Identifying and Managing Project Risk

Identifying and Managing Project Risk by the book

Toby Elwin Blog, Book, Portfolio Planning

project, risk, toby elwin, Tom Kendrick, pmp, project risk

Organizations that identify and plan project risk ensure resources are available for growth.

Risk is anything that can positively or negatively affect the project. Positive risk frees up resources unexpectedly, negative risk ties up resources unexpectedly. Both present challenges.

The ability to scope, manage, and view a project, from concept to delivery, through a risk lens, presents the essence of organization competitive advantage.

The opposite of project effectiveness bogs down organization capital, both human and financial, through a cycle of change requests that drain human and financial resources and staff motivation who now need to focus how to get a wrong project right.

When you tie up capital resuscitating at-risk projects than capital is not available for investment.

I consider myself a recovering project manager. Yes, project management is a great profession and terrific competence, particularly the Project Management Institute (PMI) certification as a Project Management Professional (PMP), however, a gap (chasm) has revealed itself:

  • One one side: PMI’s feeling the world spins only by the grace of project management.
  • On the opposite side: an all-too-often rash of organizations that appoint project managers as administrative support to keep meetings on the calendar and meeting notes circulated.

That gap between perspectives is called risk.

As any profession demands maintaining continued education for on-going certification, so too does PMI. There expectation to remain certified presents a need for on-going Professional Development Units (PDUs). My area of chosen focus is risk. My annual lesson plan led me to an Advanced Risk Course and this book was presented in the coursework.

The sub title: Essential Tools for Failure-Proofing Your Project.

Good enough for me to add to my reading list.

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See a more current set of books on my reading list heavy rotation page.

Projects deliver business value. A vote to invest in one project is a vote not to invest on another.