I can't verify that latitude is the same as Portra 160; I don't know.
But with Porta 160, our studio chain regularly had studios botch their settings and overexpose 100 ft rolls of film by 4 and 5 f-stops. They all printed ok, but it killed the productivity of the expensive printing machines - print exposures near 10 times longer. At 5 stops over, there was a difference in the "look" of the prints, but customers wouldn't notice anything. In our (extensive) testing, we found that UNDER-exposure of more than 1 stop was a problem - the areas that should have printed as "black" were slightly lighter and appeared grainy. Now, if we had dark complexion subjects, these had less leeway on the underexposed side, perhaps only a half stop.
These shots were with full tonal range studio portraits. If your subject has a more limited tonal range, then the exposure latitude is wider. Note that I'm only looking at color rendition, not sharpness, etc.