Manage Risks
A five slides presentation from the
Team at Portfolio Software

Manage Risks
Document your risks
1. Don’t memorise your risks, write them down
and know where they are
2. Make your risks visible to others, don’t hide
them away
3. A risk is something that could happen that, if it
did would have an impact on you. An issue is
something that has happened (don’t mix the
two)
4. Ensure your highest priority risks are most
visible.
5. Each risk should have an owner, a priority and
some form of mitigation at a minimum

Manage Risks
Monitor your risks regularly
1. Don’t just record and forget, risks change and
you need to be ready for it
2. Put somebody in charge of each risk. Don’t put
one person in charge of all risks, get ownership
and responsibility
3. Never assume a risk has not changed since it
was written
4. Your low impact risk could be somebody else’s
show-stopper so monitor everybody’s risks not
just your own
5. Schedule risk reviews, 10 minutes a week is
not much to ask

Manage Risks
Prioritise your risks
1. Risk likelihood is the definition of the likelihood
of the risk actually becoming a reality
2. Risk impact is the definition of the impact on
you if the risk becomes a reality
3. A high Impact but very low likelihood needs a
different priority to a very low impact but very
high likelihood. One will hurt, the other will
devastate
4. Decide how much insurance you are willing to
pay for something that may or not happen
5. Priorities change, so keep checking

Manage Risks
Mitigate where possible
1. Mitigation are possible solutions to the ‘what-if’s’
the risk is the ‘what-if’
2. Be realistic but be thorough, planning now will
save you time when you most need it
3. It’s ok not to mitigate but be clear that it is a
conscious decision not to do it rather than an
area waiting to be completed
4. Don’t copy/paste from previous projects, paste
yes, but review and update.... Things really do
change
5. Outside influences affect your mitigation, thing
both inside and outside your organisation, risks
are not just internal, neither are solutions.

Manage Risks
Keep adding new risks
1. Risks change, get into the habit of adding new ones
as they are identified
2. Don’t duplicate, embellish existing risks and re-
assess. Clear list of 50 is much easier to manage
than a fluffy list of 500
3. The responsibility for identifying risks lies with
everybody, not one person. Give access to those
who can contribute
4. Publish changes to your risk register, a new risk
may impact others too
5. Don’t consider a risk register a chore, it is part of
management and is an instrument for protecting
you, your company and your assets. Protect it and
use it wisely.

Portfolio Software was formed in 2002
We deliver great software solutions - you won't get what you
expect from Portfolio Software. You'll get more.
We take a different approach to software development, blending the strengths of
best practices and methodologies - not just limiting our options to one. Our long-
range vision focuses on your immediate needs first, developing a solution and a
roadmap for future expansion.
We work successfully with distributed teams - we recognise that
the world is flat
We are well versed with delivering solutions with teams distributed across 5
continents. We recognise the need, mitigate the risks and embrace the complexity.
We use industry standard processes - successful Delivery of Your
Solution is our Prime Directive
Whether Agile or Waterfall, we pick the best method and process for the delivery of
your solution. We manage the full lifecycle and have an open and transparent
working policy which means we keep you with us every step of the way.
Contact us:
Tel: +44(0)845 644 7855
Email: info@portfoliosoftware.co.uk