Security Risks in Portfolio Management

Project managers have various sophisticated and ingenious PPM tools at their disposal today. However, many organizations are a little weary of investing in PPM tools, due to security concerns. Let us take a look at common security risks in project portfolio management, and fixes that you can use to make sure your project portfolio is safe.

Cloud

Cloud technology has become a part of most work applications. With its enhanced productivity and flexibility also comes the nagging concern of security. You want to use a trusted cloud provider, and beef up your cloud security, so cyber criminals are not able to break in and steal the data. If you are hesitant about moving project portfolios to the cloud, make sure that your data is located in data center in preferred country and it fulfills at least ISO27001-standard’s requirements.

Mobility

BYOD culture and mobility have grown popular in the modern workplace. While it gives project managers and other team members a greater flexibility, security risks also creep in. If the device in question gets stolen, it puts proprietary and confidential business information at risk. Businesses should have a remote erase option in these devices, so the data can be wiped out completely in the event of a theft.

System security flaws

If your on-site systems are not up-to-date with their security filters, then the data is vulnerable to threats. Have your IT expert carry out a security audit from time to time to fix any security flaws in your infrastructure. Even something as simple as a delayed anti-virus update can end up putting sensitive project data at risk. If the project in question has other compliance and liability constraints, then your business will be in some serious trouble. Regular security updates and maintenance can help keep such incidents at bay. Ask your IT staff about previous security goof-ups to see if the loopholes have been plugged.

Unauthorized access

Organizations need to watch how data moves in the project team, and have clear-cut norms on who has access to what data. It goes without saying that sensitive project data is to be password-protected to avoid unauthorized access, whether it is in the office or elsewhere. Make sure the project members change the password from time to time. You may also want to use encryption to add another layer of security to your project data, and keep it safe at all times.

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