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This book describes philosophies, principles, practices and techniques for managing risk in projects and procurements, with a particular focus on complex or large--scale activities. The authors cover the basics of risk management in the context of project management, and outline a step--by--step approach. They then extend this approach into specialised areas of procurement (including tender evaluation, outsourcing and Public--Private Partnerships), introducing technical risk assessment tools and processes for environmental risk management. Finally they consider quantitative methods and the way they can be used in large projects. International case studies are included throughout.