Part of the following is from our book on Leading Megaprojects, A Tailored Approach. It is about the illusion of risk transfer that project owners might experience as a result of fixed-price contracting. We will first address the culture of fixed-price contracting, and next, we will discuss the illusion of risk transfer.
Many, if not most people in project management know Murphy or Murphy’s Law. According to the Murphy’s Law Website, “If anything can go wrong, it will“. For more information about the origin of this law, visit http://www.murphys-laws.com/murphy/murphy-true.html. What does this mean to us in project management?
This is the third article of a 3-part series on the money aspects for project risk management, including a discussion on estimating, budgeting, contingency and management reserve. In this article we discuss the response cost.
This is the second article of a 3-part series on the money aspects for project risk management, including a discussion on estimating, budgeting, contingency and management reserve. In this article we discuss the management cost.
In this article we start a 3-part series on the money aspects for project risk management, including a discussion on estimating, budgeting, contingency and management reserve.
This is the second article of our series on Project Risk Management In this article we will discuss key definitions related to a common debate on risk management, which is: are risks always threats or we can consider opportunities as risks as well?
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