Portfolio Risks, Issues, and Dependencies (RIaD)

Purpose: To provide a dedicated forum for Portfolio Leaders and key stakeholders to proactively identify, review, discuss, and plan mitigation/resolution strategies for significant risks, escalated issues, and critical dependencies impacting the delivery of the portfolio's strategic objectives. This meeting aims to ensure coordinated action and minimize potential disruptions.

Who Attends:

• Portfolio Leaders: (e.g., Heads of Portfolio, Portfolio Managers, Program Directors) - Responsible for reporting and owning RID within their respective areas.

• Key Project/Program Managers: May be invited to provide specific details on high-impact RID.

• Relevant Functional Leads: (e.g., Head of Engineering, Head of UX, Head of Infrastructure) - To contribute expertise and ownership for cross-functional RID.

• Portfolio Management Office (PMO) Representatives: To facilitate the meeting, track actions, and maintain the RID log.

• Other Stakeholders: Invited as needed based on specific agenda items.

Frequency & Duration: Fortnightly (every two weeks). Timeboxed to 60-90 minutes, depending on the volume and complexity of RID.

Facilitator: A designated member of the PMO or a rotating Portfolio Leader. The facilitator ensures the meeting stays focused, productive, and adheres to the agenda.

Agenda (Standard Template - Adaptable):

1. Review of Open Risks (20-30 minutes):

   • Action: Each Portfolio Leader (or their representative) briefly presents the status of their top high/critical risks:

     • Recap: Briefly state the risk.

     • Current Status: Any changes in likelihood or impact since the last meeting?

     • Mitigation Progress: Update on the execution of the agreed-upon mitigation plan.

     • New Risks: Briefly introduce any newly identified high/critical risks.

     • Escalations Needed: Any risks requiring portfolio-level attention or decisions.

   • Discussion: Facilitated discussion on cross-portfolio risks, potential cascading effects, and the need for coordinated mitigation strategies.

2. Review of Open Issues (20-30 minutes):

   • Action: Each Portfolio Leader (or their representative) briefly presents the status of their top escalated/high-impact issues:

     • Recap: Briefly state the issue.

     • Current Status: Progress on resolution efforts.

     • Blockers: Any impediments to resolving the issue.

     • Impact: Current and potential impact on portfolio delivery.

     • Escalations Needed: Any issues requiring portfolio-level decisions or support.

   • Discussion: Facilitated discussion on cross-portfolio impact of issues, resource allocation for resolution, and potential learnings.

3. Review of Open Dependencies (15-25 minutes):

   • Action: Each Portfolio Leader (or their representative) provides updates on critical cross-portfolio dependencies:

     • Recap: Briefly state the dependency (what, on whom).

     • Current Status: Is the dependent item on track? Any potential delays?

     • Impact of Delays: What is the potential impact on the downstream portfolio?

     • Mitigation/Contingency: Any plans in place to mitigate potential delays.

   • Discussion: Facilitated discussion on aligning timelines, resolving conflicts, and ensuring proactive communication around dependencies.

4. New Risks, Issues, and Dependencies (5-10 minutes):

   • Action: Opportunity for Portfolio Leaders to briefly raise any new high/critical risks, escalated issues, or cross-portfolio dependencies that weren't covered in the updates.

5. Action Items and Decisions (5-10 minutes):

   • Action: Review action items from the previous meeting.

   • Action: Clearly document any new action items, owners, and due dates.

   • Action: Record any key decisions made during the meeting.

6. Wrap-up and Next Steps (5 minutes):

   • Action: Facilitator summarizes key takeaways and confirms action item owners and due dates.

   • Action: Briefly preview any specific topics for the next meeting.

Facilitator Responsibilities:

• Schedule and Communicate: Ensure the meeting is scheduled and the agenda is distributed in advance.

• Time Management: Strictly adhere to the timebox for each agenda item.

• Focus the Discussion: Keep the conversation focused on portfolio-level impacts and cross-portfolio concerns.

• Encourage Participation: Ensure all Portfolio Leaders and relevant attendees have an opportunity to contribute.

• Capture Actions and Decisions: Clearly document all action items, owners, and due dates.

• Follow Up: Ensure action items are tracked and progress is reported in subsequent meetings.

• Maintain the RID Log: Ensure the central Portfolio RID log is updated with information discussed in the meeting.

Tips for Success:

• Come Prepared: Portfolio Leaders should have a concise summary of their key RID to present.

• Focus on High Impact: Prioritize discussion on risks, issues, and dependencies with the greatest potential to impact portfolio delivery.

• Be Action-Oriented: The goal is to identify and plan actions to mitigate risks and resolve issues.

• Be Transparent and Honest: Openly communicate challenges and potential roadblocks.

• Collaborate and Problem-Solve: Work together to find solutions for cross-portfolio RID.

• Use a Central RID Log: Maintain a central repository for all identified risks, issues, and dependencies, including status, owners, and mitigation/resolution plans. Refer to this log during the meeting.

• Escalate Appropriately: Use this forum to escalate RID that require leadership attention or cross-functional support.

• Regularly Review Effectiveness: Periodically assess if the meeting format and content are effective and make adjustments as needed.

What to Avoid:

• Detailed Project-Level Discussion: Keep the focus at the portfolio level. Project-specific details should be managed within individual project teams.

• Blaming or Finger-Pointing: Focus on identifying and resolving problems collaboratively.

• Ignoring Dependencies: Proactively address dependencies to avoid delays and bottlenecks.

• Lack of Follow-Through: Ensure action items are completed by their owners.

• Canceling the Meeting Regularly: Consistency is key to proactive RID management.

Outcome of a Successful Portfolio RID Meeting:

• Shared understanding of the key risks, issues, and dependencies impacting the portfolio.

• Proactive identification and discussion of potential threats and roadblocks.

• Coordinated action planning for mitigation and resolution.

• Improved communication and collaboration across portfolio teams and functional areas.

• Reduced likelihood of significant disruptions to portfolio delivery.

• Enhanced transparency and accountability for managing RID.