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Proactive Risk Management

Release Date: 2020/10/01
ISBN: 9781000285659
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Listed as one of the 30 Best Business Books of 2002 by Executive Book Summaries. Proactive Risk Management's unique approach provides a model of risk that is scalable to any size project or program and easily deployable into any product development or project management life cycle. It offers methods for identifying drivers (causes) of risks so you can manage root causes rather than the symptoms of risks.  Providing you with an appropriate quantification of the key factors of a risk allows you to prioritize those risks without introducing errors that render the numbers meaningless. This book stands apart from much of the literature on project risk management in its practical, easy-to-use, fact-based approach to managing all of the risks associated with a project. The depth of actual how-to information and techniques provided here is not available anywhere else.

Table of Contents

  1. Cover
  2. Half Title
  3. Title Page
  4. Copyright Page
  5. Contents
  6. Preface
  7. Introduction
  8. Chapter 1: What Is Risk and How Is It Managed?
    1. Example of Project Risks
    2. Risk Management and Product Development
    3. What Is a Risk?
    4. Uncertainty
    5. Loss
    6. Time Component
    7. Why Companies Fail in Managing Risk
    8. Cross-Functionality
    9. Proactiveness
    10. The Antithesis of Risk Management: Firefighting
    11. How Much Risk Management?
    12. Risk As an Ally
    13. Attitudes toward Risk
    14. Summary
    15. Supplementary Reading
  9. Chapter 2: Using Project Risk Models
    1. Standard Risk Model
    2. Simple Risk Model
    3. Cascade Risk Model
    4. Ishikawa Risk Model
    5. Summary
    6. Supplementary Reading
  10. Chapter 3: The Risk Management Process
    1. Overview of the Process
    2. Step 1: Identifying Project Risks
    3. Step 2: Analyzing Risks
    4. Step 3: Prioritizing and Mapping Risks
    5. Step 4: Planning Resolution of Targeted Risks
    6. Step 5: Monitoring Project Risks
    7. Summary
    8. Supplementary Reading
  11. Chapter 4: Step 1—Identifying Project Risks
    1. Plan and Prepare
    2. Assemble a Diversity of Opinion
    3. Verify Risk Management Knowledge and Explain Project Details
    4. Get Participants Thinking Creatively
    5. Start Early—But Not Too Early
    6. Capturing Project Risks
    7. Schedule Based
    8. Development Process Based
    9. Success-Thwarting Based
    10. Prompt-List Based
    11. Facilitating the Session
    12. Balance between Optimism and Pessimism
    13. Running Example
    14. Summary
    15. Supplementary Reading
  12. Chapter 5: Step 2—Analyzing Risks
    1. Establish the Facts
    2. Conducting the Workshop
    3. Developing Risk Event Drivers
    4. Developing Impact Drivers
    5. Quantifying Total Loss
    6. Risk Scaling Considerations
    7. Calculate the Risk
    8. Probability Estimation Techniques
    9. Estimate Risk Event Probability
    10. Estimate Risk Impact Probability
    11. Calculate Expected Loss
    12. Working with Differing Units and Qualitative Scales
    13. Running Example
    14. Summary
    15. Supplementary Reading
  13. Chapter 6: Step 3—Prioritizing and Mapping Risks
    1. How to Prioritize
    2. 1. Sort Risks by Expected Loss
    3. 2. Develop a Risk Map
    4. 3. Develop a Prioritized List
    5. 4. Communicate the Prioritized List
    6. Running Example
    7. Summary
    8. Supplementary Reading
  14. Chapter 7: Step 4—Planning Resolution of Targeted Risks
    1. Risk Resolution Process
    2. Action Planning
    3. Avoidance
    4. Transfer
    5. Redundancy
    6. Mitigation
    7. Mitigation Actions
    8. Prevention Planning
    9. Contingency Planning
    10. Reserves
    11. Balancing Benefits with Cost
    12. Running Example
    13. Summary
    14. Supplementary Reading
  15. Chapter 8: Step 5—Monitoring Project Risks
    1. Ongoing Risk Management
    2. Progress on Resolution
    3. Terminating Action Plans for Risks Successfully Resolved
    4. Identifying New Risks
    5. Initiating New Action Plans
    6. Communication
    7. Product Development Team Communication
    8. Risk Management Metrics
    9. Strategic Metrics
    10. Tactical Metrics
    11. Risk Status Trend
    12. Current Risk Status
    13. Active Risk Loss Summations
    14. Active versus Inactive Losses
    15. Running Example—Conclusion
    16. Summary
    17. Supplementary Reading
  16. Chapter 9: Risk Management Toolkit
    1. Sticky Density
    2. Sticky Density for Risk Identification
    3. Retrospective Application to Root Causes
    4. General Guidance on the Sticky Density Technique
    5. Spreadsheets
    6. Decision Analysis
    7. Decision Analysis Methodology
    8. Decision Analysis Example
    9. Risk Simulation
    10. Design Structure Matrix
    11. Summary
    12. Supplementary Reading
  17. Chapter 10: Risk Management Approaches and Strategies
    1. Avoid Risk When It Does Not Add Value
    2. Stay Flexible on Unresolved Issues
    3. Maintain Contact with Customers
    4. Address the Risky Items First
    5. Apportion Risk Carefully
    6. Test at a Low Level
    7. Use Failure to Your Advantage
    8. Summary
    9. Supplementary Reading
  18. Chapter 11: Implementing a Project Risk Management Program Successfully
    1. Fitting Risk Management into Project Management
    2. Build Risk Management into All Project Phases
    3. Provide Data Management Tools
    4. Implementation Guidance
    5. Consider Risk Also As an Opportunity
    6. Train Your People
    7. Make Risk a Concern of Management
    8. Take Potential Problems Seriously
    9. Spare the Messenger
    10. Do Not Let the Engineers Run Project Risk Management
    11. Collect and Publicize Risk Metrics
    12. Jump In
    13. Do Not Oversell Project Risk Management
    14. Continuously Improve Your Implementation
    15. Extract the Learning from Each Project
    16. Summary
    17. Supplementary Reading
  19. Chapter 12: Case Studies from Allied Fields
    1. Manufacturing Ramp-Up Case Study
    2. Step 1: Identify Risk
    3. Step 2: Analyze Risk
    4. Step 3: Prioritize and Map Risk
    5. Step 4: Plan Resolution
    6. Step 5: Monitor Risk
    7. Embedded Software Development Case Study
    8. Step 1: Identify Risk
    9. Step 2: Analyze Risk
    10. Step 3: Prioritize and Map Risk
    11. Step 4: Plan Resolution
    12. Step 5: Monitor Risk
    13. Summary
    14. Supplementary Reading
  20. Glossary
  21. Index
  22. About the Authors
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