Key corporate implications
Chapter 14 takes a corporate perspective on project opportunity and risk management processes and considers what is involved in establishing and sustaining an organization’s PUMP pack capability. This is in part a matter of using what we have learned in Parts I to III to address all relevant corporate implications, in part a practical guide to starting to plan a corporate change that may be needed.
Chapter 15 considers contracts and governance as frameworks for enlightened relationship management. This is in part a question of generalizing the meaning of ‘contracts’ and ‘governance’ to accommodate uncertainty associated with the way people behave, in part a practical guide to what this means.
Chapter 16 looks at further important corporate implications of adopting a PUMP approach. This highlights the significant limitations of common practice enterprise risk management. Chapter 16 also considers the corporate capabilities that organizations should develop to support and deliver effective management of uncertainty, opportunity and risk. These capabilities include organizational learning, an appropriate organization culture, appropriate human resources capability, and decision support for addressing uncertainty.