280 ◾ PfMP® Exam Practice Tests and Study Guide
81. d. Included real- time dashboards
Real- time dashboards often are in a PMIS, and they are used to provide
triggers or warning systems of possible risks, issues, and other market
concerns as soon as the event occurs to decision makers.
Portfolio Management Standard, p. 117
Task 5 in the ECO in Communications
82. a. Add a component to enhance brand image
Before proceeding into new markets, the brand image of the company
after the credit card fraud breech must be enhanced following prin-
ciples of scenario analysis.
Portfolio Management Standard, p. 95
Task 7 in the ECO in Performance
83. c. Criteria to see if the risks are identied consistently with the organiza-
tion’s risk strategy
Many organizations have a risk strategy in place at the top level. If so,
the risk management plan updates standard criteria, which the risk
team can use to see if the risks they have identied are done in a man-
ner consistent with the organization’s risk strategy.
Portfolio Management Standard, p. 128
Task 2 in the ECO in Risk Management
84. b. Ask the PMO to gather this information for you
The PMO can support portfolio management in a number of ways, one
of which is to provide program and progress information and metrics
reporting.
Portfolio Management Standard, p. 17
Task 2 in the ECO in Performance
85. b. Technology capabilities and capacities
This situation is one in which technology is continually changing; crite-
ria to consider therefore are technology capabilities and capacities.
Portfolio Management Standard, pp.66–67
Task 4 in the ECO in Governance
Practice Test 2 ◾ 281
86. c. Determine whether there are any needs that are required to best imple-
ment the change
A readiness assessment is useful for bridging the gap between the ‘as is’
and ‘to be’ state, and it also points out any needs not yet addressed but
required for this change.
Portfolio Management Standard, p. 55
Task 7 in the ECO in Strategic Alignment
87. c. Financial report
In managing resource supply and demand, nances are resources so a
nancial report is useful to show any updates in funding.
Portfolio Management Standard, p. 94
Task 3 in the ECO in Performance
88. c. Internal resource allocation
Portfolio governance is a set of processes used to select and prioritize
components and to allocate limited internal resources as it works to
accomplish strategy and objectives in the organization.
Portfolio Management Standard, p. 62
Task 1 in the ECO in Governance
89. a. Resource allocation
Resources are limited in each organization, and it is rare to spend one’s
time working only on one program or project. Reports on resource
use are of interest to see when people are required to support specic
activities on assigned programs and projects.
Portfolio Management Standard, p. 112
Task 4 in the ECO in Communications
90. c. Portfolio performance reports
While a number of different reports may be helpful, performance
reports are especially useful as they serve as indicators to manage risks.
When the portfolio is under way, new risks may be introduced, and
mitigation of other risks could lead to more effective performance.
Portfolio Management Standard, p. 131
Task 4 in the ECO in Risk Management
282 ◾ PfMP® Exam Practice Tests and Study Guide
91. c. Risk ratings
This situation represents a risk to the company as the new product line
requires new technology, and the well- known existing product was
terminated; risk reports require updates as an output of the Optimize
Portfolio process.
Portfolio Management Standard, p. 77
Task 2 in the ECO in Performance
92. c. Stakeholder expectations
The charter includes the key and major stakeholders as well as their
expectations and requirements.
Portfolio Management Standard, p. 49
Task 2 in the ECO in Strategic Alignment
93. b. Assess the current state of portfolio management
The rst step in implementing portfolio management is to assess the
current state of any processes that may exist in the organization. It can
then lead as to what is necessary.
Portfolio Management Standard, p. 23
Task 1 in the ECO in Performance
94. b. Submit a proposal for additions to it in the areas of portfolio and pro-
gram management books
As this portfolio is not delivering its expected value, the best approach
is to suggest some changes to ensure addition of future components
can be added to support organizational strategy.
Portfolio Management Standard, p. 22
Task 3 in the ECO in Governance
95. c. Prepare a vision
A vision for portfolio management is required to clarify the direction to
proceed. It should be prepared in a way that reects cultural values and
conveys meaning to stakeholders.
Portfolio Management Standard, pp. 9, 21
Task 8 in the ECO in Strategic Alignment
Practice Test 2 ◾ 283
96. b. Can tell when drum resources will be needed
Bottleneck resources also are known as drum resources. The critical
chain approach uses buffers and buffer management to manage uncer-
tainty as it considers the effect of resource allocation, optimization, and
leveling.
PMBOK, p. 178
Portfolio Management Standard, p. 93
Task 7 in the ECO in Performance
97. 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 7 in the ECO in Performance
98. b. Processes to support change
At the functional manager level, he or she has risk concerns with prod-
uct development, the organization’s products and services, and pro-
cesses required to best support change. In this situation, whenever a
new product is released, the department must be able to support it.
Portfolio Management Standard, p. 122
Task 3 in the ECO in Risk Management
99. d. Workmanship standards
The other answers are portfolio process assets; workmanship standards
are an example of an external environmental factor under a category of
governmental and industry standards.
Portfolio Management Standard, p. 38
Task 2 in the ECO in Governance
284 ◾ PfMP® Exam Practice Tests and Study Guide
100. b. There is a lack of transparency impacting the selection process
This example shows that the project management processes impact
those at the portfolio even if the project process is not set up to provide
transparency into the project’s performance; thereby impacting the port-
folio selection process.
Portfolio Management Standard, p. 25
Task 9 in the ECO in Performance
101. a. Shows portfolio communication dependencies
With the nancial reports preceding the Portfolio Review Board meet-
ings, the calendar then shows these dependencies so the Board mem-
bers have the nancial data to review before the meeting and can use
the data for decision making.
Portfolio Management Standard, p. 118
Task 5 in the ECO in Communications
102. b. Scenario analysis
Scenario analysis, a tool and technique in the Optimize Portfolio pro-
cess, is useful in this situation to show a variety of portfolio scenarios
with different components and the current components to evaluate out-
comes with different assumptions.
Portfolio Management Standard, p. 75
Task 7 in the ECO in Performance
103. c. Capacity analysis
Such an analysis is useful to assess the amount of work that can be
performed. It reviews internal and external resource availability to help
determine the portfolio structure.
Portfolio Management Standard, p. 48
Task 5 in the ECO in Strategic Alignment
104. b. Update the portfolio management plan
This plan is updated for several reasons; one of which is when there is
a change or revision in the categories and classication of the portfolio
components.
Portfolio Management Standard, p. 70
Task 4 in the ECO in Governance
..................Content has been hidden....................
You can't read the all page of ebook, please click here login for view all page.