Project Risk Management

Program/Project Management Resource List #22

Developed Nov. 2006

Provided by the NASA Headquarters Library

"The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk."
(Project Management Body of Knowledge (PMBOK), 1987)

Project risk management seeks to anticipate and address uncertainties that threaten the goals and timetables of a project. The uncertainties may include questions of material and parts quality; delays in delivery of sufficient materials to meet project needs; budgetary and personnel changes; and, incomplete knowledge or research. These risks lead rapidly to delays in delivery dates and budget overages that can severely undermine confidence in the project and in the project manager. Since project risk management is process oriented, it remains possible to have a successful project and an unsuccessful product (for example, an office construction project that meets or beats all time, budgetary, and quality requirements yet opens in a depressed real estate market.) While any project accepts a certain level of risk, regular and rigorous risk analysis and risk management techniques serve to defuse problems before they arise.

The Management of Safety & Technical Risks bibliography explores risk from the perspective of evaluating and anticipating chemical, engineering, and reliability concerns that may pose a threat to personnel, equipment, the public and the environment.

All items are available at the Headquarters Library. NASA Headquarters employees and contractors: call (358-0172) or email Library@hq.nasa.gov for information on borrowing or in-library use of any of these items. Members of the public, contact your local library for the availability of these items.


Contents: NASA Policies Books Articles and Reports Internet Resources

NASA Policies

The following procedural requirements can be accessed by anyone through the NASA Online Directives Information System.

NASA Policy Directive 7120.4C: Program/Project Management
 
NASA Procedural Requirements 7120.5C: NASA Program and Project Management Processes and Requirements
 
NASA Procedural Requirements 7123.1: Systems Engineering Procedural Requirements
 
NASA Procedural Requirements 8000.4: Risk Management Procedural Requirements
 
NASA Procedural Requirements 8705.5: Probabilistic Risk Assessment Procedures for NASA Programs and Projects

Note: The following standards can be accessed by NASA employees and contractors through http://standards.nasa.gov/. Members of the public, contact your local library for the availability of these items.

BS6079-3: Project Management - Part 3: Guide to the Management of Business Related Project Risk
 
FAA-P-1810: Acquisition Risk Management Guide
 
IEC 62198: Project risk management – Application guidelines
 
ISO 14300-1: Space systems — Programme management — Part 1: Structuring of a programme
 
ISO 14300-2: Space systems — Programme management — Part 2: Product assurance
 
ISO 17666: Space systems — Risk management
 
ISO/IEC Guide 73:2002(E/F): Risk management — Vocabulary — Guidelines for use in standards
 
Q850-97-CAN/CSA: Risk Management: Guideline for Decision-Makers - First Edition; General Instruction no. 1
 
SAE-ARP-9134: Supply Chain Risk Management Guideline

Books

Apgar, David. Risk Intelligence. Boston, MA: Harvard Business School Press, 2006.
HD 61 .A64 2006 PPM-Stacks
 
Branscomb, Lewis M. and Philip E. Auerswald (eds). Taking Technical Risks: How Innovators, Executives, and Investors Manage High-Tech Risks. Cambridge, MA: MIT Press, 2001
HD61 .B73 2001 PPM-STACKS
 
Cooper, Dale F. et al. Project Risk Management Guidelines: Managing Risk in Large Projects and Complex Procurements. Hoboken, NJ: J. Wiley, 2005
HD61 .P765 2005 BOOKSTACKS
 
Conrow, EH. Effective Risk Management: Some Keys to Success. Reston, VA: American Institute of Aeronautics and Astronautics, 2003
HD61 .C663 2003 PPM-STACKS
 
Dorofee, Audrey J. et al. Continuous Risk Management Guidebook. Pittsburgh, PA: Carnegie Mellon University; Alexandria, VA: Defense Technical Information Center [distributor], 1996
HD61 .D67 1996 PPM-STACKS
 
Emblemsvåg, Jan. Life-Cycle Costing: Using Activity-Based Costing and Monte Carlo Methods to Manage Future Costs and Risks. Hoboken, N.J.: Wiley, 2003
HD47 .E53 2003 PPM-STACKS
 
Gates, Stephen and Ellen Hexter. From Risk Management to Risk Strategy. New York, NY: Conference Board, 2005
HD61 .G38 2005 PPM-STACKS
 
Kendrick, Tom. Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project. New York: AMACOM, 2003
HD61 .K46 2003 PPM-STACKS
 
Kliem, Ralph L. and Irwin S. Ludin. Reducing Project Risk. Brookfield, VT: Gower, 1997
HD61 .K595 1997 PPM-STACKS
 
Martin, Paula K. and Bruce C. Chadbourne. The Professional Guide to Risk Assessment: The MTA Step-by-Step Method. Cincinnati, OH: Martin Training Assoc.: 2004
HD61 .M37 2004 PPM-STACKS
 
