Portfolio Risk Management
Taking project risk management to the next level
Taking project risk management to the next level
Organisations usually establish a programme to bring together an inter-related set of both projects and business as usual activities. Together these deliver the outcomes needed to realise the strategically important benefits for the sponsor. For example, building the Athletes Village for the London 2012 Olympics.
Programmes are different from a portfolio of programmes, stand-alone projects and other initiatives that are similar. For example, pharmaceutical companies frequently group their drug discovery activities into therapeutic areas e.g. cardio-vascular disease or cancer.
With the right organisational structure and software in place, you can view, monitor and manage risks across all projects at programme level.
”Using a programme-wide, multi user, system is essential to push risk management to those that are best placed to manage the risk. On a programme of many large projects this is the only way to both have risks managed at project level and to have visibility and support at the highest levels of the programme organisation. Without this level of control, the recording and management of risk varies between projects in the programme, rendering a strategic view of risk difficult or impossible.
Mike Gladwin, Programme Risk Manager, Doha Expressway