Assume you completed your portfolio performance management plan, and it was approved by the Oversight Committee. This plan, with an overall purpose to maximize portfolio performance, describes resource allocation and resource-related issues among other items. In it a key component is benefits realization. This emphasis on benefits planning provides:
A. Examples for templates for benefits realization planning
B. Methods to evaluate the expected net benefits
C. An approach focusing on continuous improvement in overall performance
D. Methods to assist in benefit identification
Optimizing the portfolio is a major recurring process that the portfolio manager performs throughout the portfolio life cycle in order to balance the mix of portfolio components. During this process, the portfolio manager uses a number of graphical analytical methods to help him ease the process. Which of the following is not a graphical analytical method used in this process?
A. Pie Charts
B. None of the options
C. Risk vs. Return charts
D. Histograms
Being a portfolio manager, you realize that defining value differs among organizations based on the type of organization and its strategic goals and objectives. However, you know a value measurement framework is helpful as it:
A. Compares expected value across components
B. Shows value in terms of tangible benefits
C. Indicates how to best weight and score a component to authorize it
D. Sets a baseline for a component's expected value
It is critical in portfolio management to focus on 'doing the right work'. This means stakeholder expectations and effective management of these expectations are essential. The primary conduit between the component managers and the other portfolio stakeholders is the:
A. Program or project sponsor
B. Portfolio manager
C. Chairperson of the Portfolio Review Board
D. Secretary of the Portfolio Review Board
Assume you are working in the Joint Forces Command in your country. In this agency, all of the defense agencies are consolidated for better collaboration to support troops working around the world. Each program or project tends to have more than one sponsor, and since each Command is represented in this
agency, the same is true for the portfolio. These sponsors are listed in the:
A. Governance plan
B. Portfolio charter
C. Portfolio performance plan
D. Portfolio Review Board charter
Your company's new CEO has set an aggressive target and informed everyone that the target needs to be met by all means in order for the company to be able to realize benefits and avoid bankruptcy. What is the best management approach that the portfolio manager should take in this case?
A. Directing
B. Advising
C. Leading
D. Supporting
You are managing a complex portfolio with high risk levels due to emerging technological breakthroughs and a short benefit window to market your product. You know that managing risk is key to success and you continuously report risks and issues to stakeholders. One of the key stakeholders is furious as he cannot find an issue that has occurred a week ago in the risk register. What should you do in this case?
A. Inform the stakeholder that risk that have occurred are removed from the risk register and not used anywhere else
B. Inform the stakeholder that issues are risks that have occurred and are tracked as part of the issue register
C. Inform the stakeholder that you will directly fix this and include it in the risk register
D. Inform the stakeholder that when positive risks occur they become realized opportunities and when negative risks occur they become realized threats
You have been a successful program manager for many years in your State Department of Agriculture. During this time, you managed large programs, and some had major risks to mitigate especially in the information systems area as new software would be released that was commercially available, and you knew it would then enhance the benefits to your customers if you acquired it. You were the first in the Department to get your PfMP, and it led to a promotion to become the first portfolio manager. After a year in this position, you find managing risks and issues to be totally different because:
A. You must focus attention on external, political risks
B. You are concentrating more on long-term initiatives
C. Your focus is on determining the risk tolerances of stakeholders, both internal and external
D. You emphasize strategic fitness of the portfolio
Programs and projects in your company, one of the largest banks in the world, are required to submit metrics as to their individual progress each month. To simplify the collection and reporting process, you held interviews with members of the Portfolio Review Board to see their areas of greatest interest and also with program and project managers to determine how difficult it would be to collect the data. You then selected 10 possible metrics to the Board, with a goal that five would be regularly reported. It is important to note that:
A. Quantitative metrics are preferable
B. The value is realized when components are used
C. Customer satisfaction is the most important goal
D. If components have interdependencies with other components, their metrics should be reported as a group
Your organization, given the economic downturn in your country, decided to reduce its staff by 90% and outsource all operational activities including those of program and project managers and their teams. It has, however, retained the portfolio manager, and it has a Portfolio Review Board comprised of senior executives that meets monthly. Since outsourcing is the norm and not the exception, the manager of Procurement and Contracting is a major stakeholder. Her areas of interest are:
A. Benefits and outcomes toward strategic goals
B. Overall portfolio performance
C. Financial standing
D. Change decisions
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