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Project Risk Management: Using Failure Mode Effect Analysis for Project Management [Kindle Edition]

Thomas Ghantt

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  • Length: 126 pages
  • Word Wise: Enabled
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Book Description

Effective project risk management is critical to project success. As more organizations turn to project management to meet aggressive business objectives, managing project risks has become more complex than ever. In a push to deliver projects faster, cheaper and better, project teams are pushed into new frontiers daily. Project managers need to make risk management an integral part of daily project management processes.

Many project managers start risk management off early in the project by creating traditional risk trackers. However, as the demands of the project grow daily, these trackers often find themselves collecting dust on a shelf. As the risk profile of a project changes, the project manager often reacts to new risks as they emerge and hopes for the best. Often this is occurs because the project manager is following a risk management method which does not provide an easy to follow and actionable process. Once the classic risk tracker is created at the onset of the project, using the cost of using it quickly exceeds the benefits it adds. 

This book was written to introduce project managers to a tool commonly used in process improvement projects and manufacturing, called Failure Model Effects Analysis (FMEA), which if applied correctly results in a highly actionable risk mangement process. 
Applying FMEA to your project provides an effective, fast and easy way to transform risk management from a data collection process to a proactive management tool to drive project success. FMEA can be applied to any project and the benefits far outweigh the costs of setting it up.

If you create project risk trackers that become difficult to maintain, impossible to use or simply sit around after the project kick off it could be a sign that the tracker you are using is not an effective management tool. The FMEA process applied to project management is your solution to creating an actionable, effective and useful risk management process for any project.

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Product details

  • Format: Kindle Edition
  • File Size: 738 KB
  • Print Length: 126 pages
  • Publisher: Plumbline Publishing Group; 1 edition (26 Nov. 2012)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • : Enabled
  • Amazon Bestsellers Rank: #595,536 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews on (beta) 4.7 out of 5 stars  7 reviews
1 of 1 people found the following review helpful
5.0 out of 5 stars Newbie 11 Aug. 2013
By A Runner - Published on
Format:Kindle Edition|Verified Purchase
As a newbie to the PM world this gave me great insight on what should be taken place in a project risk management planning
1 of 1 people found the following review helpful
4.0 out of 5 stars Basic but good 13 May 2013
By K. Cooper - Published on
Format:Kindle Edition|Verified Purchase
I enjoyed this booklet. It has all of the information you need without a lot of fluff to fill pages. NICE!
3 of 4 people found the following review helpful
5.0 out of 5 stars Useful Tool For Using FMEA Risk Management Process 5 Jan. 2013
By Brian - Published on
Format:Kindle Edition
If you need to manage risk and require an introduction to a standard method then this is the tool for your Kindle. This is a step by step introduction to FMEA processes. Spreadsheet examples are given and parameters defined for each field. The writing is clear and explanations are simple. A very good reference work.
2 of 3 people found the following review helpful
5.0 out of 5 stars A clear and concise introduction to FMEA processes 8 Jan. 2013
By Anna Elizabeth - Published on
Format:Kindle Edition|Verified Purchase
A brilliant, clear and concise introduction to the FMEA method for managing risk. The spreadsheet examples are invaluable. It details why FMEA is ideal to use for project risk management and then details in 10 steps the process required to set it up. The two references at the end are very useful. In todays ultra-aggressive business environment, this is an essential guide for project risk management. Highly recommended.
5.0 out of 5 stars Required reading 16 Mar. 2014
By Joseph R. Newberry Jr. - Published on
Format:Kindle Edition|Verified Purchase
Easy read. I am always looking for best practises to improve my toolset and FMEA definitely is a value add. I especially like the suggested approach of building the plan in a controlled fashion. I.e. keep the discussion focused and limit the view of the chart to what is relevant to the discussion.
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