Effective Risk Management

Risk management is an important project management and systems engineering skill that can be applied to a wide variety of projects. This is particularly important in an era of downsizing, consolidation, shrinking budgets, increasing technological sophistication, and shorter development times.

The text describes practices that can be used by both project management and technical practitioners including those who are unfamiliar with risk management. The reader will learn to perform risk planning, identify and analyze risks, develop and implement risk handling plans, and monitor progress in reducing risks to an acceptable level. The book will help the reader to develop and implement a suitable risk management process and to evaluate an existing risk management process, identify shortfalls, and develop and implement needed enhancements.

The second edition presents more than 700 risk management tips to succeed and traps to avoid, including numerous lessons learned derived from work performed on Air Force, Army, Navy, DoD, NASA, commercial, and other programs that feature hardware-intensive and software-intensive projects. The second edition includes a "roadmap" guide and expanded table of contents and index to enhance access to key information. A new appendix written by renowned risk management consultant and author Dr. Robert N. Charette addresses whether or not the definition of risk should include opportunity.