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Fooled by randomness review5/11/2023 ![]() ![]() ![]() Fortunately, the experience and pain need not all be personal you can also learn from the experience of others, avoiding the aggravation of seeing everything first-hand. Good project management is based on experience. The expanded PERIL database serves as the basis for the book’s second edition, scheduled to be published in early 2009. This database formed the foundation for Identifying and Managing Project Risk (Kendrick, 2003), a reference book used extensively by practitioners and for project risk management courses. ![]() The analysis is based on a collection of about 650 specific project failure modes collected from all over the world over the past decade and assembled into the Project Experience Risk Information Library (PERIL) database. This paper examines some of the many causes of catastrophic project failure, dubbed by some “black swans,” seeking some of the principal sources of project risk. This becomes more and more common with the increase of project complexity, geographic distribution of project teams, and time pressures. Many projects fail for reasons that appear unlikely when they begin. ![]()
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