Risk Monetization: Converting Threats and Opportunities into Impact on Project Value addresses the organizational, political, cultural, and technical issues related to implementing a successful risk assessment, management, and monetization process. Suitable for readers in any organization or area of expertise, the book assumes no prior background in risk assessment, management, or monetization.
With more than three decades of experience in risk-process implementation, the author first explains the benefits of the risk-monetization process and how risk matters are generally not handled properly in contemporary organizations. He then introduces the terms and definitions essential to making risk monetization successful in a project. The text goes on to give examples of risk-monetization techniques applied in a variety of settings before discussing the typical risk situation for most projects and the shortcomings of conventional processes. It also describes how risk identification, assessment, management, and monetization processes are set up in an ideal environment as well as in imperfect situations. The final chapter focuses on how investment decisions are made based on the monetization and ranking of risks.
Enhancing your project’s value, this book offers step-by-step practical guidance on identifying, assessing, managing, and monetizing both threats and opportunities so that risk impedes the bottom line as little as possible. It shows you how to convert probable risks into positive impacts on the chance of success and/or profitability of any project.