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The Project Risk Maturity Model, Measuring and Improving Risk Management Capability

BOOK REVIEW

Book Title:  The Project Risk Maturity Model, Measuring and Improving Risk Management Capability

Author:  Martin Hopkinson

Publisher:  Gower Publishing Ltd, UK

List Price:   US$124.95

Format:  hard cover, 264 pages

Publication Date:   December 2010

ISBN: 9780566088797

Reviewer:      Sylvia C Karmanoff
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Introduction to the Book

This book describes a process to assess an organization’s ability to consistently identify and manage project risks. Quantifying and managing risk throughout a project lifecycle enables organizations to improve project outcomes, in terms of schedule, resource, and cost performance. The goal of the process described in this book is to help organizations to measure and improve their ability to manage risk.

A CD is included. The CD contains the QinetiQ application, a risk maturity model assessment tool. The tool is easy to load and asks a series of 50 questions designed to uncover the risk management abilities of the organization being assessed. Based on these questions, the tool generates 2 graphs assessing the risk maturity against a number of contributing factors. In addition to providing an assessment, the tool also provides examples and case studies to illustrate organizational behavior at each level of maturity by contributing factor.

Overview of Book’s Structure

The book is organized into two parts, an introduction to the project risk maturity model and a guide to using the model. Also included are appendices describing: attributes of the risk maturity module levels, project risk management principles, governance of project management, and the QinetiQ tool. A CD is included containing the QinetiQ application.

Highlights: What’s new in this Book

Hopkinson provides a comprehensive process to assess and improve an organization’s ability to manage risk. The tools and charts generated by the assessment tool could be useful to communicate the organizational benefits of a good risk management to executives and decision makers in easily comprehendible terms.

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About the Reviewer

Sylvia C Karmanoff

Sylvia Karmanoff is Senior Director, Professional Services and Solutions Delivery, at Numerex Corporation (NMRX) where she is responsible for Numerex’s Professional Services group, providing solutions oriented consulting, leveraging Numerex platforms and expertise in M2M, and helping customers create disruptive products through implementation of remote monitoring & control systems.   Karmanoff is a results-driven, customer-focused, Product Management, Solution Delivery, and Business Development Executive with over 20 years of experience in wireless communications, electronic products, software, and global automotive industries. She is an effective executive who engages & mobilizes all levels of the organization to deliver bottom line results.

Prior to Numerex, Sylvia Karmanoff was president of KEMSI, a consulting firm specializing in strategy, product and project management. She led a consulting practice focused on remote resource management and applications of telematics in consumer, commercial, and transportation industries.

Karmanoff has held senior positions at Aeris Communications, OnStar, General Motors Corporation, and Rockwell International. Her higher education degrees include an M.S. in Computer Science from University of California in Irvine, CA, and an M.B.A. from Michigan State University. She is a certified Project Management Professional. Throughout her career, Karmanoff has served as a Board Member for a number of associations and non-profits, including the University of Michigan Alumni and PMI local chapters.  She currently serves as president of Stonehaven Home Owners Association.

Sylvia can be contacted at [email protected].

Editor’s note:  This book review was the result of cooperation between the publisher, PM World Inc and the Dallas Chapter of the Project Management Institute (www.pmidallas.org). Publishers provide books to PM World, books are delivered to the PMI Dallas Chapter where they are given to chapter members who commit to providing a book review in a standard format; the reviews are published in the PM World Journal and PM World Library.  Since PMI Dallas Chapter members are generally mid-career professionals, they represent the intended audience for most PM books.  If you are an author or publisher of a book related to program or project management, and would like the book reviewed through this program, please contact [email protected].