PMI PfMP - Portfolio Management Professional (PfMP)

Portfolio management processes are performed in an environment broader than a portfolio; therefore, an organization-level implementation team supported by executive management, a governing body, and portfolio managers join forces to implement organization-level portfolio management processes. After Defining roles and responsibilities for portfolio management process implementation, what should be the FIRST next step?

Due to multiple issues, there were changes in the reporting process in your portfolio; the meetings with their frequencies have been changed and this will also affect the reporting cycle times. In order to meet this new change you will update which of the following documents?

Assume before you prepared your portfolio management plan for your company that you did some benchmarking and learned that if you used elicitation techniques it was useful in the portfolio development stage and before there were significant scope changes because of strategy changes to the portfolio. You decided to involve the Portfolio Review Board members, other key stakeholders, and some subject matter experts in this process and then decided to poll input from the group as a majority vote. This meant you were using:

You have set a series of meetings with your portfolio team members as an answer to the identification and update of the organization near-term budget and plans. As a result you have defined and developed the portfolio strategic goals, near-term budgets, and plans, and you now want to start managing ongoing portfolio activities. What is the focus of what you are doing?

Obviously resources are more than people and include physical resources and those at the organizational level, such as the knowledge management system, helpful in portfolio management in terms of competitive intelligence. However, since most organizations operate with scarce resources, it is necessary to apply these scarce resources to support the highest ranked items in the portfolio and not to fund a proposed component unless resources are available to support it. Therefore, it is useful to determine at a collective level whether or not resources will create value greater than the cost of creating it. A portfolio report can focus on:

One of the junior portfolio managers learned that she needs to use the roadmap as an input to the portfolio management plan development. She does not understand why, and she came to you for advice. What is your advice to her?

Assume at this point as the portfolio manager in your mattress company, you are activating portfolio components, updating portfolio reports, and documenting the decisions made at the recent Portfolio Governance Committee meeting as the company moves into new markets. You are therefore:

As a portfolio manager you visit and re-do the Optimize Portfolio process continuously. Which of the following, in your opinion, is the objective/purpose of the Optimize Portfolio Process?

Assume as the portfolio manager you have conducted a stakeholder analysis, gap analysis, and a readiness analysis as your cereal company is now entering the ice cream market. A team was formed and located off site to determine whether this market was one in which your company could compete, and its recommendation to do so was accepted by the Portfolio Review Board. Now you need to:

Your CEO is keen to know the expected value of multiple components that interest him and wants you to give him a comparison of the expected value across components. You are currently looking for a tool to facilitate comparison of expected value across components and support informed portfolio decision making. What are you looking for?