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Managing the Unknown: A New Approach to Managing High Uncertainty and Risk in Projects Hardcover – 31 Mar 2006


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" Managing the Unknown, is an important book, and it was a revelation for me.  It takes a fresh look at project risk management, which is a vital skill in developing a new product, but goes beyond conventional risk management in critical ways." ( Journal of Product Innovation Management, October 2006)

From the Back Cover

Managing the Unknown offers a new way of looking at the problem of managing projects in novel and unknown environments. From Europe′s leading business school, this book shows how to manage two fundamental approaches that, in combination, offer the possibility of coping with unforeseen influences that inevitably arise in novel projects:
  • Trial–and–Error Learning allows for redefining the plan and the project as the project unfolds
  • Selectionism pursues multiple, independent trials in order to pick the best one at the end

Managing the Unknown offers expert guidelines to the specific project mindsets, infrastructures, and management methods required to use these project management approaches and achieve success in spite of unforeseen obstacles. This book equips readers with:

  • Causal explanations of why unforeseeable factors in novel projects make traditional project planning and project risk management insufficient
  • Directly applicable management tools that help managers to guide novel and high–uncertainty projects
  • Real–world case studies of both successful and unsuccessful approaches to managing high uncertainty in novel projects

Inside This Book (Learn More)
First Sentence
In 2002, the first-tier diversified resource company, Metal Resources Co., headquartered in Austin, Texas, announced a cash offer for the Winnipeg-based metals company, RBD, Inc. Read the first page
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Amazon.com: 1 review
A great reference for a subject that is not well understood 18 Jun. 2013
By Matthew S Walker - Published on Amazon.com
Format: Hardcover Verified Purchase
There are not many good references out there covering the management of Uncertainty and Risk.
This is by far the best one I've found. Sure there are a few reasonable papers in journals, but this book provides a full and comprehensive coverage of the subject. If you are a technical project manager developing high risk technology this is an essential read.

regards,
Matthew
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