Practice Test 2 ◾ 295
153. d. Meeting minutes
Updates to portfolio process assets are an output of the Manage
Portfolio Information process. One example is meeting minutes, espe-
cially those involving the governance group as they should be retained
as part of the portfolio artifacts.
Portfolio Management Standard, p. 118
Task 6 in the ECO in Communications
154. a. Positive or negative risk
Using the highly specialized training provider is positive if the provider
delivers as specied in the contract, and the organization does not need
to hire these specialized resources. If the provider does not perform as
expected, it then is a negative risk, and an alternative supplier must be
located or resources with the needed competencies hired.
Portfolio Management Standard, p. 122
Task 3 in the ECO in Risk Management
155. b. Descriptors and categories may need change
The portfolio strategic plan aligns the portfolio with organizational strat-
egy. If the strategy changes, the existing portfolio should be validated
against the changes as the key descriptors, categories, and organization
of the portfolio components may require change.
Portfolio Management Standard, pp.65–66
Task 1 in the ECO in Strategic Alignment
156. c. Benets
The portfolio strategic plan includes the prioritization model, benets,
assumptions, constraints, dependencies, and risks.
Portfolio Management Standard, p. 55
Task 7 in the ECO in Strategic Alignment
157. b. Reports on resource availability should be useful
Resources must be allocated to authorized components. Reports that
show the updated resource pool provide data on these resources and
any resources reallocated from terminated or canceled components.
Portfolio reports are an output of the Authorize Portfolio process.
Portfolio Management Standard, p. 80
Task 3 in the ECO in Governance
296 ◾ PfMP® Exam Practice Tests and Study Guide
158. d. Portfolio charter
Among other things, the charter links the portfolio to organizational
strategy and describes how it will deliver value to the organization.
Portfolio Management Standard, p. 49
Task 9 in the ECO in Performance
159. c. Component C
Scenario analysis uses probabilities as a decision analysis method. In
this example, Component C has the highest EMV at $16,500 and would
be recommended.
Rechenthin, p. 59
Portfolio Management Standard, p. 48
Task 5 in the ECO in Strategic Alignment
160. b. Assigns an owner to each risk
The risk register can be part of the portfolio risk management plan as
part of the roles and responsibilities section. It identies the owners and
other team members for the activities in the plan and roles and respon-
sibilities; one of which can be to own the risk until it is closed and no
longer affects the portfolio.
Portfolio Management Standard, pp. 128, 131
Task 2 in the ECO in Risk Management
161. b. Ensure compliance with standards
One of the key activities in the Authorize Portfolio process is to ensure
compliance with organizational standards, a typical responsibility under
the Knowledge Management Ofcer’s purview.
Portfolio Management Standard, p. 81
Task 1 in the ECO in Governance
162. b. Acquire an automated PMIS
One reason why portfolio reports will change, as an output of the
Manage Portfolio Information process, is if there is an improvement in
the speed and quality of the information. In this situation, acquiring an
automated PMIS rather than using spreadsheets will meet this need.
Portfolio Management Standard, p. 118
Task 5 in the ECO in Communications
Practice Test 2 ◾ 297
163. d. Allocation of funds to different types of initiatives and their contribution
to strategy may require revision
The portfolio strategic plan is prepared and updated frequently; one
section in it involves allocation of funds. If there are changes as in this
situation this section in the plan probably will require revision.
Portfolio Management Standard, p. 46
Task 2 in the ECO in Strategic Alignment
164. b. Consider funding allocations
The portfolio is an input to the Portfolio Oversight process. It is used to
consider component proposals, changes, and changes to funding alloca-
tions among components, whether proposed or in progress.
Portfolio Management Standard, p. 82
Task 1 in the ECO in Governance
165. a. Communications are built around this policy
This policy would be stated in the portfolio management plan, and it is
an input to the Manage Portfolio Information process.
Portfolio Management Standard, p. 115
Task 5 in the ECO in Communications
166. b. Organizational strategy and objectives
They serve as the starting point for the portfolio strategic plan, and the
plan may address the organizational strategy at the corporate, organiza-
tional unit, and functional department levels.
Portfolio Management Standard, p. 44
Task 1 in the ECO in Strategic Alignment
167. b. Determine an overall score for each component
While the prioritization model may be simple or complex, the purpose
is to obtain an overall score and rank for each component.
Portfolio Management Standard, pp. 45–46
Task 6 in the ECO in Strategic Alignment
298 ◾ PfMP® Exam Practice Tests and Study Guide
168. a. Update the portfolio management plan
If roles and responsibilities change as a result of the Manage Portfolio
Value process, the portfolio management plan requires revision.
Portfolio Management Standard, p. 104
Task 4 in the ECO in Governance
169. d. Provides a way to share or optimize scarce resources
The Center of Excellence or PMO in this situation provides support to
portfolio management through providing an effective way to share and
optimize scarce or common resources.
Portfolio Management Standard, p. 62
Task 6 in the ECO in Performance
170. a. Use the ‘as is’ and ‘to be’ state and graphically display the components
by application areas
In a strategic alignment analysis a structure can be prepared based on
a high- level time line showing organizational areas at different ends of a
spectrum from the current situation to that of the organization’s strategic
vision.
Portfolio Management Standard, pp.44–45
Task 3 in the ECO in Strategic Alignment
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