PFMP Online Practice Questions and Answers

starting with the business unit you lead, which is responsible for new products, and then will set the stage to implement it throughout the bank, including at the enterprise level. You have executive support and commitment to implement it in your business unit. A key first step is to:

A. Set up a governance structure

B. Define roles and responsibilities for implementation

C. Prepare a portfolio performance plan

D. Prioritize the work to be done

As part of developing the Communication Management Plan, a portfolio manager executes the Communication Requirements Analysis, in addition to Stakeholders Analysis. Which of the following options in your opinion is a result of the Stakeholders Analysis?

A. All of the options

B. Communication Matrix

C. Communication Strategy matrix

D. Elicitation technique

comes to this type of organizations, which of the following statements is true?

A. Human Resources should be fixed and work should be allocated based on the capacity and capability

B. Resource Supply is continuously adjusted through permanent and temporary resources

C. Projects that align with strategic objectives should be initiated even if the ROI is negligible

D. All incoming projects and customers' requests should be accepted and resources should be supplied whether permanently or temporarily

A key role for portfolio management is to balance the use of resources following the need against the existing skill-set. One of the component managers told you that an important SME on his program is traveling and there is no replacement for her. This will cause a major delay in the program. What is your first step as a portfolio manager?

A. Do interdependency management and see the impact

B. Send a broadcast report to all components informing them of the issue

C. Ask him to do a quick recruitment and hire someone to solve the issues

D. Tell him that he needs to find out a solution and that you will be ready for any assistance needed

The Scenario Analysis is used twice as a tool and technique, once while developing the charter and another time while managing Supply and Demand (It also exists as part of the quantitative and qualitative analysis as part of the optimize Portfolio process). When it comes to Manage Supply and Demand, which of the following represents a correct description of the Scenario Analysis?

A. All of the Options

B. Helps differentiate between the resources capability and capacity

C. Helps determine various possibilities of resource allocations and the impact to component schedules

D. Enables decision makers to create a variety of portfolio scenarios using different combinations of both potential components and current components

Your company has multiple portfolios on the way and a variety of different clients and industries. Risk levels are high due to recent governmental regulations and the company has recently been penalized due to a non-compliance to one of the standards. You know that you need to closely managing this. As a result, you will be come out with

A. Portfolio Management Plan updates, Portfolio updates, Portfolio Reports, Enterprise Environmental Factors updates

B. Portfolio Management Plan updates, Organizational Process Assets updates, Portfolio Process Assets updates, Portfolio updates

C. Portfolio Management Plan updates, Organizational Process Assets updates, Portfolio Reports, Enterprise Environmental Factors updates

D. Portfolio Management Plan updates, Organizational Process Assets updates, Portfolio Process Assets updates, Portfolio Reports

In a portfolio, data is an abundant asset, and managing the information aiming for a better decision making is critical. Which of the following help you with managing the portfolio value?

A. PMIS, Elicitation techniques, Communication Requirements Analysis, Communications Methods

B. Elicitation techniques, Capability and Capacity Analysis, PMIS

C. Elicitation techniques, Communication Requirements Analysis, Stakeholder analysis

D. Scenario Analysis, Capability and Capacity Analysis, Quantitative and Qualitative

You are managing a portfolio for a major car dealer in the region and due to diversity of locations, funding terms and your client's corporate structure, you have a big number of components to be included in the portfolio. With such a huge number, you need to prioritize the components in order to prepare the mix of components to execute. Where can you find the prioritization model?

A. Portfolio Strategic Plan

B. Portfolio Charter

C. Portfolio Roadmap

D. Portfolio Risk Management Plan

You have been managing multiple portfolios in your company for the past two decades and all deliveries were successful. A new portfolio manager is struggling and came to you for advice on the portfolio process groups. He knows that portfolio process groups are the base of portfolio management. While you explain to him about them, you told him that portfolio process groups are independent of

A. Business and Strategic Objectives

B. Application Areas and Industry Focus

C. Budget

D. Human Resources

Each time a strategic change occurs, it requires a number of updates, and it includes the need to update the portfolio process assets including:

A. Timelines

B. Prioritization model

C. Lessons learned

D. Communication requirements

You are working to optimize your portfolio and determine a priority list of components to pursue. In your product development company, of the triple constraints, quality and scope dominate. This does not imply that schedule and budget are not important, but since the company requires regulatory approval for its products, quality dominates the company. Quality goals that are too low may lead to end-user dissatisfaction; however, goals that are too high may be too costly to the company. Therefore it is important to consider:

A. Market analysis

B. The value proposition

C. Cash-flow requirements

D. Risk analysis and assessment

You are managing a complex portfolio with high risk levels due to emerging technological breakthroughs and a short benefit window to market your product. The Portfolio Process Assets are important and referenced throughout the portfolio life cycle. Which of the following is correct regarding the Portfolio Process Assets purpose and focus?

A. Forecasts how and when the portfolio will deliver value to the organization

B. High-level prioritization mapping of the portfolio

C. Can be used to influence the portfolio's success

D. Corresponds to the means to the "to-be" vision

Your company has had a portfolio management process in place for five years at the enterprise level, in its business units, and even in its complex programs. This year the company's Center for Excellence received an award for its work in this area from PMI? As the Portfolio Manager, you have predefined metrics in place, which are critical because:

A. They show transparency at all levels

B. They provide stakeholders with critical information on the health of the portfolio

C. They show the link of each initiative to the company's strategic goals

D. They provide insight into the processes being used

You are currently creating portfolio scenarios (what-if analysis) by reviewing components against prioritization criteria and using analysis techniques (e.g., options analysis, risk analysis, SWOT analysis, financial analysis). You are doing this in order to

A. Understand the strategic priorities

B. Create a basis for decision making

C. Evaluate and select viable options

D. Provide a guiding framework to operationalize the organizational strategic goals and objectives

One key artifact to review as the portfolio communications management plan is prepared is the:

A. Portfolio management plan as it shows all elements in it have communications requirements

B. Portfolio performance plan as it sets forth needed reports and their frequency

C. Portfolio strategic plan since it shows the need for strategic alignment

D. Portfolio benefits realization plan to determine reports on progress in benefit realization, transition, and sustainment