Program Risk Management involves risks that are common to cluster of projects, programs, or business units. The types of risks managed at this level impact the funding and allocation of resources to optimize program outcomes, as well as resource limitations and cost uncertainties that impact many projects at once. These risks could affect performance of major programs such as pavements, bridges, maintenance, information technology, project delivery, and finance. A key component of Program Risk Management is engaging the right people across the organizational structure.

Sustaining a Program Risk Management Practice requires ongoing collaboration to adapt and learn from realized risks and their impacts. Additionally, sustaining the practice requires the ability to openly communicate risks across individual programs.