The title of this book is a little misleading, as the subject matter is broader than the title indicates. My initial expectation was that the model would focus on the maturity of the project risk approach, but it quickly became clear that it addresses the more fundamental issue of the risk to an organisation arising from the way in which projects are executed and embedded in the broader management processes.
There are three sections to the work: a fairly heavyweight introduction to the history, derivation and context of the model; a detailed companion to the multiple choice questions which make up the model; and a CD containing the model itself.
The style of the introduction tends towards dense academic text, with a fairly large number of external and forward cross-references, which makes this section a difficult read for someone who is not already familiar with the underlying material and underlines the need for a user of the model to have a good grasp of the theory of risk management. The case studies in this section assume a level of familiarity with statistical and accounting techniques, particularly net present value and probability distribution. Given that the roots of the model are in large-scale public procurement initiatives, the use of reliance on these techniques is unsurprising.
The second section of the book is more accessible, being a detailed walkthrough of the questions which make up the model. The text is less dense, and the level of explanations is aimed at a less experienced readership. Embedded in the question descriptions are a number of mini-lessons on areas of risk such as bias towards optimistic estimating, cultures where process is valued over delivery, and remediation action.
The two main sections are followed by several appendices, the first three of which summarise the theory and context on which the model is based. The last appendix provides instructions for installing and running the model. The model itself is straightforward, being based on 50 multiple choice questions. When these are completed, a graph is generated, to show the level of maturity in each of six categories, with a click through to case studies for each category. Tabs are provided to allow comparison of results when the model is completed by different individuals, and there are buttons to enable notes to be appended and to generate a Turnbull compliance report. These functions have been disabled in the CD which comes with the book, which could be a source of annoyance to a reader who buys a work which Amazon prices at over £50, only to find that additional consultancy is needed to unlock the full model.
This work will remain on my bookshelf, festooned with stickers marking several sections which I found useful and informative. It will come in to play should I work with Qinetiq on a Project Risk Maturity exercise which uses the model. That is the stated purpose of the book, and that is the context in which it should be used. For someone wanting to learn about maturity modelling in a risk context, a number of other works referenced by the book provide more effective entry points.
The Project Risk Maturity Model
Author: Martin Hopkinson
Publisher: Gower (learn more about discounts at the Arras People Gower page)
Size: 250 pages
