132 ◾ PfMP® Exam Practice Tests and Study Guide
69. As the Director of the Portfolio Management Ofce at your worldwide furni-
ture store, you prepare a series of reports on the status of the portfolio. One
report that you use is a bubble diagram. In using it in terms of resource sup-
ply and demand, you should structure it to show:
a. Required resources and available resources
b. Resource availability and life cycle phase
c. Resource competency and component probability of success
d. Resource importance and probability of success
70. Your organization is considered a leader in knowledge management and has
a Chief Knowledge Ofcer reporting to the CEO. It also implemented portfo-
lio management eight years ago. As the organization focuses on continuous
improvement and transformational leader ship, it had an external consultant
review its portfolio artifacts and do some benchmarking. One of the consul-
tant’s recommendations was to update the portfolio risk management plan
since the company is embracing new and complex technology in much of its
work. In updating this plan, it was useful to:
a. Review lessons learned
b. Determine relevant condence limits of risk metrics
c. Prioritize how risks are identied and listed in the risk register
d. Determine the time in which risks are likely to have the greatest impact
71. Working to manage portfolio value is a continuous task. In doing so, as the
portfolio manager, you review the monthly and any ad hoc reports submit-
ted by component managers. This month you saw there was an excellent
opportunity for major cost savings in two components in the top ve on
the portfolio list; however, to realize this cost reduction, these components
require resources to be reallocated from other components in progress for
six months. These forecasts then:
a. Should be veried by independent estimators for accuracy
b. Require validation by the CFO and his staff
c. Should be accompanied by an analysis of earned value data to ensure the
components are using the same method of reporting
d. Are recommended for consideration by the Portfolio Review Board
72. As vision is the desired end state, it requires specic strategies to attain it.
These strategies are best achieved by establishing:
a. Outcomes
b. Key performance indicators
c. Critical success factors
d. Goals