Risk Management

by Peter Parkes

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Many management consultants offer services in facilitation of risk management, from facilitating workshops, managing the process, to undertaking risk management as an ongoing service.

Project Management

People often associate a formal risk process with a project, and one key tool to minimise project risk is to use a project management methodology.


Project Risk Analysis and Management (PRaM) guide

Edited by Peter Simon, David Hillson and Ken Newland, published by The Association for Project Management, 1997, 96 pages.

This is regarded as the standard for risk management in projects, and contains detailed theory and ‘how to’ for more sophisticated techniques.


The Institute of Risk Management, www.TheIRM.org, has pages dedicated to processes, standards, education and certification.

The Office of Governemnt Commerce (OGC) sponsors a website which is a portal to several best practice methodolgies and includes Management of Risk. This site includes a lot of information including case studies.

In 2001, the Treasury produced Management of risk – A strategic overview, otherwise known as ‘The orange book’, via its website: www.hm-treasury.gov.uk. This is particularly relevant to risk management in financial services, or in financial provisioning in capital intensive industries.

@Risk for Excel spreadsheets


You can also contact the author directly: Peter Parkes