Improve visibility into organizational risk exposure with advanced project risk assessment

With advanced risk assessment for your projects, you can easily identify if any projects pose potential organizational risks and quickly decide on mitigating actions. Combine project risk management with enterprise risk management and get better visibility into your organization's overall risk exposure.

Combined benefits of integrating Project Portfolio Management with Advanced Risk

Feature	Project Portfolio Management	Advanced Risk	Both applications together
Project risk assessment
Elevating to enterprise risk
Assessing inherent and residual risks
Integrated project and enterprise risk registers
Risk heatmaps
Enterprise project risk overview dashboard

Workflow of advanced project risk assessment

Use Project Portfolio Management (PPM) and Advanced Risk Assessment (ARA) together for these benefits:

• Monitor your risk exposure at the organization level
• Integrate your risk management system for both project and enterprise risk teams.

The following figure shows an example workflow of how a project manager, risk specialist, and enterprise risk manager use the applications together to assess and mitigate risks both at the project and enterprise level.

그림 1. The Project Portfolio Management and Advanced Risk workflow

In this workflow:

1. The project manager creates risks from the standard library for the project and then initiates the risk assessment.
2. The risk specialist assesses the risk and gives it an assessment score.
3. If the risk score is high, the project manager elevates the risk as an enterprise risk.
4. The enterprise risk manager assesses the risk from the enterprise perspective and gives it an assessment score.
5. Based on the risk score, the project manager can convert the risk into an issue.
6. The project manager and enterprise risk manager use risk heatmaps and risk overview dashboards to monitor risks and understand the overall risk posture of the organization.

Requirements for Project Portfolio Management and Advanced Risk integration

1. Activate the Project Portfolio Management plugin [com.snc.financial_planning_pmo].
2. Install the GRC: Advanced Risk application from the ServiceNow® Store.

Get started with advanced project risk assessment

To get started with assessing your project risks, follow these steps:

1. Setup and configure the risk assessment methodology. See Configure Project Portfolio Management and Advanced Risk integration.

   Role: sn_risk.admin.

2. Define scope and initiate risk assessment. See Add risks for a project.

   Role: it_project_manager.

3. Perform risk assessment. See Perform risk assessment.

   Role: sn_grc.business_user.

4. Assess and elevate to project risk. See Elevate a project risk to enterprise risk.

   Role: it_project_manager.

5. Convert risk to issue and monitor security posture. See Monitor risk posture.

   Role: sn_risk.admin, it_project_manager.