Practical Project Risk Management: The ATOM Methodology - Softcover

Hillson, David; Simon, Peter

Softcover

ISBN 10: 1567263666 ISBN 13: 9781567263664

Publisher: Management Concepts, Inc, 2012

Synopsis

This second edition of the book reflects the authors’ work to continually improve upon the model and to apply the methodology to a broader range of issues. The book includes: • An entirely new chapter on managing risk in programs, which is an important dimension in today’s world of ever more complex initiatives • Updated material and methodology more closely aligned with relevant international standards • Emphasis on minimizing the threats and maximizing the opportunities to optimize achievement of your project goals Based on sound principles and best practices, this book guides any member of the project management team in conducting risk management in a real-world environment.

About this title

About the Author

Dr. David Hillson, PMI Fellow, FRSA, HonFAPM, FIRM, FCMI, widely known as The Risk Doctor, is an international risk management consultant and the Director of Risk Doctor & Partners. He is a PMI Fellow and the recipient of the 2011 PMI Eric Jenett Project Management Excellence Award.
Peter Simon, BSc, PMP, FAPM, is a Director of Lucidus Consulting Ltd. He has more than 30 years of experience as a project and program management consultant and practitioner across all industries and business sectors. He is a Visiting Fellow at Cranfield School of Management and an Adjunct Professor at ESCP Business School – London.

Excerpt. © Reprinted by permission. All rights reserved.

Practical Project Risk Management

The ATOM Methodology

By David Hillson, Peter Simon

Management Concepts Press

Copyright © 2012 Management Concepts, Inc.
All rights reserved.

ISBN: 978-1-56726-366-4

Contents

Foreword to the Second Edition, 
Foreword to the First Edition, 
Authors' Preface, 
Acknowledgments, 
PART I: The Problem, 
Chapter 1: The Challenge of Managing Risk, 
Chapter 2: Making It Work, 
Chapter 3: Active Threat and Opportunity Management — The ATOM Risk Process, 
PART II: Applying ATOM to a Typical Project, 
Chapter 4: Start at the Beginning (Initiation), 
Chapter 5: Exposing the Challenge (Identification), 
Chapter 6: Understand the Exposure (Assessment), 
Chapter 7: Options and Actions (Response Planning), 
Chapter 8: Spread the Word (Reporting), 
Chapter 9: Just Do It (Implementation), 
Chapter 10: Keep It Alive (Major Reviews), 
Chapter 11: Ongoing Updates (Minor Reviews), 
Chapter 12: Learn from Experience (Post-Project Review), 
PART III: Variations on a Theme, 
Chapter 13: ATOM for Small Projects, 
Chapter 14: ATOM for Large Projects, 
Chapter 15: Simulating Possible Futures (Quantitative Analysis), 
Chapter 16: Managing Risk in Programs, 
Epilogue: Next Steps, 
Appendix A: Templates and Examples, 
Appendix B: Further Templates and Examples, 
Glossary of Terms and Abbreviations, 
References and Further Reading, 
Index, 

CHAPTER 1

The Challenge of Managing Risk

Few would disagree that life is risky. Indeed, for many people it is precisely the element of risk that makes life interesting. However, unmanaged risk is dangerous because it can lead to unforeseen outcomes. This fact has led to the recognition that risk management is essential, whether in business, projects, or everyday life. But somehow risks just keep happening. Risk management apparently does not work, at least not in the way it should. This book addresses this problem by providing a simple method for effective risk management. The target is management of risks on projects, although many of the techniques outlined here are equally applicable to managing other forms of risk, including business risk, strategic risk, and even personal risk.

The book is divided into three parts, starting with defining the problem in an effort to understand the underlying reasons for the apparent failure of project risk management to deliver the promised or expected benefits. The main body of the book describes a generic risk management process applicable to most projects, focusing on simple guidelines to make risk management work in practice. Finally, the book considers implementation issues, applying the risk management process to different types of projects, and addressing the steps necessary to use risk management effectively.

But before considering the details of the risk management process, there are some essential ideas that must be understood and clarified. For example, what exactly is meant by the word risk?

Risk — The Definition Debate

Some may be surprised that there is any question to be answered here. After all, the word risk can be found in any English dictionary, and surely everyone knows what it means. But in recent years risk practitioners and professionals have been engaged in an active and controversial debate about the precise scope of the word.

Everyone agrees that risk arises from uncertainty, and that risk is about the impact that uncertain events or circumstances could have on the achievement o

Edition details

• Publisher: Management Concepts, Inc
• Publication date: 2012
• Language: English
• ISBN 10: 1567263666
• ISBN 13: 9781567263664
• Binding: Paperback
• Edition number: 2
• Number of pages: 280