Unit of competency Outline

Date retreived
22/07/2026 10:17 PM AWST

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Manage portfolio risk

Manage portfolio risk

Unit of competency
National Code
BSBPMG808
State Code
AUK53
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
15/09/2015
Field of Education
080399 - Business And Management, N.e.c.
Original Release Date
15/09/2015
Nominal Hours
55
Description
This unit describes the skills and knowledge required to manage the risks within a portfolio. It covers the identification, analysis, monitoring and control of portfolio risks.A portfolio is the centralised management of one or more portfolios of projects, which includes identifying, prioritising, authorising, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives.It applies to individuals who operate at the strategic level within the organisation. Unlike projects or programs, a portfolio does not have a finite life, instead it is a continuous process and requires regular tending to ensure the portfolio remains in balance and is consistent with the organisation’s strategic objectives.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Identify portfolio risks
  • 1.1 Establish and continuously review standards and procedures for portfolio risk management
  • 1.2 Integrate the portfolio risk management approach with organisational risk management systems and strategies
  • 1.3 Undertake analysis to determine the organisations risk appetite
  • 1.4 Seek input about risks from stakeholders, executive management and other specialists
  • 1.5 Identify external and internal threats and opportunities and assess their impact on the portfolio
2. Analyse portfolio risks
  • 2.1 Capture results from project and program risks analysis to determine overall portfolio risk profile and organisational exposure
  • 2.2 Ensure that executive management determines the level of acceptable portfolio risk
  • 2.3 Capture and review individual project/program risks on a regular basis to determine the potential impact on the organisation
  • 2.4 Audit project and program risks regularly to monitor risk management performance and assess the portfolio risk profile
3. Monitor and control portfolio risks
  • 3.1 Implement and manage organisational risk reserves
  • 3.2 Explore opportunities identified through risk analysis
  • 3.3 Actively manage portfolio risks to minimise organisational impact
No information
No information
Replaced By
State Code National Code Title Type
OCE52 BSBPMG817 Manage portfolio risk Unit of competency