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Managing the Unknown: A New Approach to Managing High Uncertainty and Risk in Projects, by Christoph H. Loch, Arnoud DeMeyer, Michael Pich
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Managing the Unknown offers a new way of looking at the problem of managing projects in novel and unknown environments. From Europe's leading business school, this book shows how to manage two fundamental approaches that, in combination, offer the possibility of coping with unforeseen influences that inevitably arise in novel projects:
* Trial-and-Error Learning allows for redefining the plan and the project as the project unfolds
* Selectionism pursues multiple, independent trials in order to pick the best one at the end
Managing the Unknown offers expert guidelines to the specific project mindsets, infrastructures, and management methods required to use these project management approaches and achieve success in spite of unforeseen obstacles. This book equips readers with:
* Causal explanations of why unforeseeable factors in novel projects make traditional project planning and project risk management insufficient
* Directly applicable management tools that help managers to guide novel and high-uncertainty projects
* Real-world case studies of both successful and unsuccessful approaches to managing high uncertainty in novel projects
- Sales Rank: #1634107 in Books
- Published on: 2006-03-10
- Original language: English
- Number of items: 1
- Dimensions: 9.55" h x .85" w x 6.40" l,
- Binding: Hardcover
- 304 pages
Review
"Managing the Unknown, is an important book, and it was a revelation for me. It takes a fresh look at project risk management, which is a vital skill in developing a new product, but goes beyond conventional risk management in critical ways." (Journal of Product Innovation Management, October 2006)
From the Back Cover
Managing the Unknown offers a new way of looking at the problem of managing projects in novel and unknown environments. From Europe's leading business school, this book shows how to manage two fundamental approaches that, in combination, offer the possibility of coping with unforeseen influences that inevitably arise in novel projects:
- Trial-and-Error Learning allows for redefining the plan and the project as the project unfolds
- Selectionism pursues multiple, independent trials in order to pick the best one at the end
Managing the Unknown offers expert guidelines to the specific project mindsets, infrastructures, and management methods required to use these project management approaches and achieve success in spite of unforeseen obstacles. This book equips readers with:
- Causal explanations of why unforeseeable factors in novel projects make traditional project planning and project risk management insufficient
- Directly applicable management tools that help managers to guide novel and high-uncertainty projects
- Real-world case studies of both successful and unsuccessful approaches to managing high uncertainty in novel projects
About the Author
Dr. Christoph H. Loch, Dr. Arnoud DeMeyer, Dr. Michael T. Pich, Department of Technology Management, ISEAD, Fontainebleu, FRANCE
The authors are professors at Europe’s leading business school – INSEAD. All have been in both the private sector and in academia and all are currently involved in teaching project management, strategic management, and technology management.
Most helpful customer reviews
0 of 0 people found the following review helpful.
A great reference for a subject that is not well understood
By Matthew S Walker
There are not many good references out there covering the management of Uncertainty and Risk.
This is by far the best one I've found. Sure there are a few reasonable papers in journals, but this book provides a full and comprehensive coverage of the subject. If you are a technical project manager developing high risk technology this is an essential read.
regards,
Matthew
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