290 ◾ PfMP® Exam Practice Tests and Study Guide
129. d. Work with a company that is Level 3 certied as a subcontractor
One approach to handle a negative risk such as this one is to transfer it
to another party. Being a subcontractor, if selected, continues the rm
in this situation’s positive relationship with the customer and shows it is
focused on customer relationship management.
Portfolio Management Standard, p. 123
Task 5 in the ECO in Risk Management
130. b. An issue aging chart
An issue aging chart is a useful tool at the portfolio level as it can dis-
play in a graph the number of open issues on one axis and their age
on the other axis to pinpoint ones that then require resolution even if
another meeting is needed. The chart also can show the total number
of issues, as well as those considered to be high priority versus low
priority. Issues can be shown by type in categories. The objective is to
identify trends and take action if it is not favorable and take action to
reduce the majority of outstanding issues.
Milosevic, 2003, p. 490–491
Portfolio Management Standard, p. 37
Task 4 in the ECO in Performance
131. a. Ensure such allocations are reected in the portfolio’s strategic plan
The portfolio strategic plan, among other things, documents factors to
be considered in the portfolio to aid decision makers in aligning, autho-
rizing, and controlling the portfolio; this includes allocations of funds.
Portfolio Management Standard, p. 39
Task 6 in the ECO in Strategic Alignment
132. d. Execute portfolio management processes and apply resources to
components
The charter is the key document for the portfolio manager’s activities
and also denes the portfolio structure.
Portfolio Management Standard, p. 47
Task 1 in the ECO in Performance
Practice Test 2 ◾ 291
133. d. Is a portfolio process asset
Portfolio process assets are an input to the Provide Portfolio Oversight
process. In this process, historical performance information, open
issues, and governance decisions are particularly useful.
Portfolio Management Standard, p. 83
Task 2 in the ECO in Governance
134. b. Insight from your stakeholder analysis
The portfolio’s uniqueness and insight from stakeholder analysis are
used to determine the importance of each of these assets.
Portfolio Management Standard, p. 116
Task 5 in the ECO in Communications
135. a. References to corporate risk guidelines
The organization may have guidelines, policies, and procedures in
place, which would be referenced in the plan as they dene risk strat-
egy, tolerance, and thresholds.
Portfolio Management Standard, p. 123
Task 2 in the ECO in Risk Management
136. d. Combines and details forecasts of ongoing supply and demand
Intellectual capital is a resource type. The resource schedule is dis-
played as a histogram, and it then is useful for forecasts and for show-
ing existing supply and demand.
Portfolio Management Standard, p. 90
Task 7 in the ECO in Performance
137. b. The link between organizational strategies and portfolio management
The graphical nature of the roadmap serves as a way to help communi-
cate why portfolio management is being done as the components then
are shown in terms of organizational strategies.
Portfolio Management Standard, p. 50
Task 8 in the ECO in Strategic Alignment
292 ◾ PfMP® Exam Practice Tests and Study Guide
138. a. Engage stakeholders through targeted messages
Portfolio reports are expected to change and are an output of the
Manage Portfolio Information process. In doing so, it is necessary to
provide proactive and targeted information to continually engage stake-
holders and to make sure reports are delivered in a timely manner and
in the desired format.
Portfolio Management Standard, p. 118
Task 5 in the ECO in Communications
139. b. Shows the highest score
This example shows a single criterion approach as a pair- wise compari-
son of different components with one another; the one with the highest
rank then is selected.
Portfolio Management Standard, pp.68–69
Task 5 in the ECO in Strategic Alignment
140. d. Vision statement
The organization’s vision statement, along with its mission statement,
are examples of organizational process assets useful in developing the
portfolio risk management plan. Organizational process assets are an
input to the Develop Portfolio Risk Management Plan process.
Portfolio Management Standard, p. 125
Task 2 in the ECO in Risk Management
141. c. Stakeholder relationships
Portfolio process assets useful in developing the portfolio charter
include documentation on stakeholder relationships, scope, benets,
and the goals of the portfolio.
Portfolio Management Standard, p. 48
Task 1 in the ECO in Performance
142. a. Immature but evolving
Such an inventory takes time to develop and often requires progressive
elaboration as details are gathered on components. In its early stages it
is immature and may not be optimized.
Portfolio Management Standard, pp. 43–44
Task 4 in the ECO in Strategic Alignment
Practice Test 2 ◾ 293
143. d. Prepare the portfolio management plan
This plan needs to be aligned with the strategic plan, roadmap, and
charter, and while the plans are prepared in an iterative way, the
management plan tends to follow the preparation of the other three
documents.
Portfolio Management Standard, p. 57
Task 4 in the ECO in Governance
144. d. Use sur veys
Surveys and questionnaires are an excellent elicitation technique to
facilitate participation from a large group of stakeholders.
Portfolio Management Standard, p. 61
Task 4 in the ECO in Governance
145. d. Preparing and following a transparent communications strategy
This strategy focuses on satisfying stakeholder information needs, and
through transparency, it helps the portfolio manager establish effective
working relationships with stakeholders.
Portfolio Management Standard, p. 105
Task 2 in the ECO in Communications
146. c. Use the roadmap
The roadmap is a high- level prioritization of the mapping over time of
the portfolio, and it forms the initial basis to establish dependencies
in the portfolio and external to it so they can be tracked.
Portfolio Management Standard, p. 39
Task 8 in the ECO in Strategic Alignment
147. c. Provide an approach to assess risks in proposed components
The Portfolio Review Board will use this plan since it contains how
risks are assessed in proposed components and to determine whether
it is worthwhile to justify investments in high risk components before
they are approved.
Portfolio Management Standard, p. 123
Task 2 in the ECO in Risk Management
294 ◾ PfMP® Exam Practice Tests and Study Guide
148. d. Resources are unlimited
In a projectized structure, resources are considered to be unlimited and
can be procured to meet demand.
Portfolio Management Standard, p. 92
Task 7 in the ECO in Performance
149. c. Implement organizational structure analysis
This is a tool and technique to use as the portfolio management plan
is developed as depending on the size of the organization a team or a
single person may manage the portfolio, and executives or a portfolio
board may make decisions.
Portfolio Management Standard, p. 61
Task 4 in the ECO in Governance
150. c. Set up training for staff and stakeholders
Portfolio management is a major change initiative; therefore training in
it and why it is important is required for the staff members who will
have day- to- day responsibilities in its implementation and for key stake-
holders involved in this process.
Portfolio Management Standard, p. 24
Task 5 in the ECO in Communications
151. c. Show where there are gaps in focus, investment, or alignment
This situation is when strategic alignment analysis is appropriate to best
validate what is being done against organizational strategy updates.
Portfolio Management Standard, p. 44
Task 3 in the ECO in Strategic Alignment
152. a. Ways to maintain a balanced portfolio
As an output of the Optimize Portfolio process, updates to the portfolio
management plan may be needed in terms of the optimizing approach,
criteria, and any other information about maintaining a balanced portfolio.
Portfolio Management Standard, p. 77
Task 4 in the ECO in Governance
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