Monitoring and control of portfolio risks ( Monitor and Portfolio Risks ) is one of the processes included in the discipline of project portfolio risk management according to the Project Portfolio Management Standard, aimed at ensuring effective control of portfolio uncertainty during the execution of the project portfolio.
Process steps:
- Identified Risk Tracking
- Monitoring the causes of risks and, if necessary, implementing an appropriate response plan
- Residual Risk Monitoring
- Re-analysis of existing risks
- Tracking changes among stakeholders
- Overview of risk response and simultaneous assessment of their effectiveness
- Identification, analysis and planning for emerging risks
Process inputs: portfolio management plan, portfolio risk register, report on the implementation of components, data on components. The tools and methods used within the process are portfolio risk audit, analysis of variance and trend analysis, status meetings, reassessment of portfolio risks. Process outputs: requests for portfolio changes, updated register of portfolio risks, assessment of current assets.
Portfolio risk management processes provide information that can be used later in portfolio management. Data obtained as a result of portfolio risk management can contribute to the organization’s knowledge base , this information should include data on the current impact of risks on strategic goals and the effectiveness of the response.
Literature
- The Standard for portfolio Management: Second Edition. - PMI , 2008. - ISBN 978-1-933890-53-1
- Anshin V.M., Demkin I.V., Nikonov I.M., Tsarkov I.N. Models of project portfolio management in conditions of uncertainty. - M .: MATI , 2008.
- Kendall, D.I., Rollins, S.K. Modern Methods: Project Portfolio Management and the Project Management Office .. - Peter , 2004.