Decision Making in Risk Management Quantifying Intangible Risk Factors in Projects
Decision Making in Risk Management: Quantifying Intangible Risk Factors in Projects by Christopher O. Cox, published by CRC Press, Taylor & Francis Group in 2021, offers a focused exploration of project risk management. This 99-page book addresses the often-overlooked intangible risks associated with project delivery, emphasizing the need for a framework that identifies emergent behavior-centric risks and the conditions that trigger them.
Readers will find a comprehensive examination of quantitative measures for assessing behavior-induced risks, along with a systematic analytical approach to mitigate subjectivity in risk management. The book includes an illustrative case study from the oil and gas sector, showcasing the practical application of the proposed framework. It is particularly relevant for professionals in Project Management, Systems Engineering, Risk Management, and Behavioral Science, providing insights into the management processes necessary for effective decision-making in the face of intangible risks.
Official synopsis Publisher
Project risk management is regarded as a necessary dimension of effective project delivery. Current practices tend to focus on tangible issues such as late delivery of equipment or the implications of technology. This book introduces a framework to identify emergent behavior-centric intangible risks and the conditions that initiate them.
Decision Making in Risk Management: Quantifying Intangible Risk Factors in Projects identifies the quantitative measures to assess behavior-induced risks by presenting a framework that limits the interpersonal tension of addressing behavioral risks. Included in the book is an illustrative case study from the oil and gas sector that demonstrates the use of the framework. The missing dimension of behavior-centric intangible risk factors in current risk identification is explored. The book goes on to cover management processes, providing a systematic analytical approach to mitigate subjectivity when addressing behavioral risks in projects.
This book is useful to those working in the fields of Project Management, Systems Engineering, Risk Management, and Behavioral Science.
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