By Stephen Ward, Chris Chapman
"Based on a legitimate conceptual beginning but constructed to fulfill functional matters, venture chance administration has turn into famous as a customary paintings on its subject"--
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Extra resources for How to manage project opportunity and risk : why uncertainty management can be a much better approach than risk management
Indd 8 20/09/11 11:54 AM U N C E R TA I N T Y I N A N D A R O U N D P R O J E C T S 9 Time primary project (a) Chain configuration: stages in a primary project may be managed as a chain of component projects. component component component Time (b) primary project component project Parallel configuration: aspects of a primary project may be managed as a set of parallel component projects. component project component project Time primary project secondary project tertiary project (c) Project hierarchy: the primary project as a three-level hierarchy of component projects.
Indd 15 15 20/09/11 11:54 AM 16 HOW TO MANAGE PROJECT OPPORTUNITY AND RISK First, it is important to distinguish between strategic planning for operations, project execution and corporate strategy purposes. They are related but involve different purposes – a different ‘why’ in Kipling’s terms, with implications for the ‘who’. Second, it is important to distinguish between strategic and tactical planning for all purposes, and to ensure that all strategic planning precedes all tactical planning. Strategic and tactical planning also serve different purposes and often involve different people.
It is also a policy which is highly recommended as a corporate strategy. In our experience simple ‘handles’ are a form of jargon practitioners need for efficient communication when they all understand each other, but such jargon can seriously impede effective communication when they do not, and effectiveness can be the key. 3 is also nominal in the sense that alternatives can be used whenever appropriate, but effective uncertainty management should not oversimplify any of the distinctions that matter.