Elements and Performance Criteria
- Identify portfolio risks
- Establish and continuously review standards and procedures for portfolio risk management
- Integrate the portfolio risk management approach with organisational risk management systems and strategies
- Undertake analysis to determine the organisations risk appetite
- Seek input about risks from stakeholders, executive management and other specialists
- Identify external and internal threats and opportunities and assess their impact on the portfolio
- Analyse portfolio risks
- Capture results from project and program risks analysis to determine overall portfolio risk profile and organisational exposure
- Ensure that executive management determines the level of acceptable portfolio risk
- Capture and review individual project/program risks on a regular basis to determine the potential impact on the organisation
- Audit project and program risks regularly to monitor risk management performance and assess the portfolio risk profile
- Monitor and control portfolio risks