CTRM Program Risk Management

CTRM Program complexity is growing at a rate faster than companies can adapt, and investment portfolios are being expanded to keep up with emerging trends. 

As companies continue to look for ways to increase efficiency and reduce costs, they are undertaking significant initiatives to redesign and standardise business processes, reduce costs and improve productivity. 

These large initiatives frequently end up being technology-related projects. 

Risks associated with program management are embedded throughout the life cycle and may result in significant economic, financial, regulatory and reputational consequences for organisations if they are not properly controlled and managed. The margin for error is small, and the environment in which transformation needs to happen continues to increase in complexity. 

However, many companies have not demonstrated the ability to adapt their approach, processes, governance, controls and tools to address the complexity of these programs. 

Programmatic risks are increased due to the complexity in business processes and the emerging technology landscape such as cloud, AI, mobile and new digital technologies. 

The right assurance activities can provide forward-looking insights by proactively assessing the enterprise portfolio, program and project risks to determine the key threat risks to mitigate and opportunity risks to pursue and leverage. 

These capabilities are essential in being more competitive in the marketplace by improving the speed to business value realisation considering the programmatic and operating risk landscape.

What are some of the drivers behind disappointing Program Results


  • Relentless speed of change
  • Commodity Industry convergence and regulatory changes
  • Highly complex projects that are the drivers of benefits, but carry extraneous risk profiles


  • Limited CAPEX budget to achieve strategic objectives
  • Fixed or fewer resources to deliver value
  • Lack of forward-looking view on risk


  • Increased projects cost and time
  • Decreased benefits realisation
  • Lengthened duration and unpredictability of cost allocations (& unplanned rising costs) to achieve benefits
  • Misaligned internal control framework environment

CTRM Program Assurance that has an impact

CTRM Project management methodology

Objective: assess the program management methodology

Key Questions You Should Be Asking:

  • Has the program methodology and governance framework been established including planning and execution approach, the right team composition, monitoring and communication protocols?
  • Have controls been included in the methodology to deliver the project on time and on budget?
  • Is there a process to measure whether intended benefits were achieved?

CTRM Project and program execution

Objective: assess the execution of the program and project management

Key Questions You Should Be Asking:

  • Is there adherence to the project management methodology?
  • Is the project management office monitoring the project against the timeline?
  • Is there adequate communication among the project team members?

CTRM Project Portfolio risk review

Objective: assess the governance framework

Key Questions You Should Be Asking:

  • Has a robust portfolio management process, including demand planning, project prioritisation, funding and decision-making process been developed and implemented?
  • Is the risk assessment approach comprehensive? And does it include a process to mitigate risks?
  • Is there a process in place to respond to changing corporate objectives?

CTRM Project Process redesign review

Objective: assess processes and controls to mitigate risks associated with process redesign

Key Questions You Should Be Asking:

  • Have project team member roles been defined and communicated?
  • Is there an internal control work stream focused on identifying and mitigating risks?
  • Is the project team using automation and system controls to their full advantage?

How can we help?

Talk to us about how we can help your organisation reduce risk and apply the right levels of quality assurance. Making it real is what we do.

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About the Author

Jason Novobranec is Implementary’s Chief Operating Officer.

With over 20 years of Consulting, Program Management & Senior Leadership experience, Jason has delivered initiatives for large multi-national / multi-regional organisations as well as SME’s and is an expert in shaping solutions to fit a customer’s project needs.