Risk Navigation Strategies for Major Capital Projects [electronic resource] : Beyond the Myth of Predictability / by Asbjørn Rolstadås, Per Willy Hetland, George Farage Jergeas, Richard E. Westney.Material type: TextLanguage: English Series: Springer Series in Reliability Engineering: Publisher: London : Springer London, 2011Description: XIV, 182 p. online resourceContent type: text Media type: computer Carrier type: online resourceISBN: 9780857295941Subject(s): Economics | System safety | Industrial management | Business planning | Economics/Management Science | Innovation/Technology Management | Quality Control, Reliability, Safety and Risk | Organization/Planning | Management/Business for ProfessionalsAdditional physical formats: Printed edition:: No titleDDC classification: 658.514 LOC classification: HD28-70Online resources: Click here to access online
1. Introduction -- 2. Exposing the Myth of Predictability -- 3. Rethinking Project Risk Management -- 4. A New Approach to Project Risk Navigation -- 5. Jaywalking With George -- 6. Expanding the Project Risk Concept -- 7. The Change Process -- 8. Reshaping the Governance System -- 9. Improving the Decision Process -- 10. A New Strategic Planning Model -- 11. Redefining the Project Execution Strategy -- 12. Allocating Risk at the Contract Level -- 13. Enhancing the Effectiveness of Project Teams -- 14. Closing Remarks.
Investors and managers of major projects know how often they result in cost overruns and schedule delays. Risk Navigation Strategies for Major Capital Projects builds on conventional best practice to provide a risk-based view of current practices for planning and executing large international projects. As economies of scale continue to drive projects to ever-higher levels of scope and complexity, new thinking about strategy and risk is required. Since major projects are highly exposed to external risks, the traditional view of predictability as something that can be mandated and ensured by rigorous application of conventional best practice has become a myth. Fresh thinking is required to manage projects today, and this book provides a framework for taking project management best practice to the next level. Risk Navigation Strategies for Major Capital Projects is intended for executives investing in major projects, project leaders and managers, as well as those with a teaching or research interest in project and risk management.