Communications Management ◾ 99
14. Increasingly, many organizations are using portals or more sophisticated
internal knowledge management systems as a way to maintain informa-
tion and make it easy to access. You are, however, working in an avionics
company in which the founder, who is 93, still comes to work, and many of
the executive team members have been with the company 40 to 50years.
It did, however, diversify its portfolio and is working now as a software
provider for a major aviation company as well as continuing its successful
product line. The executives meet monthly to review the portfolio and make
resource allocation and investment decisions. You were hired as a portfolio
manager and are striving to implement new processes and procedures. Since
it is a new function, you are involving others and preparing a portfolio com-
munication plan. In this situation, you should:
a. Realize stakeholders prefer reports
b. Set up an internal portal to store information
c. Use dashboards distributed via e- mail
d. Suggest that the avionics company move into knowledge management as
its next step
15. Assume you are the portfolio manager. You have completed your stakeholder
analysis and have classied them into groups to best manage their communi-
cations expectations and inuence as well as to recognize their interest in the
portfolio. You have a small staff of four reporting to you, and you decided to
assign one of your team members to work with each stakeholder group. One
team member met with you today and was concerned that:
a. The group lacks interest in the portfolio
b. Some stakeholders have different interests
c. Some stakeholders seem to require constant attention, and other assigned
work is suffering
d. The stakeholder group desires more of your attention, not that of the
team member
16. Assume you have prepared your communications strategy for portfolio-
related information, and your strategy emphasizes transparency in terms of
portfolio priorities and status. This approach provides:
a. Support for the Portfolio Oversight Group
b. Credibility for the portfolio manager
c. A basis for a portfolio management information system
d. An approach to manage stakeholders with varying degrees of interest
100 ◾ PfMP® Exam Practice Tests and Study Guide
17. After nishing your stakeholder identication and analysis of their expecta-
tions, you next decided to prepare a communications requirements analysis
in order to:
a. Determine communications frequency, recipients, and vehicles
b. Evaluate communication policies, assumptions, and constraints
c. Determine roles and responsibilities to manage communications
d. Establish communication objectives
18. As the portfolio manager in your dairy cooperative, you must communicate
effectively with stakeholders both internal and external to the company and
to your members. Your goal is to provide stakeholders with the information
they require, and you must understand the components in the portfolio to:
a. Evaluate communications at the portfolio level
b. Simplify information distribution
c. Ensure both external and internal stakeholders receive comparable
information
d. Enable access by any stakeholder to information about portfolio
components
19. Assume that your organization has set up a number of portfolio reports, and
the component managers provide them to the portfolio manager. While the
organization has a number of policies and plans for portfolio management,
it lacks a formal communication management plan. You are now prepar-
ing this plan, and you want to make sure you have information to show the
total investment in each component because:
a. It communicates the assessed value of the portfolio
b. It provides a schedule as to when funding is required for each
component
c. If a decision is made to terminate a component, the sunk costs are
known
d. It shows the total cost of ownership of the portfolio
20. Your goal as a portfolio manager is to develop a strong communications
management plan to keep interested stakeholders informed about your prog-
ress in portfolio management. Although you have reached out to numerous
stakeholders, you know other portfolio processes also can help in this pro-
cess such as:
a. Strategy
b. Finance
c. Governance
d. Risk
Communications Management ◾ 101
Answer Sheet
1. a b c d
2. a b c d
3. a b c d
4. a b c d
5. a b c d
6. a b c d
7. a b c d
8. a b c d
9. a b c d
10. a b c d
11. a b c d
12. a b c d
13. a b c d
14. a b c d
15. a b c d
16. a b c d
17. a b c d
18. a b c d
19. a b c d
20. a b c d
Communications Management ◾ 103
Answer Key
1. c. Optimal resource allocation
Given that resources are scarce, through transparent communication,
there is consistency in how resources are allocated to the components
in the portfolio to better ensure the needed resources are available
according to the component’s priority.
Portfolio Management Standard, p. 107
Task 2 in the ECO in Communications
2. b. What is their stance on change?
This question is useful in assessing inuence to determine if the stake-
holder resists change, support change initiatives, or is considered a
thought leader or early adopter.
Portfolio Management Standard, p. 110
Task 3 in the ECO in Communications
3. c. Update your portfolio management plan
Over time, reporting requirements will change. The portfolio communi-
cation plan is a subsidiary plan to the portfolio management plan, and
updates to the portfolio management plan are an output of the Manage
Portfolio Information process.
Portfolio Management Standard, p. 118
Task 5 in the ECO in Communications
4. c. Information on progress and results
The portfolio manager recognizes how the portfolio relates to the orga-
nization’s strategy and plays a key role in implementing the strategy by
monitoring the initiation of initiatives in the plan and communicating
progress and results.
Portfolio Management Standard, p. 15
Task 3 in the ECO in Communications Management
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