SPONSORS

SPONSORS

The Risk Doctor’s Cures for Common Risk Ailments

BOOK REVIEW

pmwj28-nov2014-King-BOOK COVERBook Title: The Risk Doctor’s Cures for Common Risk Ailments
Author: David Hillson
Publisher: Management Concepts Press
List Price:   US $26.10
Format: Soft Cover; 222 pages
Publication Date:   August 2014
ISBN: 9780814408759
Reviewer:      Michael H. King
Review Date:            October 2014
________________________________________________________________________

Introduction to the Book

I am a long-time Banking Software Project Manager at a financial institution. In recent times we have greatly increased our focus and attention on active Risk Management planning and execution. Embracing Risk Management is part of our arsenal to provide high quality and customer satisfaction. I also hold the PMP Certification and am familiar with the Project Management Institutes’ Project Management Body of Knowledge (PMBOK), which contains superb planning and execution guidance for robust Risk Management. Therefore I was quite interested to read this book both for professional as well as personal development reasons.

This book provides marvelous, well-thought-out explanations of the key principles of Risk Management, including why Risk Management is so important and valuable. It also provides a roadmap of the most common Risk problem areas that individuals and organizations face, in detecting and managing Risk. It offers sound and straightforward advice, to address each problem area. In the Epilogue, the focus is on the Big Picture, documenting key Strategies and holistic approaches to ensure robust Risk Management performance.

The book is very well-written and was fun to read. Concepts are clearly presented and explained. The author has that seldom-found ability to present the material concisely in a well-thought-out way.

Overview of Book’s Structure

The book has a brief Overview that lays the foundation for the rest of the book. The author points out that he chose a medical framework as a convenient metaphor. It’s a fresh and intuitive way to view and understand Risk Management.

The book then presents 10 “Risk Ailments”, each of which has a Name, a Diagnosis, Symptoms, Prognosis/Effects, Cases, and Treatments.   Again the medical metaphor works extremely well. Here is one greatly-simplified example:

Ailment:        Risk Myopia

Diagnosis:    Focusing only on short-term risks

Symptoms:   Concentrating on details, missing big picture

Prognosis:    Failure to look ahead; Loss of focus on overall objectives

Cases:           Financial Sector Pre-2008

Treatments: “Corrective lenses” to allow us to see the risks that are actually there.

Managing risk is not only a personal effort; there must also be organizational efforts at all strata to be totally successful. The book concludes with an Epilogue, which contains strategic guidance for making robust organizational processes for specifically dealing with risk.

More…

To read entire Book Review (click here)

About the Reviewer

Michael H. King flag-usa

North Texas, USA

Michael King is a Banking Application Project Manager for a large Financial Institution.  He is a PMP and has been a PMI member for 20 years.  He programmed mainframe, midrange, and PC Applications for 15 years, then moved into Project Management.  He has managed Applications Development for Banking Software for the past 18 years.  He has extensive experience in Funds Transfer, Item Processing, Electronic Check Presentment, ACH, and Credit Card.  He also is a Composition and Fulfillment Subject Matter Expert.    Michael can be contacted at [email protected].

Editor’s note: This book review was the result of cooperation between the publisher, PM World and the Dallas Chapter of the Project Management Institute (PMI Dallas Chapter – www.pmidallas.org). Authors and publishers provide books to PM World; books are delivered to the PMI Dallas Chapter, where they are offered free to PMI members to review; book reviews are published in the PM World Journal and PM World Library. PMI members can keep the books as well as receive PDUs for PMP recertification when their book reviews are published. PMI Dallas Chapter members are generally mid-career professionals, the audience for most project management books. If you are an author or publisher of a project management-related book, and would like the book reviewed through this program, please contact [email protected].