Practice Standard for Project Risk Management

by Project Management Institute

The Practice Standard for Project Risk Management covers risk management as it is applied to single projects only. It does not cover risk in programs or portfolios. This practice standard is consistent with the PMBOK® Guide and is aligned with other PMI practice standards. Different projects, organizations and situations require a variety of approaches to risk management and there are several specific ways to conduct risk management that are in agreement with principles of Project Risk Management as presented in this practice standard.

Genres: Management, Business

116 pages, Paperback

First published July 1, 2009

Reviews

[Ayham · Rating 1 out of 5]

No sinificant new info., it is all in the PMBOK, i don’t know what is the benefit of this book, since it is coping most of the “Risk knowledge area” in the PMBOK.

[Mohammed Barakat · Rating 4 out of 5]

The Practice Standard for Project Risk Management is a must-read for any PMI-RMP exam taker. Although it does not cover all exam areas, since the exam goes beyond the book’s material, it addresses important topics in RM such as objectives and critical success factors for each RM process, glossary, and, most importantly, a detailed list of tools and techniques that can be used in each process.

Being a standard, it is not a practical guide to implement RM; however, it represents a framework of applying it. I used this book to prepare for the PMI-RMP exam. And I believe it filled many gaps in my understanding of the RM processes and tools/techniques used. It explains each possible tool that can be used in any process with illustrations, examples, weaknesses, and strengths which made it one of the main references for preparation.

One of the drawbacks of this practice standard is that it does not address, at least explicitly, the domain of Risk Governance which is one of the four domains tested in the exam. This shortcoming made me use other references such as uCertify to complete my preparation.

I recommend this book to any exam taker especially that it is issued by PMI which makes it 100% credible
in every word and concept addressed.

[Nikos Korexenidis · Rating 4 out of 5]

complementary book of pmbok. I don’t know why they don’t unite them in one. Also it’s very general and abstract. You have to read more to understand practical how do use those principles in real life projects

[Vicente · Rating 4 out of 5]

Cut and dry standards, good for referencing

[Mohamed Ali · Rating 2 out of 5]

You have to read the PMBOK, so you can get understand other knowledge areas to identify and process risk and risk management