Project Risk Management Guidelines: Managing Risk in Large Projects and Complex Procurements
January 2005, ©2005
About the authors.
Introduction to project risk management.
Part I: The basics of project risk management.
1. The project risk management approach.
2. Establish the context.
3. Risk identification.
4. Qualitative risk assessment.
5. Semi-quantitative risk assessment.
6. Risk treatment.
7. Monitoring and review.
8. Communication and reporting.
9. Project processes and plans.
10. Simplifying the process.
11. Managing opportunities.
12. Other approaches to project risk management.
Part II: Extending the basic process.
13. Case study: tender evaluation.
14. Contracts and risk allocation.
15. Market testing and outsourcing.
16. Public–private partnerships and private financing.
17. Technical tools and techniques.
18. Introduction to environmental risk management.
Part III: Quantification of project risks.
19. Introduction to quantification for project risks.
20. Cost-estimating case studies.
21. Case study: planning a timber development.
22. Capital evaluation for large resource projects.
23. Risk analysis and economic appraisal.
Part IV: Additional information and supporting material.
25. Risk management process checklist.
26. Worksheets and evaluation tables.
27. Examples of risks and treatments.
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.