What is the best way to manage risk for a program?

I understand that every program comes with positive and negative risks. Sometimes I may not foresee all the risks at inception, I like to evaluate the program's exposure to risk. I accomplish this by evaluating different projects in the program and analyzing the risks they have encountered in the past and anticipating the same or brainstorming with my team and stakeholders on potential risks. Second, I use qualitative and quantitative measures to asses the risk severity and allocate necessary measures to deal with the risk. Further, I implement the risk response plans and allocate the resposnible teams and resources . During the project I constantly monitor the risks anticipated at inception all while still communicating with stakeholders on the potential risks and response plan.