Hello everyone! I'm defining a Portfolio Risk Management in my Company, but I'am new at the topic and I have some doubts. Anyone has done it before and can help me?
I really would like to know some example of "project portfolio metrics", only by using information in SAP System.
According to my current idea, there are two possibilities to obtain a project portfolio risk overview:
1. Doing Project Risk Management on each of the projects on portfolio (but if you have a high number of projects, it is quite difficult..)
2. Define a portfolio risks metrics and do Project Risk Management on the most "relevant projects".
My question: Example of metrics for overall portfolio risks (without making risk management on each projects?
I'm looking forward to read your answeres.
Teresa Saving Changes...
Hi! Thank you for your answer! I've already read the document and I have understood how a good Portfolio Management should be, but what I tried to obtain with my question are some examples, I have no so much experience and most of the time "theory" is so far from the reality I face, so "practical examples" may could help me :)
Saving Changes...
Vladimir LiberzonR&D Director| Spider Project TeamMoscow, Russian Federation
Al TaylorI.T. Contractor| IndependentWaterloo, Ontario, Canada
good discussion.....Teresa I am not sure degree of difficulty is justification for not doing RM on all of the projects....they must be unique in some way therefore there could be unique risks Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
Portfolio is not about projects at least you are talking about project portfolio. That´s is critical to understand because portfolio exceeds to project and programs and project portfolios. So, creating risks for company portfolios is an activity that must be than with enough level of abstraction to instantiate it into project portfolio risks. Saving Changes...
Mahesha PanditCTO| Rhytify Technologies Private LimitedBangalore, Karnataka, India
Hello Teresa:
You can derive many metrics for your portfolio depending on your need. For example:
(1) Number of risky projects - a simple measure
(2) Number of cross-project risks - those risks that are capable of causing risks in other projects
(3) Depth of related risks tree - if you have (2), then you can estimate how deep a risk trigger could go
etc.
I understand that some project risks could also be portfolio level risks. But, the PM has to ensure success of each projects. Therefore, I don't think that there is a way out of risk assessment for each project within the portfolio. Saving Changes...
Hi! Thank you for your answer! I've already read the document and I have understood how a good Portfolio Management should be, but what I tried to obtain with my question are some examples, I have no so much experience and most of the time "theory" is so far from the reality I face, so "practical examples" may could help me :)
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1 reply by Kiron Bondale
Mar 05, 2020 8:28 AM
Kiron Bondale
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I'd suggest starting simple and tackling this at two levels:
1. Elevate critical risks from individual projects & programs for visibility at the portfolio level.
2. Add cross-portfolio risks such as change management risks of concurrent projects having "go lives" all around the same time, the financial impact of failure to multiple projects, and cross-business risks (i.e. projects - operations and operations - projects).
Does your company have an established enterprise risk committee? I served on one when I led the EPMO for a government agency and we had leaders from each major division who'd share the risks in their areas and I'd present the risks from our portfolio to their areas.
Hi! Thank you for your answer! I've already read the document and I have understood how a good Portfolio Management should be, but what I tried to obtain with my question are some examples, I have no so much experience and most of the time "theory" is so far from the reality I face, so "practical examples" may could help me :)
I'd suggest starting simple and tackling this at two levels:
1. Elevate critical risks from individual projects & programs for visibility at the portfolio level.
2. Add cross-portfolio risks such as change management risks of concurrent projects having "go lives" all around the same time, the financial impact of failure to multiple projects, and cross-business risks (i.e. projects - operations and operations - projects).
Does your company have an established enterprise risk committee? I served on one when I led the EPMO for a government agency and we had leaders from each major division who'd share the risks in their areas and I'd present the risks from our portfolio to their areas.
Manuel PerezProject Management Coordinator| Las Vegas Valley Water DistrictNorth Las Vegas, Nv, United States
I am developing the risk management process using Oracle Primavera Cloud (OPC). Oracle integrated Primavera Risk Analysis in this product. You can call the risk level at the portfolio level but the risk analysis is done at the project level. My approach is to create risk templates by project type to quickly and easily apply the template to the project. Only minor adjustments that are unique to a project need be made before running the analysis.
The key to developing a risk management process is that you must have enough data to identify risks, actions, probability of occurrence, cost and time impact probabilities, etc. A lot of the data can come from subject matter experts, field engineers, and project managers. Saving Changes...
