This dissertation seeks to establish a theoretical basis, and a method, for structuring risk management programs. It was motivated by the increasing number of organizations that resort to programs as means to decentralize managerial actions and increase the effectiveness of projects focusing on their strategic objectives. Despite its importance, the literature does not provide well-grounded guidelines for the practice of program risk-management. Such deficiency appears to stem from malformed concepts on various aspects of program management. The research sought to fill such conceptual gaps through a critical literature review and a survey with professionals familiar with program management. A risk classification and influence diagrams are the basic elements of the method proposed for structuring risk management. The survey indicated that some of the most critical aspects of the proposed method are well accepted by professionals.