90 ◾ PfMP® Exam Practice Tests and Study Guide
recognizing these information needs are much broader than those at a program
or project level.
In developing the communications management plan, it is helpful to review
the proposed and ongoing portfolio components to consolidate and standard-
ize communications at the portfolio level. The roadmap is helpful since it shows,
among other things, interdependencies between components. The portfolio
management plan may include the communications plan as a subsidiary docu-
ment but also is useful as if it changes, the changes may lead to new stakehold-
ers with new information requirements. Portfolio performance reports show the
total investment on each component to indicate its value, and dashboards often
are used. Portfolio process assets cannot be overlooked.
Tools and techniques focus on stakeholder analysis to best recognize those
stakeholders with the greatest interest in or inuence in the portfolio invest-
ment. Review the types of stakeholders as shown in Table7-1 in The Standard,
and their levels of inuence and interest as displayed in Figure7-5, in which
stakeholders are assigned into groups. It then follows that a stakeholder matrix
to list roles, interests and expectations by the type of stakeholder, as shown in
Table7-2, should be prepared so no one is overlooked.
Since the portfolio manager then spends much of his or her time interacting
with these stakeholders, he or she can determine whether their interests have
changed, and in meeting with them, can get feedback on the communications
plan. These data are useful to then develop a communications matrix, such as
the one in Table7-3, to array the different communications methods to use, their
frequency, the intended recipients, and the communications vehicles.
The communications plan then denes the process to gather the needed infor-
mation and distribute it and to set expectations for effective communications; the
risks of lack of communications cannot be underestimated.
However, once the plan is prepared, the information must be managed, which
involves collecting, analyzing, storing, and distributing it to stakeholders. Often,
web portals are used for ease of access, and information must be up to date and
of high quality for it to have value to the various stakeholders. In managing infor-
mation, the portfolio with the list of components, the portfolio management plan
to ensure communications are aligned with the other processes, and portfolio
reports are reviewed.
Tools and techniques focus on data gathering in component review meetings
and operational status reports and the portfolio management information system
with a document repository and document version control system to best cap-
ture and manage portfolio information. Communications requirements analysis
continues especially in market comparative analysis and to ensure meaningful
forecasts can be prepared. Different communications methods will be used such
as dashboards, as shown in Figure7-8, to provide extensive information in a
short format, resource histograms, and communications calendars. As portfolio