Identifying and Managing Project Risk, 2nd Edition

Chapter 13

Program, Portfolio, and Enterprise Risk Management

“There are risks and costs to a program of action.But they are far less than the long-range risksand costs of comfortable inaction.”—JOHN F. KENNEDY

The future, for any organization, requires action and entails risk. The subject of this book, project risk management, is a useful starting point for managing risk, but it will rarely be sufficient. Projects are always part of something larger. Programs are made up of projects, so program risk management relies on project risk management, among other things. Project portfolios are made up of projects and may also include programs, so portfolio risk management also depends on project risk management. Enterprise risk management includes ...