Managing Risk with ISO 31000 and IEC 62198

Risk runs through the fabric of any project.  It is so
intimately bound up in forecasting and decision making that it
cannot be isolated or handled separately from other project
management activities.  Success can only be achieved if risk
management is integrated closely with project management.

Over the past decade, developments in risk management methods
and standards have addressed the need to manage risk in a project
in an integrated manner.  This is a more natural way of
working than past practices have been.  It has beneficial
effects on the practice of risk management and the way it is
implemented in projects.

This new edition of Project Risk Management
Guidelines has been fully updated to include the new
international standards that embody this principle, ISO 31000
Risk management and IEC 62198 Managing risk in
projects.  The book explains the standards and how they
can be applied.  It provides a clear introduction to basic
project risk management, introduces the reader to specialized areas
of projects and procurement, and shows how quantitative risk
analysis methods can be used in large projects.

Chapter by chapter, the authors present simple, practical steps
and illustrate them with examples drawn from their extensive
experience from around the world, in many different industry
sectors and cultures and at all stages of projects from conception
through development and into execution. Qualitative and
quantitative approaches are covered. Traditional structures and
processes are discussed as well as developments in the way projects
are conducted, such as outsourcing arrangements and risk-sharing
structures like public?private partnerships.

Improved outcomes can be achieved when sound risk management is
used to capture opportunities and reduce threats. Its unique focus
and wealth of checklists, tables and other resources make this book
an essential and enduring tool for anyone involved with project
work.