****** - Verified Buyer
4.5
It is one thing to identify the risks, it is quite another to do something about actually managing the risks. If you don’t quantify the risks in terms that are actionable you can’t manage them. Risks are not static but very dynamic. Risks will change as the project progress and the other project elements change. Risks do not stand alone, but have a correlation to the project elements, including all the other project risks.Risk Management for Design and Construction is an umbrella discussion that is both generic in terms that lead a novice to understand the dynamics, functionality and benefits of Risk Base Estimating (RBE), and technically in-depth to challenge and expand the risk professionals expertise. Very few books can do both. Risk Management for Design and Construction does both and leads the reader to expand their horizons.The authors discuss the requirement of effective “Risk Elicitation”. “Risk Elicitation” is the result of the human interactions explaining their experiences with the subject risks. This book has an in-depth discussion on leading the risk workshop. It also discusses the in-depth identity of risk such as the well know probability and impact elements, but elaborates on the interactions of uncertainties, correlations and project internal and external forces of change. It describes the need and process for on-going RBE during the life of the project to effectively manage the evolving risks, both original risks that are changing and new risks that present themselves.Risk Management for Design and Construction is a must read for anyone wanting to be an effective manager of risks, this includes managers at the highest enterprise level, field project managers and their supporting staffs.