Risk Management- Concepts and Guidance by Carl L. Pritchard
Risk Management- Concepts and Guidance gives a collection of facts, roughly divided into two parts. In a first part of three chapters he gives general explanation about risk management. Afterwards in a second part of more than thirty chapters he explains (management) techniques one can use in projects.
The added value for the project manager is multiple:
– An explanation about the technique and its use
– The advantages or not of the technique
– You can combine techniques according to whether they go along with each other, such as combining brainstorming techniques with SWOT, a risk register and a risk matrix, supplemented with an urgency analysis and a sensitivity analysis.
The second advantage of Risk Management- Concepts and Guidance is that in my opinion it should not only be used in projects, but can also be used in business as usual (processes), or in the drafting of a multi-year plan for a larger organization.
There are also some minor disadvantages to the book in my opinion:
The emphasise on the fact that the eyes must remain open to recognize, report and asses risks through the course of the project as a whole is only in one of the last chapters.
But for a project manager despite these two flaws the book remains of great value, in addition to ISO 31010 because the explanation for each technique is much more complete and clear. It is a better start in my opinion to explore the assessment techniques needed to bring projects to a better end.