Practical Project Risk Management - the ATOM Methodology

Dvid Hillson and Peter Simon

Management Concepts, 2007
ISBN 1567262023

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This book addresses the practical difficulty that dogs the risk manager's existence - that of persuading one's colleagues to use the risk management systems available to them. The concept of a scalable risk management methodology (like most good ideas, blindingly obvious once articulated) is a practical response to this perennial problem.

Hillson and Simon offer a readable and practical summary of risk management techniques,which, while not new, are handily packaged in this volume, together with a number of useful templates. The book guides the reader through several levels of project complexity (small, medium and large), suggesting the appropriate level of risk management process for each.

In addition to the more technical aspects of risk identification and quantification, Hillson's earlier work on risk attitude informs this work, giving it a broader base than some more academic volumes.

The framework offered by the authors to establish the appropriate scale of risk management process gives a useful template that could be adapted for almost any project environment. Their instructions on briefing and holding risk management workshops are sufficiently detailed to be useful to the inexperienced, while acting as an aide memoire to those more familiar with the technique.

I find the free use of acronyms in the more technical reaches of risk management somewhat tiresome, while acknowledging that some of the author's target audience may be attracted by the gloss added by a whizzy acronym! This is a minor quibble - the methodology espoused by the authors of practical and effective risk management techniques coupled with appropriate methods of recording and communication is clearly explained and well presented.

This book has enough general appeal to make it a useful addition to any risk management library, while being of particular appeal to project managers and project risk managers. It not only gives a clear picture of what techniques should be used but also an easy to follow how to do it guide, backed by adaptable templates that are a practical basis for complete recording of risk information and decisions. An excellent book, highly recommended.

Reviewed by Pauline Bird MIRM, Senior Manager, BR Technical and Risk Management, BDO Stoy Hayward