Reviews on (beta) 4.3 out of 5 stars  34 reviews
52 of 55 people found the following review helpful
5.0 out of 5 stars Required reading for all project managers and sponsors 11 July 2003
By Patrick Neal - Published on
This volume may be the best one I have ever read on the subject of risk in the project arena. Kendrick has captured the best of current practical thinking on project risk and how to identify and manage it. And the author has carefully linked theory and practice to the Project Management Institute's "Project Mangement Body of Knowledge." In addition this book is exceedingly well written and very readable (a rarity in this genre).
Kendrick approaches risk identification from the perspective of the project manager in the areas of scope (project deliverables and product), resources (people, materials, and money), and schedule (time). He addresses each area in a separate chapter with practical advice on how to identify and document potential risks. An aspect of these three chapters I particularly appreciate is the depth of information that allows the reader to address each area of risk at different levels. Kendrick does this by providing an array of analytical tools. For example in Chapter 4, "Identifying Project Schedule Risks," the reader could use the list of common schedule risks and probably account for 80% of the schedule risks for their project, or move to a deeper analysis of risks associated with delays, dependencies, and errors in estimation. In the area of estimation the reader is presented with an array of estimating techniques that can be used as appropriate to detect potential risks in estimation.
Chapter seven on "Quantifying and Analyzing Activity Risk" appears just in time. After reading the first six chapters the reader may throw up their hands and declare "I can't manage all of this!" As an experienced project manager, Kendrick gives us tools to help select the risks to manage. All potential risks on a project are not manageable or worth the time and effort to manage. This chapter gives sage advice on how to select the vital few.
A key element in Kendrick's approach is distinguishing what he calls "activity risk" from "project risk." It is easy for the project manager to focus on risks associated with various activities and forget the larger picture. In fact there may be times when the risks associated with each activity seem minor but when the project is viewed as a whole the project is very risky. Kendrick provides tools for quantifying and analyzing risk at the project level as well as a chapter on managing project level risk.
I end this review with three overall comments. First, pages 17-24 should be required reading for all senior managers and anyone who sponsors a project and there should be a test at the end. The biggest risk for too many projects is unknowing, unthinking, or uncaring managers who are driven by near term profits and stock prices. Second, readers should not be put off by Kendrick's inclusion of statistical and mathematical information. Such information comprises less than 5% of this book and it would be a shame to miss the other 95% due to a fear and loathing of numbers. Finally, if you can't find any other reason to read this gem, read it for the intriguing history of the building of the Panama Canal. If Kendrick ever decides to stop managing projects, he has a bright future as a writer of interesting history.
35 of 39 people found the following review helpful
3.0 out of 5 stars In search of good books on managing project risks 3 Jun 2008
By A customer - Published on
This book provides an overview on how to manage certain types of project risks (some risks are not covered, e.g. financial) and, implicitly, only IT projects and not other types of projects (e.g. construction). Like many books on this topic, the treatment is uneven. The strengths are its logical structure and clear exposition. I knocked off 2 stars because a) there is a disconnect between the text (mostly IT-related) and case study (building of Panama Canal), and b) neglect of contractual issues, the key instrument of risk management. This is the book for you to read if you have no idea about project risk management.
19 of 22 people found the following review helpful
5.0 out of 5 stars Practical Risk Management 10 April 2003
By Al DeLucia - Published on
Reviewed by Al DeLucia
Project Management Division
GSA, Philadelphia
Anyone who - like me -- has struggled to relate the abstract discussion of Risk Management in the PMBOK to actual project management practice will welcome this down-to-earth presentation. This book shows how to incorporate risk management into the planning of your project along the way - the entire way -- of the project development sequence.
Mr. Kendrick had many years of practical project management experience with Hewlett- Packard and headed their in-house project management training and consulting program. Over a period of 10 years, he trained hundreds of project managers at HP, in other organizations world-wide, and at the University of California at Berkeley and systematically collected information about the most significant risks they had encountered in their projects. The result is a database called PERIL (Project Experience Risk Information Library), that contains 222 projects sorted into risk categories based on type and impact. In this book, these results are integrated with the PMBOK processes of project development in a way that shows what project management is really all about.
Anecdotes from the construction of the Panama Canal are interestingly presented at the ends of the chapters. These describe how the concepts of each chapter were applied - or not - first by the French in their failed attempt to build the canal, and then by the Americans in their successful endeavor under the sponsorship of Teddy Roosevelt.
11 of 13 people found the following review helpful
5.0 out of 5 stars A "Must Have" for Your Library 10 May 2006
By Sue White - Published on
Format:Hardcover|Verified Purchase
As the other reviewers have indicated, this book is an excellent addition to your library.

It is well-written, well-organized, and supported by real-life data from his PERIL database (compiled from hundreds of projects, world-wide, over the past decade). The book makes good use of bullets and diagrams to emphasize and/or explain important points.

I particularly liked the way he correlated his material with the Project Management Institute (PMI)'s PMBOK.

Further, I appreciated his discussion of some of the most difficult issues that arise when implementing a formalized project management methodology (including some that are seldom addressed in books), e.g.:

o Tips for persuading senior level management of the necessity of a formalized project management methodology

o Recognizing the power shift that occurs within a company when formalized project management/portfolio management processes are implemented and followed

o Metrics, derived from the PERIL database, relating to things such as the impact of the permanent (or temporary) loss of a project team member. (I'm always looking for metrics to support some business case, or other request to senior management, for additional ... time ... resources ... budget, etc.)

o The Appendix, which listed some of the Schedule, Resource and Scope risks from the PERIL database

o The sample Risk Questionnaire, and the many other tools, tip and procedures included in the book

Overall, I give it five stars and expect that it will become "dog-eared" very quickly, from heavy use, as I refer to it often in my work.
3 of 3 people found the following review helpful
5.0 out of 5 stars Learning Material for PMPs 28 Aug 2011
By deann1 - Published on
I use Tom's book as supplemental reading to the basic PMBOK for students in my PM Risk classes. I love the fact that it is illustrutive of the concepts introduced and discussed in the PMBOK. His book enhances the learning experience. They gain knowledge from his own experience as well as the additional knowledge from the case study used throughout the book. It is helpful for all to put concepts together with real-life events in order to make it all come full circle.
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