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How to Manage Project Opportunity and Risk: Why uncertainty management can be a much better approach than risk management by Stephen Ward, Chris Chapman

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Preface and overview by the authors

Projects are about the planning and delivery of beneficial change. This beneficial change may involve the creation of a desired physical asset or some less tangible organizational change. In either case, the pursuit of opportunities is an inherent central concern. Throughout any project what can be achieved is subject to uncertainty and risk, both of which require careful management alongside an ongoing search for opportunities to improve performance. This book explains how and why uncertainty management should be employed in all projects to pursue all opportunities in the face of uncertainty and risk. This approach goes well beyond what can be achieved with most risk management practice.

The target readership for this book includes two groups of experienced professionals. One group is director level senior managers who would like to broaden the scope and effectiveness of their organization’s current ‘risk management’ process capability for projects, operations and corporate strategy contexts – what some refer to as enterprise risk management (ERM). The second group is those involved in implementing that capability in a projects context. Aspiring members of both these groups are also target readers. This is a very broad target audience, beyond the scope of all ‘project risk management’ books.

In part the wide target readership is driven by the wide scope of the ‘project’ concept which we believe needs to be addressed. In broad terms a corporate ...

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