Governance ◾ 43
10. c. Portfolio management plan
In addition to describing the process to authorize the portfolio, this plan
also describes the key communications needs with a focus on proactive
and targeted delivery of messages to key stakeholders.
Portfolio Management Standard, p. 79
Task 4 in the ECO in Governance
11. d. Shows dependencies within the portfolio
The roadmap is useful for Portfolio Oversight as it shows the dependen-
cies between the components. The Portfolio Review Board or similar
group then uses it to ensure if changes are made to one component,
for example, the changes do not affect other components within
the portfolio.
Portfolio Management Standard, pp. 82–83
Task 5 in the ECO in Governance
12. c. Research and development initiatives
Organizations tend to have some form of control for its portfolios.
Critical attention is paid in research and development as strategic goals
and objectives continually change, and it is then important that the
resources involved in research and development are allocated to the
most strategic priorities, and that other research and development initia-
tives that are no longer deemed relevant are terminated.
Portfolio Management Standard, p. 22
Task 5 in the ECO in Governance
13. a. Portfolio management plan
Among other items, this plan includes procurement procedures as it
describes the use of procurement to meet the organization’s strategic
objectives.
Portfolio Management Standard, p. 39
Task 4 in the ECO in Governance
14. a. In the governance processes
The portfolio management plan and the portfolio governance processes
outline responses to signicant strategic change and how to manage them.
Portfolio Management Standard, p. 63
Task 4 in the ECO in Governance
44 ◾ PfMP® Exam Practice Tests and Study Guide
15. a. Often result in the need for an unscheduled meeting of the Board to
be held
Meetings of the Board tend to be scheduled on a regular basis; however,
ad hoc meetings, typically triggered by external events, can be held.
Portfolio Management Standard, p. 83
Task 1 in the ECO in Governance
16. c. Benets from the existing components are unlikely to be realized
If the organization lacks a successful evaluation and denition pro-
cess, there may be unnecessary and poorly planned components
in the portfolio, hampering benets realization as components lack
strategic alignment.
Portfolio Management Standard, p. 64
Task 3 in the ECO in Governance
17. b. Greater than a predetermined minimum size
Many organizations have limits as to which components must be of-
cially approved to be part of the portfolio. For example, a small project
that takes less than 40 hours to complete with one person doing the
work typically would be excluded.
Portfolio Management Standard, p. 67
Task 2 in the ECO in Governance
18. c. Portfolio reports require updates
Resource capacity and capability reports are examples of the type of
reports that may need to be updated as a result of the Provide Portfolio
Oversight process.
Portfolio Management Standard, p. 84
Task 2 in the ECO in Governance
19. b. Review the portfolio charter
These items should be part of the portfolio charter, and it is required to
prepare the portfolio management plan.
Portfolio Management Standard, p. 60
Task 4 in the ECO in Governance
Governance ◾ 45
20. a. Update the strategic management plan
The structure identies the portfolio, sub- portfolios, programs, and proj-
ects based on the organization areas included, hierarchies, timelines,
and goals. As they are part of the strategic plan, once the structure is
dened, the strategic plan requires updates.
Portfolio Management Standard, p. 47
Task 1 in the ECO in Governance
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