PFMP Online Practice Questions and Answers

You are the manager for a governmental portfolio aiming to restructure the roads in your country. Having a tight schedule, a large number of stakeholders including the public, in addition to a strict budgeting framework, you know that you will be managing the Communication closely and that the governance board and the stakeholders would want to check on the progress and performance frequently. For this you have developed a robust Communication management plan. Which of the below is used while developing this plan?

A. Scenario Analysis, Capability and Capacity Analysis, Quantitative and Qualitative Analysis

B. Elicitation techniques, Capability and Capacity Analysis, PMIS

C. Elicitation techniques, Communication Requirements Analysis, Stakeholder analysis

D. Elicitation techniques, Value Scoring and Measurement Analysis, Benefits Realization Analysis

In managing strategic change, the portfolio manager performs stakeholder analysis in order to consider the changing requirements. One of the key stakeholders expressed concerns about the lack of recognition of the value contribution of his department. The portfolio manager is not convinced with the level of value contribution. Which of the following is considered the best approach to take?

A. Accept the statement as it is a key stakeholder and the portfolio manager should remain in good contact with him

B. Reject the statement

C. Assign an owner to follow up on this concern and take a decision accordingly

D. This is a key stakeholder and his expectations and requirements should be taken into consideration for further analysis

Your company got recently acquired by another company and the strategic directions which your portfolio is based on have been changed. Which document do you, as a portfolio manager, update to reflect the change to the timeline?

A. Communication Management Plan

B. Portfolio Management Plan

C. Portfolio Strategic Plan

D. Portfolio Roadmap

The members of your Portfolio Review Board and other key stakeholders tend to be risk adverse as the company has survived recent recessions and is profitable. However, in an upcoming meeting with the corporate Board of Directors, they have asked you to show the frequency of meeting certain cost objectives at various percent points. For example assume the portfolio is to meet a $41,000 target in the next month, to be 75% confident this will occur, a forecast of $50,000 is needed. This means you need to show:

A. The needed contingency reserve

B. The probability of achieving portfolio objectives

C. The confidence of meeting success criteria

D. The values of KPIs with their confidence levels

As part of the strategic alignment, you Evaluate organizational strategic goals and objectives using document reviews, interviewing, and other information gathering techniques in order to

A. Understand the strategic priorities

B. Create a basis for decision making

C. Provide a guiding framework to operationalize the organizational strategic goals and objectives

D. Create portfolio scenarios

Assume at this point as the portfolio manager in your mattress company, you are activating portfolio components, updating portfolio reports, and documenting the decisions made at the recent Portfolio Governance Committee meeting as the company moves into new markets. You are therefore:

A. Communicating decisions to all stakeholders

B. Maintaining a decision log from the Committee meeting

C. Updating the portfolio strategic plan

D. Authorizing the portfolio

Each year, you update the portfolio roadmap so people within the organization can see component status, interdependencies, constraints, and business value, among other things. This year, however, two major programs in the portfolio were cancelled as they were government contracts, and the government lacked funds to complete them. Your management then had to reduce staffing. These two programs had dependencies with other components in the portfolio. This means that:

A. The other components may need to be cancelled

B. The proposed benefits from the other components require analysis to see if they can be realized and sustained

C. The value measurement criteria for portfolio components require updates

D. The overall value of the portfolio is affected adversely

Assume you recently took a seminar on portfolio management, and after you returned, you made the business case for it to the President of your consulting firm, recognizing the need to improve the capture ratio of responses to Requests for Proposals. You have been asked to implement portfolio management and recognize that you need to develop orientation and training sessions on it so everyone in the firm realizes why it is essential to pursue. To do so, the best approach is to:

A. Have the training vendor from the seminar you attended submit a proposal to develop several training approaches

B. Develop the courses yourself working with the vendor's materials plus other books and standards on portfolio management

C. Work with the human resources department and have an instructional design person develop the courses

D. Ask the PMO to develop and deliver the courses

As a portfolio manager and in the aim of defining the preliminary list of components to be included in your portfolio, which will serve as a starting point for developing a portfolio. You start by identifying existing and potential portfolio components by reviewing documentation such as business plans/proposals in order to

A. Create a basis for decision making

B. Create portfolio scenarios

C. Provide a guiding framework to operationalize the organizational strategic goals and objectives

D. Understand the strategic priorities

Which of the following is NOT considered as a criteria for prioritization?

A. Interdependency

B. Number of Human Resources Required

C. Legalities D. Strategic Alignment