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The target audience includes board level senior managers ...
The target audience includes board level senior managers responsible for project, programme and project portfolio aspects of corporate policy, and their integration with corporate strategy and operations. It includes those charged with implementing projects at all levels, including uncertainty, opportunity and risk management professionals. And it includes aspiring members of these groups.
It shows why current project risk management practice, and related enterprise risk management practice, starts in the wrong place, pursues an inappropriate set of goals, uses the wrong tools, and fails to deliver what is needed.
This book goes beyond current project risk management orthodoxy in a number of ways. One is the use of an ‘uncertainty management’ perspective which transforms the scope of opportunities to enhance corporate performance, a central theme. A second is a ‘whole asset lifecycle’ perspective on all aspects of change management. A third is a holistic integration of quantitative and qualitative uncertainty management processes which clarify opportunity and risk recognising the subjective issues involved. A fourth is showing how uncertainty management and the rest of project management can be integrated, and all aspects of corporate uncertainty, opportunity and risk management can be integrated.
It shows how surprisingly simple approaches can lead to surprisingly powerful insights and results – used in the right place. It also shows why some impressively sophisticated and costly approaches involving common practice tools can create confusion and divert management effort away from what really matters.
Uncertainty management as described in this book is a process driven approach using concepts and tools which replace many common practice risk management ideas. They can be used to make better decisions with less cost, realising more opportunities for less effort, and taking less risk for more reward, to transform corporate performance.
Foreword to the second edition with an update by Tony Ridley xi
Foreword to the fi rst edition by Peter Wakeling xiii
Preface and overview by the authors xv
PART I Setting the scene 1
1 Uncertainty in and around projects 3
2 Uncertainty, risk and opportunity 43
3 Key motives for uncertainty management 73
4 An overview of generic process frameworks 101
PART II The generic process in one key lifecycle stage 131
5 Define the project 133
6 Focus the process 153
7 Identify all the relevant sources of uncertainty, response options and conditions 171
8 Structure all uncertainty 215
9 Clarify ownership 235
10 Quantify some uncertainty 251
11 Evaluate all the relevant implications 289
PART III The generic process in all lifecycle stages 325
12 Fully integrating the strategy shaping stages 327
13 Fully integrating the strategy implementation stages 365
PART IV Key corporate implications 389
14 Developing PUMP capability as a project 391
15 Contracts and governance as frameworks for enlightened relationship management 411
16 A corporate capability perspective 435