Chapter 14. Risk Management in Practice
DAVID HILLSON, PHD, PMP, FAPM, FIRM, RISK DOCTOR & PARTNERS
The word “risk” is a common and widely used part of our daily vocabulary, relating to personal circumstances (health, pensions, insurance, investments etc), society (terrorism, economic performance, food safety etc.), and business (corporate governance, strategy, business continuity etc.). One area where risk management has found particular prominence is in the management of projects, perhaps because of the risky nature of projects themselves. All projects to some extent are characterized by the following:
Uniqueness
Complexity
Change
Assumptions
Constraints
Dependencies
People.
Each of these factors introduces significant risk into every project, requiring ...
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