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Project Risk Quantification: A Practitioner's Guide to Realistic Cost and Schedule Risk Management [Print Replica] Kindle Edition

by John Hollmann (Author) Format: Kindle Edition
4.5 4.5 out of 5 stars 46 ratings
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Project Risk Quantification presents the most practical, realistic, and integrated approach to project cost and schedule Risk Quantification that is available today! It offers proven, empirically-valid methods and tools applicable to projects of all types and at all decision gates. The text is written for both the manager and the risk analysis practitioner. It will bring reliable accuracy and contingency determination to your capital project organization.
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Product details

  • ASIN ‏ : ‎ B07T9HZJK4
  • Publisher ‏ : ‎ Probabilistic Publishing (June 20, 2019)
  • Publication date ‏ : ‎ June 20, 2019
  • Language ‏ : ‎ English
  • File size ‏ : ‎ 12341 KB
  • Text-to-Speech ‏ : ‎ Not enabled
  • Enhanced typesetting ‏ : ‎ Not Enabled
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  • Sticky notes ‏ : ‎ Not Enabled
  • Customer Reviews:
    4.5 4.5 out of 5 stars 46 ratings

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John K. Hollmann

John K. Hollmann

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John Hollmann is the owner of Validation Estimating, LLC. After 10 years in the coal mining industry, he went off in different direction. He now works with capital program senior managers and project leaders to improve practices in cost estimating, project control and cost/schedule risk quantification. John regularly reviews major international project estimates and conducts risk analyses in support of investment decision making. Mr. Hollmann is a frequent speaker at international conferences, has written numerous papers and was lead author of the AACE International text; the Total Cost Management Framework. John is an Honorary Life Member of AACE and recipient of their Award of Merit. He also led the development of the AACE Decision and Risk Management Professional certification. Prior to founding Validation Estimating, Mr. Hollmann led the Cost Engineering Committee metrics and research efforts at Independent Project Analysis, Inc. John is a registered Professional Engineer and, via AACE, a Certified Cost Professional, a Cost Estimating Professional and Decision and Risk Management Professional.

Customer reviews

4.5 out of 5 stars
4.5 out of 5
46 global ratings

Top reviews from the United States

Jaime
5.0 out of 5 stars Great practical guide to project risk quantification
Reviewed in the United States on February 15, 2021
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This is a great book all around. The author explains the concepts very clearly, using examples from real projects and from his own experience. He is rigorous with the use of statistics but avoids adding unnecessary complexity both when explaining the concepts and when applying them to build the risk quantification models. Thus, the models put forth in the book are eminently practical and relatively easy to use in all projects and work environments. I highly recommend the book for those interested in empirically-grounded and practical risk quantification methods.
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Mikhail Fedorov
5.0 out of 5 stars Simply brilliant must-read for project management practitioners
Reviewed in the United States on August 24, 2016
This is the most valuable book on project risk management in my entire career since David Hulett's " Integrated Cost-Schedule Risk Analysis " and I wish it came earlier. It is broad enough in coverage to be sufficient as a reference on almost any specific subject, but where deeper knowledge required you can always find a reference to other important sources. It also has a flavour of being written by a strong practitioner with years of knowledge and experience, which is simply invaluable.
By far my favorite part is the first half of the book where general concepts are presented. And I'd like to stop by the concept of systemic project risk which is, to my mind, much more important than specific project risks from the project owner's standpoint. Unfortunately not every project owner acknowledge the existence of systemic risks which basically means to acknowledge his/her own weaknesses as a project manager. And this a systemic risk by itself. The approaches described to address the problem require involvement of proven experts and free will of project team and the owner, which are not always there.
There are many other interesting subject in the book. Frankly speaking I had not enough time to go through all the "technical" chapters, but I shall definitely will. So you do.
2 people found this helpful
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Amazon Customer
5.0 out of 5 stars Clearly a reference book on project risk that sets a standard
Reviewed in the United States on August 25, 2016
The book is altogether excellent and a must read in terms of project risk. It is clearly a reference handbook as it puts together a number of very interesting empirical information on project cost and schedule overruns that can be used straight away as an order of magnitude.