Mulcahy, Rita. Risk Management: Tricks of the Trade for Project Managers: A Course in a Book. Minneapolis, MN: RMC Pub., 2003
HD61 .M85 2003 PPM-STACKS
 
Schuyler, John R. Risk and Decision Analysis in Projects. Newtown Square, PA: Project Management Institute, 2001
HD69 .P75 S38 2001 PPM-STACKS
 
United States. General Accounting Office. Major Management Challenges and Program Risks. National Aeronautics and Space Administration. Washington, DC: The Office, 1999, 2001, and 2003
JK421 .M363 1999, 2001, and 2003 PPM-STACKS
 
__________. NASA: Lack of Disciplined Cost-Estimating Processes Hinders Effective Program Management. Washington, DC: The Office, 2004
TL521.312 .N363 2004 BOOKSTACKS
 
__________. NASA: Sound Management and Oversight Key to Addressing Crew Exploration Vehicle Project Risks. Washington, DC: The Office, 2006
TL521.3 .C74 2006 PPM-STACKS
 
Wang, John X. and Marvin L. Roush. What Every Engineer Should Know About Risk Engineering and Management. New York: Marcel Dekker, 2000
TA169 .W36 2000 PPM-STACKS

Articles and Reports

Bilbro, James W. "Technology Assessment Requirements for Programs and Projects", In Multi-Dimensional Assessment of Technology Maturity Workshop, Fairborn, OH, 9-11 May 2006
(20060024980: (9-11 May 2006) NTRS)
 
Bonnal, Pierre, Didier Gourc, and Germain Lacoste. "The Life Cycle of Technical Projects", Project Management Journal, vol. XXXIII, no. 1 (Dec. 2002): p. 12-19
 
Brothers, Mary Ann and Fayssal M. Safie. "Engineering Management Capstone Project EM 697: Compare and Contrast Risk Management Implementation at NASA and the US Army", In International Conference on Industry, Engineering and Management Systems, Cocoa Beach, FL, 11-13 March 2002
(20020048548: (11-13 March 2002) NASD)
 
Butler, Cassandra D. "Program and Project Management Framework", In 2002 Research Reports: NASA/ASEE Fellowship Program/ 29-38, NASA/CR-2002-211181, Kennedy Space Center, Cape Canaveral, FL, Dec. 2002
(20030062822: (Dec. 2002) NTRS)
 
Connley, Warren, Adrian Rad, and Stephen Botzum. "Integrated Risk Management Within NASA Programs/Projects", In Space Systems Engineering and Risk Management, Manhattan Beach, CA, 2004
(20040082140: (2004) NASD)
 
Cooper, LP. "Assessing Risk from a Stakeholder Perspective", In 2002 IEEE Aerospace Conference, Big Sky, MT, 8 March 2003
(20060030275: (8 March 2003) NTRS)
 
Datta, Sumit and MK Mukherjee. "Developing a Risk Management Matrix for Effective Project Planning-An Empirical Study", Project Management Journal, vol. XXXII, no. 2 (March 2001): p. 45-57
 
Davis, Marty. "Managing the Unexpected", ASK Magazine, no. 20 (Nov. 2004): p. 10-13
 
de Meyer, Arnoud, Christoph H. Loch, and Michael T. Pich. "Managing Project Uncertainty: From Variation to Chaos", MIT Sloan Management Review, vol. XLIV, no. 2 (Winter 2002): p. 60-67
 
Eden, Colin, Fran Ackermann, and Terry Williams. "The Amoebic Growth of Project Costs", Project Management Journal, vol. XXXVI, no. 2 (March 2005): p. 15-27
 
Fisher, K., et al. "Risk Management Integration into Complex Project Organizations", In 2002 IEEE Aerospace Conference, Big Sky, MT, 8 March 2003
(20060031962: (8 March. 2003) NTRS)
 
Hallgren, Markus and Eva Maaninen-Olsson. "Deviations, Ambiguity, and Uncertainty in a Project-Intensive Organization", Project Management Journal, vol. XXXVI, no. 3 (July 2005): p. 17-26
 
Hoffman, Thomas. "Weighting the Risks", Computerworld, vol. XL, no. 21 (22 May 2006): p. 45-46
 
Hyvari, Irja. "Success of Projects in Different Organizational Conditions", Project Management Journal, vol. XXXVII, no. 4 (Sept. 2006): p. 31-41
 
Lichtenberg, Steen. "The Successive Principle: A Scientific Crystal Ball for Management", In The IPSI BgD Transactions on Internet Research: Multi-, Inter-, and Trans-disciplinary Issues in Computer Science and Engineering, vol. II, no. 1 (Jan. 2006): p. 33-39
(20060028074: (Jan. 2006) NASD)
 
Margolies, Don. "Test What You Fly?", ASK Magazine, no. 9 (Oct. 2002): p. 7-11
 
NASA. Office of Aerospace Technology. Commercial Technology Division. "Quick Fix for Managing Risks", Spinoff 2002: p. 122-123.
 
