Risk management in project portfolios
Risk management in project portfolios
The wiki article looks at risk management in project portfolios. It is expected to have the form of overview and summary of relevant body of knowledge. First the article describes risk management in general (maybe no general description, since "Risk" article exists) and the difference between project risk and risk shared within a portfolio of projects. What is risk? How is risk assessed in a comparable fashion across the entire project portfolio? How important is risk compared to other parameters such as strategic value of projects? What amount of risk is generally considered fair? Secondly the article aims to provide the reader with a description of multiple ways/frameworks for portfolio risk and uncertainty management. This is expected to have close links to (strategic) value management within the portfolio. Recommendations for processes should be in general terms, in order to be applicable in wide range of specific companies. Focus is on industry best practice examples of risk management within portfolios. If examples are gained from a specific sector (e.g. IT development) there should be a discussion of how it is applicable in other sectors (what parts of the method can and should be tweaked?).
Sorry for the fairly short write-up. I am still trying to get the full picture of how the article should look like. Mentally it is being build more and more with every article I read. However, the above should give an idea of the direction of my wiki article.
UPDATE: This article is expected to overlap somewhat with the "Risk" wiki article. The goal is to be more descriptive towards speciel elements/factors that are mainly relevant within risk management on portfolio level.