Some points we have particularly liked:
- The useful conceptual distinction between systemic risk (due to the organization and project setup, such as scope development, project management systems and competency etc.), project-specific risks and risk related to industry cost escalation and foreign currency exchange.
- The concept of tipping point into chaos for complex projects and the qualitative parameters to monitor in that respect.
- The historical perspective and review of existing research on large projects’ overruns

One aspect that has kept us a bit disappointed is that the book is clearly written mainly from the perspective of the Owner and during the preparatory phases of the project. While some aspects of Contractor and execution risk management are mentioned, it does not fully address the Contractor execution perspective which is complicated by interfaces with the Owner and Subcontractor.

Altogether a recommended read which hopefully will generate substantial progress in the understanding of Project Risk!
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Kul B Uppal
5.0 out of 5 stars Everyone will enjoy reading and be using this book and its practical ...
Reviewed in the United States on June 20, 2016
"Currently, no book in the marketplace addresses the question of integrated project risk analysis and quantification in a realistic way. As Mr. Hollmann makes clear, the prevalent methods fail to predict the cost and schedule overruns that frequent process and other industry projects. His book finally addresses the age-old challenge of how to realistically forecast cost and schedule accuracy while also keeping it practical. The book is comprehensive and addresses all the issues in detail along with interesting examples and anecdotes. Everyone will enjoy reading and be using this book and its practical use​!" Kul B. Uppal, Consultant, AACE Technical Director, and former Estimating/Risk lead at oil & gas majors.
6 people found this helpful
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Edward van Doorn
5.0 out of 5 stars Project Risk Quantification - a must read
Reviewed in the United States on June 20, 2016
"Working at a private equity firm that invests in mining projects, Mr. Hollmann's Project Risk Quantification text is a must read and will be my go-to-guide for many years to come. Private equity investment is all about identifying risks and how to capture these risks quantitatively. John’s book takes a smart two-part approach that lends itself perfectly to understand and implement risk quantification at any stage in the project life cycle. It is clearly and concisely written and fills a gap that currently exists in the field of risk management.” Edward van Doorn, Project Controls Manager, Resource Capital Funds.
6 people found this helpful
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Amazon Customer
5.0 out of 5 stars Tony Jervis. Director Project Services
Reviewed in the United States on July 14, 2016
The author delves into what was previously the black box of risk and contingency estimation, and step by step provides the reader with a route map, tools and techniques to deliver justifiable and defendable estimates of the range of likely economic outcomes of a project, which decision-makers can evaluate when considering capital investments.
This is a first for the industry and the author is to be congratulated on making this expose of his intellectual property available for all to use.
The author takes his many decades of practical experience and research in the field of project risk estimation and presents it in a direct and straightforward manner for all to use; an extraordinary gift to the profession.
2 people found this helpful
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1.0 out of 5 stars Reading medium
Reviewed in the United States on May 25, 2021
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The kindle book cannot be read on Kindle Cloud, Paperwhite, and other medium except for Windows PC surface. I would like to return this Kindle book and buy a paperback book.
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Bruce E. Bradley
5.0 out of 5 stars 'THE BOOK' on project risk!
Reviewed in the United States on June 22, 2016
This book is by far one of the most comprehensive compilations on project risk analysis and modeling, inclusive of interesting war stories. It is a must read for everyone who is intimately involved in identifying, managing and quantifying those risks, from the lowly cost estimator up to the senior business manager. In addition to being a practical reference, the book includes an extensive glossary and questions at the end of each chapter which make it a great training guide or textbook. Bruce E. Bradley, Estimating Manager, Global EPC Firm
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Top reviews from other countries

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Josue Leonardo Bejarano Arevalo
5.0 out of 5 stars Best methodology so far
Reviewed in Canada on May 17, 2023
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I have used this methodology for a while. It is practical and flexible to any project.
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Alexandre Freire
5.0 out of 5 stars Excelente Livro !!!
Reviewed in Brazil on April 21, 2022
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Finalmente um livro sobre construção e montagem industrial que fala de risco de forma objetiva e quantitativa. Leitura obrigatória para gerentes de projetos de capital. Excelente !!!
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Derek Thien
5.0 out of 5 stars Fantastic reference material.
Reviewed in Australia on December 5, 2021
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This has lots of useful tips for those who want to achieve maturity on the subject.
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