Identifying and Managing Project Risk

Identifying and Managing Project Risk provides a comprehensive framework for risk management in project environments. The book draws from extensive real-world project data collected in the Project Experience Risk Information Library (PERIL), offering quantifiable insights into common risk factors and their mitigation. The structure follows the standard project lifecycle stages from the Project Management Body of Knowledge (PMBOK), with each chapter focusing on risks specific to initiation, planning, controlling, executing, and closure. Throughout the text, Kendrick reinforces concepts with case studies from the Panama Canal construction, demonstrating risk management principles through historical examples. Beyond theoretical frameworks, the book includes practical tools and techniques for risk identification, analysis, and response planning. The appendix contains over 120 documented project elements that serve as reference points for risk assessment across various scenarios. This systematic examination of project risk management bridges academic theory with practical application, making it relevant for both experienced project managers and those new to the field. The work emphasizes the importance of proactive risk management as a fundamental component of project success.

Readers describe this as a methodical guide to project risk management, with detailed examples from NASA and other organizations. Many cite it as helpful for PMP exam preparation. Liked: - Clear templates and tools for risk analysis - NASA case studies provide concrete applications - Step-by-step process for identifying risks - Practical checklists and appendices Disliked: - Dense academic writing style - Too focused on software/IT projects - Some sections feel repetitive - Charts and graphics appear dated One reader noted "The NASA examples make complex concepts tangible." Another mentioned "The writing is dry but the frameworks are valuable." Ratings: Goodreads: 3.8/5 (327 ratings) Amazon: 4.3/5 (89 ratings) Several project managers reported using the book's appendices as ongoing reference tools. PMP candidates frequently recommend reading chapters 4-6 for exam preparation, though some found the full text "overwhelming" for first-time study.

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🔹 The PERIL database referenced in the book contains over 600 project case studies and represents one of the largest collections of documented project failures and successes used for risk analysis. 🔹 The Panama Canal project, which features prominently in the book, resulted in over 25,000 deaths during its construction phase and faced nearly every category of project risk, from technical to political. 🔹 Author Tom Kendrick has managed projects at Hewlett-Packard, General Electric, and DuPont, accumulating over 40 years of project management experience before writing this influential guide. 🔹 The book aligns with the Project Management Institute's PMBOK framework, which is recognized in over 200 countries and has become the global standard for project management practices. 🔹 The risk management techniques described in the book were instrumental in several major technological projects, including the development of the first commercial digital cameras at Hewlett-Packard.