174 ◾ PfMP® Exam Practice Tests and Study Guide
24. a. Balance the portfolio across the organization
The situation shows it is a mature organization. In balancing, many bal-
ance components within the same categories and later move to address
diverse concerns and strategy across the organization.
Portfolio Management Standard, p. 71
Task 6 in the ECO in Performance
25. b. Mandatory criteria
Mandatory criteria include regulatory or operational requirements,
which must be met. These components then are in the portfolio regard-
less of the prioritization approach that is used.
Portfolio Management Standard, p. 70
Task 5 in the ECO in Strategic Alignment
26. a. Resource smoothing
Resource loading requirements over time, such as through the use of
resource leveling or resource smoothing are an example of a quanti-
tative analysis technique. Resource smoothing is useful to be able to
adjust a model of the proposed schedule to ensure requirements for any
predetermined resources do not exceed any capacity limits.
PMBOK
®
, pp.179–180
Portfolio Management Standard, pp. 75, 95
Task 7 in the ECO in Performance
27. c. Have a brainstorming session
Brainstorming is useful to gather ideas from a number of participants
and can help identify new stakeholder groups. These sessions also can
change or conrm requirements from existing groups.
Portfolio Management Standard, p. 112
Task 3 in the ECO in Communications
28. a. Focus on channel partnerships
Channel partner value is especially important in the IS/ IT eld.
Becoming a channel partner, enables an organization to capitalize on
another rm’s credibility and recognition and acquire credentials, pro-
moting increased market share and overall portfolio value.
Portfolio Management Standard, p. 103
Task 9 in the ECO in Performance
Practice Test 1 ◾ 175
29. a. Determine the overall impact to the portfolio performance
Changing priorities means resources must be realigned, and the cost
structure of any needed resources will impact the portfolio’s perfor-
mance. The portfolio manager assesses impacts to determine if they are
value added or adverse.
Portfolio Management Standard, p. 118
Task 5 in the ECO in Communications
30. c. Portfolio performance plan
This plan includes a section as to how the portfolio manager will
address compliance regulations.
Portfolio Management Standard, p. 63
Task 4 in the ECO in Governance
31. a. Compares expected value across components
The value measurement framework organizes the value to be real-
ized, shows how it will be measured, and recognizes both tangible and
intangible benets.
Portfolio Management Standard, p. 96
Task 9 in the ECO in Performance
32. c. Portfolio charter
The charter should be reviewed as the roadmap is described. It contains
information on the components as well as prioritization, dependencies,
and organization areas.
Portfolio Management Standard, p. 51
Task 8 in the ECO in Strategic Alignment
33. c. Document any assumptions
Each interviewee will have various assumptions concerning probability
and impact. These assumptions are a source of risk, and assumption
analysis may be needed to determine their validity.
Portfolio Management Standard, p. 126
Task 2 in the ECO in Risk Management
176 ◾ PfMP® Exam Practice Tests and Study Guide
34. b. Need to revise the portfolio mix
Disruptions to the organization are an indication that it is time to revise
the portfolio mx even though the portfolio process is continual.
Portfolio Management Standard, p. 25
Task 3 in the ECO in Performance
35. b. Total available resources
Resources are limited in organizations. Capacity analysis is required to
assess resource requirements including people, available nding, and
assets such as physical requirements.
Portfolio Management Standard, p. 74
Task 5 in the ECO in Governance
36. c. Internal portal
Since many stakeholders are interested in these decisions and since they
will probably be reviewed frequently, use of an internal portal is the
most appropriate communications vehicle.
Portfolio Management Standard, p. 112
Task 4 in the ECO in Communications
37. a. Component A
Sensitivity analysis uses probabilities as a decision analysis method.
In this example, Component A has the highest EMV and would be
recommended.
Rechenthin, p. 59
Portfolio Management Standard, p. 48
Task 5 in the ECO in Strategic Alignment
38. d. Reassess and update it if needed
The portfolio management plan describes the needed oversight for the
portfolio with criteria to develop, maintain, and control the portfolio
and its components. It should be reassessed to ensure it is still support-
ive when strategic changes do occur and updated as required based on
the intended strategy.
Portfolio Management Standard, p. 53
Task 5 in the ECO in Performance
Practice Test 1 ◾ 177
39. b. Portfolio management plan
The portfolio management plan is an input to the Manage Portfolio
Value process. Among other things, it has a major emphasis on benets
especially in identifying and assessing their impact on objectives and
ensuring components will realize them successfully.
Portfolio Management Standard, p. 96
Task 9 in the ECO in Performance
40. c. Program B
Using NPV as a way to recommend components for optimization, a
dollar one year from today is worth less than a dollar today. The more
the future is discounted, or the higher discount rate, the less the NPV of
the component. If the NPV is high, the component then is ranked high,
leading to Program B.
Milosevic, pp.42–44
Portfolio Management Standard, p. 74
Task 5 in the ECO in Governance
41. d. Your portfolio addresses different strategies than those in other parts of
the Department
Organizations may have more than one portfolio each addressing orga-
nizational strategies and objectives.
Portfolio Management Standard, p. 3
Task 1 in the ECO in Strategic Alignment
42. a. Enables an apples- to- apples comparison of the two approaches
This approach is used by marketing especially in non- prot or govern-
ment agencies as it estimates the whole life cycle cost of carrying out the
project in the traditional approach by the Highway Department as well as
doing it through the partnership so the costs can be considered equally.
Portfolio Management Standard, p. 13
Task 2 in the ECO in Governance
178 ◾ PfMP® Exam Practice Tests and Study Guide
43. b. Prepare a owchart
Flowcharts are helpful to show the entire portfolio process and when it
is time to revisit the portfolio to see if it has the mix of components that
best support organizational strategy. A owchart also enables a focus
on key activities. They are a tool and technique in Optimize Portfolio in
probability analysis.
Portfolio Management Standard, p. 75
Task 7 in the ECO in Performance
44. b. Portfolio structure
The portfolio structure is a guideline to identify the portfolio and sub-
portfolios since it is based on the organizational areas, hierarchies, and
goals for each component.
Portfolio Management Standard, p. 49
Task 4 in the ECO in Strategic Alignment
45. b. The value is realized when components are used
The overall value of the portfolio is delivered when its components are
used by its beneciaries.
Portfolio Management Standard, p. 86
Task 3 in the ECO in Performance
46. b. Organizational value areas
Values represent how the organization’s leaders make decisions. By set-
ting up value areas, decision makers can see how proposed and exist-
ing components support the values of interest.
Portfolio Management Standard, p. 85
Task 1 in the ECO in Strategic Alignment
47. b. Portfolio governance
Even if a PMO is in place in the organization, portfolio governance is
responsible for allocating resources at the time required, in the right
quantity and with the required quality levels.
Portfolio Management Standard, p. 62
Task 1 in the ECO in Governance
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