9780470022818

This book describes philosophies, principles, practices and techniques for managing risk in projects and procurements, with a particular focus on complex or large-scale activities. The authors cover the basics of risk management in the context of project management, and outline a step-by-step approach. They then extend this approach into specialised areas of procurement (including tender evaluation, outsourcing and Public-Private Partnerships), introducing technical risk assessment tools and processes for environmental risk management. Finally they consider quantitative methods and the way they can be used in large projects. International case studies are included throughout.

Dale Cooper has over twenty-five years of international experience with risk management for large and complex projects. He is a Fellow of the Australian Institute of Company Directors, an Affiliate of the Securities Institute of Australia, a member of the Risk Engineering Society and the Society for Risk Analysis, and an accredited provider of risk management consulting services to government agencies in Australia and New Zealand. Since late 1991, Dale Cooper has run Broadleaf Capital International, a consulting company that specialises in high-level strategic, organisational and project risk analysis, for both public and private sector clients. His risk consulting activities have included assignments in North America, Europe, Australasia, Asia and the Middle East. He is a member of the Standards Australia Technical Committee that developed the risk management standard AS/NZS 4360 and associated handbooks. Stephen Grey is an experienced risk management practitioner specialising in project, organisational and strategic risk applications. He has worked with many private and public sector organisations in the UK, Europe, Australia and New Zealand for over fifteen years. Stephen is actively involved in the development of risk management practices around the world. He is a member of the Risk Engineering Society within the Institution of Engineers (Australia), a member of the Special Interest Group on Project Risk Management of the UK Association for Project Management and Director of Region IV, Asia and Pacific, of the Risk Special Interest Group of the US based Project Management Institute. He is an Associate Director of Broadleaf Capital International. Geoff Raymond is a highly experienced risk management consultant, facilitator and trainer. He has significant recent experience in the conduct of qualitative and quantitative risk assessments, hazard analyses and value management studies in a variety of contexts. Prior to joining Broadleaf Capital International as an Associate Director in 1996, he established the Risk Engineering Services business unit at BHP Engineering. His main activities are in strategic planning, corporate and project risk analysis and risk management training, for both public and private sector clients. Phil Walker had a long career in the Australian Department of Defence, culminating in responsibility for very large defence projects, prior to joining Broadleaf as an Associate Director in 1999. While in Defence, Phil managed very large and complex projects with large multi-skilled teams scattered in many locations worldwide. His skills and expertise in projects centre on business, finance and contractual matters, although he has a strong technical knowledge. Phil has worked with the US Navy for three year in Philadelphia on a number of large scale maritime projects and initiatives.

Foreword

vii

Preface

ix

About the authors

xiii

Introduction to project risk management

1

(10)

Part I The basics of project risk management

11

(134)

The project risk management approach

13

(6)

Establish the context

19

(18)

Risk identification

37

(8)

Qualitative risk assessment

45

(14)

Semi-quantitative risk assessment

59

(14)

Risk treatment

73

(16)

Monitoring and review

89

(4)

Communication and reporting

93

(8)

Project processes and plans

101

(8)

Simplifying the process

109

(16)

Managing opportunities

125

(12)

Other approaches to project risk management

137

(8)

Part II Extending the basic process

145

(104)

Case study: tender evaluation

147

(14)

Contracts and risk allocation

161

(10)

Market testing and outsourcing

171

(12)

Public--private partnerships and private financing

183

(20)

Technical tools and techniques

203

(22)

Introduction to environmental risk management

225

(24)

Part III Quantification of project risks

249

(80)

Introduction to quantification for project risks

251

(12)

Cost-estimating case studies

263

(16)

Case study: planning a timber development

279

(16)

Capital evaluation for large resource projects

295

(16)

Risk analysis and economic appraisal

311

(10)

Conclusions

321

(8)

Part IV Additional information and supporting material

329

(42)

Risk management process checklist

331

(4)

Worksheets and evaluation tables

335

(22)

Examples of risks and treatments

357

(14)

Glossary

371

(4)

References

375

(4)

Index

379

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Project Risk Management Guidelines : Managing Risk in Large Projects and Complex Procurements

Project Risk Management Guidelines : Managing Risk in Large Projects and Complex Procurements

0470022817

Summary

Author Biography

Table of Contents

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