Integration, general approach and definitions - Risk identification - Risk assessment goals and methodology - Computer applications - Risk response and documentation - Management of contingency allowances - Managing the risks of the project's environment - Dealing with risks in contracts.

Effective risk and opportunity management is key to the successful delivery of any major engineering and construction project. This book looks at how all those involved can manage risk and capitalise on the opportunities that uncertainty present. The authors of this book highlight that uncertainties should be managed rather than avoided. This book will look at simple projects with a small team, to megaprojects where some hundreds of people are involved, and the consequences of delays or unforeseen costs. However, while the obvious risks can be planned for, the authors argue that it is often the opportunities in these situations that can have unexploited potential. This book is about opportunity management seen from the owner’s perspective. It will be an invaluable resource for those studying Engineering both undergraduate and postgraduate and set out ways in which projects should be managed from planning to completion. This book is also a great tool for those working in project management and the construction industry. While there are many books that demonstrate effective construction management, this book is the first of its kind to emphasise that there is opportunity in uncertainty, and possibility in the unexpected.

Risk management strategy for the pioneering technological sector Enterprise Risk and Opportunity Management provides much-needed guidance tailored specifically to the technological sector. While most enterprise risk management guides are written for traditional businesses and finance firms, this book translates effective enterprise risk and opportunity management (EROM) principles into strategies and practices that work for government, nonprofit, and for-profit organizations in the technological space. Originally designed for noncommercial pioneering enterprises like NASA, an entire chapter is now devoted toward applying the methods to profit-making technological enterprises. A 40-year veteran of the tech sector, Dr. Allan Benjamin outlines risk management strategies for organizations in which the advancement and integration of science and technology within complex systems is necessary for accomplishment of the mission. Commercial EROM strategies do not translate directly when the development and implementation of risky technologies is the organization's primary objective, and clumsy or near-sighted implementation can easily cripple progress. This book provides authoritative guidance tailored to the sector's specialized needs. Maximize opportunity while effectively managing risk Understand the core principles of the technological EROM approach and its interfaces with the management of the organization Comprehend the intricacies of aggregating risks and opportunities from lower to higher levels of the organization Gain expert insights specific to the technology sector Mitigate and control the risk that comes with pursuing discovery In practice, EROM in this sector involves working with mostly qualitative data, and is characterized by high uncertainty. Managing risk without handicapping the organization requires a specific set of adjustments to traditional EROM, and a more nuanced approach to the idea of "acceptable risk. Balance is key in technological EROM, and Enterprise Risk and Opportunity Management provides foundational guidance, real-world strategy, and enlightening examples for getting it right.

With step-by-step guidelines, this bestselling reference discusses the management of project opportunities by expanding the traditional risk management process to address opportunities alongside threats. It offers valuable tools and techniques that expose and capture opportunities, minimize threats, and deal with all types of uncertainty in your business and projects. Written by an experienced consultant and risk management specialist, this guide emphasizes that risk processes must cover both opportunities and threats if they are to assist in accomplishing project objectives and maximizing business benefits.

Public Private Partnership is a key issue in the construction industry – causing much concern among contractors, funders and facility managers. Demand has been building for a thorough analysis ... This edited book will familiarise both researchers and construction professionals working with public private partnerships (PPP) with the issues involved in the planning, implementation and day-to-day management of public private projects. It will show how current risk management methods can help the complex process of managing procurement via such partnerships. The chapters - most authored by a practitioner/academic partnership - are organised round the concepts of best value and use the findings of a major research project investigating Risk Assessment and Management in Private Finance Initiative Projects. The analysis of this research will be supplemented with contributions by leading international experts from Hong Kong, Australia and Singapore, covering hospitals, schools, waste management and housing - to exemplify best practice in PPP-based procurement.

With more than three decades of experience as a thought-leader and expert practitioner, PMI Fellow Dr. David Hillson shares practical insight into how upside risks can be identified, assessed, and managed as opportunities. After reviewing the benefits of identifying opportunities, the book steps through the opportunity identification and management process in detail, describing proven tools and techniques as well as specific tips to make them work in practice. The book places opportunity management in the context of traditional risk management, providing a familiar pathway that leads project managers to discover new benefits and successes. David Hillson is one of the foremost authorities on risk management. With his latest book he presents a strong case for managing opportunities. As with all of David’s books, the style of writing is engaging and easy to understand. There are many nuggets of wisdom in this book, as well as a hands-on approach to leveraging opportunity management as a way of improving project performance. — Cyndi Snyder Dionisio, PMI Fellow, Coronado CA, USA. (Chair of the PMBOK® Guide, Sixth Edition) I enjoyed reading this book, which is precise, clear, logical, and persuasive. The clarity of thought and expression explains why David is such a sought-after speaker. This book is a must-read for project risk practitioners, as well as for project professionals who are serious about addressing all the risks on their project, including the good ones. — Dr Dale Cooper, Cammeray NSW, Australia. (Director, Broadleaf Capital International) At last, a clear and valuable book linking both sides of the coin in risk management: threats and opportunities. David Hillson truly engages the reader on how to deal with these two types of risk in projects, sharing his wisdom and extensive experience in creating value from risk management. Anyone who has to manage risk in real-world projects should read this book to enhance their opportunity management skills. — Professor Salim Al-Harthi, Muscat, Oman. (Director of Risk Management Office, Sultan Qaboos University) It is vital for value creation in business and in life that we consider uncertainties that would have upside impacts on our objectives (opportunities), as well as downside impacts (threats). Business gets confused between opportunities where there is a binary choice to take or not, and true uncertain opportunities that can be seized, or left to chance. David has persevered in helping us understand this and this important book is a must-read for all leaders who want to create value through the proactive management of risk. — Dr Ruth Murray-Webster, Wakefield, UK. (Partner, Beyond the Deal LLP and Editor, APM Body of Knowledge, 7th Edition) As project managers, we always seem to focus on threats, negative risks. David Hillson, one of the foremost thought-leaders on risk management, explains approaches to identify and manage opportunities, positive risks and how this will help achieve project success. As with his previous books, David provides a structured approach with examples, tools, and techniques. An excellent resource for all project managers in today’s world. — Peter Monkhouse, Toronto ON, Canada. (Past Chair PMI Board of Directors)