Recommended books and guides

A short and selective list of the books and guides related to risk management that I would recommend.

Project Risk Management
  1. Association for Project Management (2004). Project Risk Analysis and Management (PRAM) Guide (2nd Edition).
  2. Chapman, C & Ward, S. (2002) Managing Project Risk and Uncertainty; a Constructively Simple Approach to Decision Making.
  3. Chapman, C & Ward, S. (2011) How to Manage Project Opportunity and Risk - Why uncertainty management can be a much better approach than risk management (3rd Edition).
  4. Vose, D (2008). Risk Analysis – a Quantitative Guide (3rd Edition).
  5. Hopkinson, M (2011). The Project Risk Maturity Model – Measuring and Improving Risk Management Capability.
  6. Hopkinson, M (2016). Net Present Value and Risk Modelling for Projects.
  7. Hulett, D (2009). Practical Schedule Risk Analysis.
  8. Hulett, D (2011). Integrated Cost-Schedule Risk Analysis.
  9. Hopkinson, M et al (2008). Prioritising Project Risks.
  10. Williams, T (2002). Modelling Complex Projects.
  11. Hillson, D and Murray-Webster, R. (2005). Understanding and Managing Risk Attitude. Farnham, UK, Gower Publishing.
  12. Flyvbjerg, B, Bruzelius, N and Rothengatter, W (2003). Megaprojects and Risk – an Anatomy of Ambition
  • Chapman & Ward (2011) is the third edition of the book previously entitled Project Risk Management - Processes, Techniques and Insights. Itis considered by many people to be the leading academic text book on the project risk management process. The third edition is a significant rewrite that addresses project risk from the perspective uncertainty (i.e. lack of certainty).
  • The Association for Project Management PRAM Guide is preferred in my list to other similar guides because it is the only one that explicitly recommends the use of a top-down multipass approach. It is currently being reviewed, with a third edition planned.
  • Vose (2008) covers a number of other applications of quantitative risk analysis in addition to project risk management. It is instructive to see how similar principles apply to non-project modelling.

Popular books on risk

  1. Kahneman, D (2011). Thinking Fast and Slow.
  2. Bernstein, P.L (1996). Against the Gods – the remarkable story of risk.
  3. Mackay, C (1852). Extraordinary Popular Delusions and the Madness of Crowds.

Short Association of Project Management Guides on the associated topic of project governance

  1. GoPM Specific Interest Group (2004) Directing Change, A guide to governance of project management. (available for free dowload at
  2. GoPM Specific Interest Group (2007) Co-directing Change, A guide to governance of multi-owned projects.
  3. GoPM Specific Interest Group (2009) Sponsoring Change - A Guide to the Governance Aspects of Project Sponsorship.