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Effective Opportunity Management for Projects (Center for Business Practices, 6) (PM Solutions Research) ReviewEven today as of November 2011 in my 3rd edition of this review, I believe this book to be the very best available in risk management with everything you need for you project risk knowledge.If you have listened to Dr Hillson in one of his lectures or presentations in a PMI Congress, you will be able to appreciate what to wait from the book. In my opinion, It is the best Project Risk Management book, which is one of my preferred knowledge areas, mostly due to the lack of attention by most of the project management community.
The book is well structured and complies very well with the current 4th edition of the PMBoK and the "Practice Standard for Project Risk Management" (in which design core Dr Hillson participated), going deep into the six risk processes. The risk identification chapter is packed with problem solving techniques, explained with accurate detail. I also enjoyed the qualitative assessment process chapter. The quantitative risk analysis chapter is devoted to the Monte Carlo simulation basics , but misses Decision Tree analysis. Dr. Hillson does well describing how to feed data into a simulation, given the results of the qualitative risk assessment, and interpreting the outputs of the simulation. However, John Shuyler "Risk and Decision Analysis in Projects" is more suited for quantitative risk analysis.
His exposition is perfectly clear, sometimes going into the subject over and over, so it is a great learning book suitable as a text book for Project Management masters or any postgraduate courses. Excellent as well for PMP and PMI-RMP candidates.
Don't be fouled by the title. The author goes into negative risks as well as opportunities. The title was good for 2004, when Dr Hillson was in a "crusade" to persuade project managers to pro-actively pursuit opportunities as well as negative risk. Today this is history and all of us know that we have to lunch with positive risk as much as threats. Since 2004, David Hillson has published many other excellent books on project risk and contributed with innumerable public papers and monthly briefings and he has contributed with the development of the ATOM project risk management system.
Jorge Alsina, PMP, Eng, PAG (review edited on November 21, 2011)Effective Opportunity Management for Projects (Center for Business Practices, 6) (PM Solutions Research) Overview
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