“It only takes one bad project to wipe out the profitability of all projects in our portfolio.”
Portfolio Risk Management is more difficult and different from Project or Program Management due to the inherent inconsistency of projects. The formula to make one project successful isn’t necessarily what will work on another project. Individual project managers often use their own spreadsheets and processes for communicating risks, issues and opportunities, creating chaos at the portfolio level. Whether you are responsible for a portfolio of projects in a division of a multinational organization or are responsible for all capital projects across the entire enterprise, consistency in how you identify, analyse, control, monitor, improve and report on risks is critical.
Profit from Superior Portfolio Risk Management
Active Risk Manager (ARM) eliminates risk information silos and improves data consistency and accuracy across all projects. You will have visibility of risks that threaten project delivery across your entire portfolio before they become delayed. You will avoid surprises by getting real-time visibility into emerging concerns and help the organization to mobilize its resources in priority order. ARM is the first web-based enterprise risk management software solution that delivers simple interfaces for each project team to identify and analyse risks. ARM’s capabilities include:
- Spreadsheet-like interfaces that allow for rapid data entry of risks across the portfolio
- Risk register organized by project to build portfolio-level risk reports across multiple projects and geographies
- Automated e-mail alerts that proactively warn you of upcoming threats
- Rich, graphical reporting helping your organization to visualize risks and prioritize mitigation efforts
- Knowledgebase of risk handling plans, root cause classifications and consistent codes all ensure you have an “apples to apples” comparison across multiple projects
Organizations that manage portfolio risk greatly benefit from Enterprise Risk Management (ERM) software that focuses on the collection and analysis of risks across multiple projects. Different from compliance-based GRC solutions that exclusively focus on what has happened in the past, ARM is proactive – helping to ensure that emerging risks don’t become costly delays that degrade profitability. ARM means you’ll deliver more projects on-time, on-budget and win more business as a result.