---
ref_id: REF-22
ref_type: Companion
ref_index: 22
shortcode: Risk-PPP
name: Risk Management in Portfolios, Programs, and Projects — A Practice Guide
status: Active
version: "1.0.0"
file_path: "reference/companion-references/REF-22.md"
pmbok8_source: "PMBOK8 Guide §2.7 (Risk Performance Domain) · Processes PR27–PR32"
last_updated: "2026-06-03"
---

# REF-22 — Risk Management in Portfolios, Programs, and Projects
**Shortcode:** Risk-PPP  
**Publisher:** Project Management Institute (PMI), 2024  
**Authority:** PMBOK8 Companion — Risk Management Across All Delivery Tiers  
**Version:** 1.0.0 · **Status:** Active

## Full Bibliographic Citation
Project Management Institute. (2024). *Risk Management in Portfolios, Programs, and Projects: A Practice Guide*. Project Management Institute. Official release: https://www.pmi.org/standards/risk-management-in-portfolios

## What This Reference Adds Beyond PMBOK 8
This guide extends PMBOK 8's project-level risk management framework to portfolio and program risk — covering enterprise risk appetite, risk aggregation across a portfolio, and how risk decisions at one level affect the others. For project practitioners, it provides an updated risk taxonomy, quantitative risk analysis techniques (Monte Carlo, sensitivity analysis, decision trees), and risk-informed decision-making tools that are more current than earlier PMI risk guidance.

## PMBOK 8 Domain and Principle Coverage

| PMBOK 8 Element | Risk-PPP Contribution |
|---|---|
| Risk Performance Domain (§2.7) | Full risk process implementation: identification, qualitative/quantitative analysis, response, monitoring |
| Finance Performance Domain (§2.4) | Reserve analysis and contingency/management reserve calculation methods |
| Governance Performance Domain (§2.1) | Risk escalation governance, risk tolerance thresholds, and reserve authority |
| P1 — Adopt a Holistic View | Portfolio-level risk aggregation requires a holistic cross-project view |

## PMOSkills Artifact and Skill Connections

| Item | Connection |
|---|---|
| A19 — Risk Management Record | Risk-PPP is the primary authority for all risk identification and response content in A19 |
| A20 — Quantitative Risk and Reserve Record | Quantitative risk analysis methods from this guide populate A20 |
| SKL-03-11 — Identify and Analyze Risks | Risk-PPP identification and qualitative analysis techniques apply here |
| SKL-03-12 — Plan Risk Responses | Risk response strategy taxonomy from this guide informs this skill |
| SKL-04-08 — Implement Risk Responses | Risk-PPP monitoring and response adaptation applies during execution |

---
*Authority: PMI Risk Management in PPP (2024) · PMBOK8 §2.7*  
*Repository: https://github.com/fakhruldeen/PMOSkills*
