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

FeatureProject Portfolio ManagementAdvanced RiskBoth applications together
Project risk assessment Yes No Yes
Elevating to enterprise risk No No Yes
Assessing inherent and residual risks Yes Yes Yes
Integrated project and enterprise risk registers No No Yes
Risk heatmaps No Yes Yes
Enterprise project risk overview dashboard No No Yes

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.

Figure 1. The Project Portfolio Management and Advanced Risk workflow

Advanced Risk Assessment with Project Portfolio Management Workflow

In this workflow:

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.