Piney, Crispin. "Applying Utility Theory to Risk Management", Project Management Journal, vol. XXXIV, no. 3 (July 2003): p. 26-32
 
Pinto, Jeffrey K. "Project Management 2002", Research Technology Management, vol. XLV, no. 2 (March/April 2002): p. 22-37
 
Preyssl, C., R. Atkins, and T. Deak. "Risk Management at ESA", ESA Bulletin, no. 97 (March 1999): p. 64-68
 
Ray, Paul S. "Application of Risk Assessment Tools in the Continuous Risk Management (CRM) Process", In Research Reports 2001 NASA ASEE Summer Faculty Fellowship Program, NASA/CR-2002-211840, Marshall Space Flight Center, Huntsville, AL, July 2002
(20020068792: (July 2002) NTRS)
 
Raz, Tzvi. "A Critical Look at Critical Chain Project Management", Project Management Journal, vol. XXXIV, no. 4 (Sept. 2003): p. 24-32
 
Rozenes, Shai, Gad Vitner, and Stuart Spraggett. "Project Control: Literature Review", Project Management Journal, vol. XXXVII, no. 4 (Sept. 2006): p. 5-14
 
Sabelhaus, Phil. "Continuous Risk Management", ASK Magazine, no. 8 (May 2002): p. 38-39
 
Shivers, C. Herbert. "Communicating Risk to Program Managers", In 23rd International System Safety Conference, San Diego, CA, 22-25 Aug. 2005
(20050215601: (22-25 Aug. 2005) NTRS)
 
Smith, Greg. "Schedule Risk Assessment" In 1st Annual Development Day, Huntsville, AL, 24 Oct. 2003
(20040000740: (24 Oct. 2003) NASD)

Internet Resources

NASA Websites
Calhoun, Cynthia. Glenn Research Center Risk Management Office Risk Resource Site. 6 Jan. 2006 [cited 7 Nov. 2006]
http://smad-ext.grc.nasa.gov/rmo/crm/index.html
 
Dunbar, Brian. Independent Program Assessment Office. 7 April 2006 [cited 7 Nov. 2006]
http://ipao.larc.nasa.gov/index.cfm
 
Hoffman, Dr. Ed. Academy of Program/Project & Engineering Leadership. 17 Oct. 2006 [cited 2 Nov. 2006]
http://appel.nasa.gov/
 
Kerby, Jerald. Earned Value Management. 18 July 2006 [cited 2 Nov. 2006]
http://evm.nasa.gov/
 
Looney, Kelly. Program/Project On-Line Library and Resource Information System (POLARIS). 20 Oct. 2006 [cited 29 Nov. 2006]
https://polaris.nasa.gov/
 
Moore, Maureen. Office of the Chief Engineer. 17 Oct. 2006 [cited 2 Nov. 2006]
http://oce.nasa.gov/oce/home/index.html
 
O'Connor, Bryan. Office of Safety and Mission Assurance. 5 Jan. 2006 [cited 2 Nov. 2006]
http://www.hq.nasa.gov/office/codeq/
 
Tinsley, John. Risk Management. 6 Sept. 2005 [cited 2 Nov. 2006]
http://www.hq.nasa.gov/office/codeq/risk/risk.htm
Other Websites
BMP Center of Excellence. Program Manager's Work Station. 2003 [cited 7 Nov. 2006]
http://www.bmpcoe.org/pmws/index.html Note: Includes a link for downloading the Program Manager's WorkStation.
 
Committee for Oversight and Assessment of U.S. Department of Energy Project Management. National Research Council. The Owner's Role in Project Risk Management. 2005 [cited 7 Nov. 2006]
http://www.nap.edu/catalog/11183.html
 
Information Technology Toolbox, Inc. Project Management Lifecycle Risk Assessment. 2006 2005 [cited 7 Nov. 2006]
http://projectmanagement.ittoolbox.com/topics/t.asp?t=308&p=308&h1=308
 
Lestriez, Jean-Claude. Prima IST-1999-10193. 4 July 2001 [cited 7 Nov. 2006]
http://www.esi2.us.es/prima/
 
Risk Management SIG. 2006 [cited 7 Nov. 2006]
http://www.risksig.com/
 
Tusler, Robert. Reducing Project Management Risk. 1995 [cited 7 Nov. 2006]
http://www.netcomuk.co.uk/~rtusler/index.html
  Nov. 2006