the project management trenches, there is no way to anticipate,
predict, and mitigate every project variable - without a substantial
increase in the cost and timeline of the project. However, employing an
effective risk management process that regularly reviews high
probability, high impact risks will help the extended project team
understand the expected behaviors when a risk comes to fruition. Events
that cannot be accommodated in a project plan need to trigger a project
The above is an excerpt from a book written by Sanjiv Purba and
Joseph Zucchero, published by McGraw-Hill/Osborne, 2100 Powell Street,
10th Floor, Emeryville, California 94608 U.S.A. Sanjiv has over 20
years of experience managing large projects and many years engaged in
rescuing ailing projects.
Both the PMBOK® and AceIt®
include a chapters that deal effectively with Risk Management. Reading
and understanding this section will go a long way to providing the risk
management process referred to here.