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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Portfolio Risk Management | 25% | |
| Topic 2: Governance | 25% | |
| Topic 3: Strategic Alignment | 25% | |
| Topic 4: Portfolio Performance | 25% |
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NEW QUESTION # 347
A junior Portfolio manager has come to you for advice. He is hearing a lot about the focus of portfolio management practices, however, he is not sure anymore of the exact answer. What do you, as an experienced portfolio manager tell him?
Answer: A
Explanation:
Explanation
Program is undertaken to achieve benefits. Project is undertaken to produce deliverables. Operational work is undertaken to handle operational daily activities. Portfolio is undertaken to achieve one or more organizational strategies and objectives
NEW QUESTION # 348
Assume your consulting company tried portfolio management in the past, but it was not embraced. Instead, people received bonuses if they were able to acquire new work regardless if it fit the company's strategic plan. However, the company was sold, and the new executive team asked you to be the portfolio manager. You explained it did not work in the past, but the new team has pointed
Answer: A
NEW QUESTION # 349
During one of the management meetings, an opportunity was identified. This opportunity has a huge impact on the portfolio. What is your first action as a portfolio manager?
Answer: D
Explanation:
According to theStandard for Portfolio Management(PMI), risk is defined as an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more objectives. In professional portfolio management,Opportunitiesare classified as "Positive Risks." Documenting in the Risk Register (Option C):When an opportunity is identified, thefirst actionis to capture it formally. ThePortfolio Risk Registeris the primary repository for all identified risks, whether they are threats (to be mitigated) or opportunities (to be exploited, enhanced, or shared). By documenting it here first, you enable the portfolio team to perform qualitative and quantitative risk analysis to determine the actual probability and impact before taking further action.
The Risk Management Process:Identification is the first step in the Risk Management lifecycle. Once the opportunity is registered, the portfolio manager can then develop a response strategy to ensure the "huge impact" mentioned in the question is realized for the organization.
Why other options are incorrect based on the Standard:
A). Document it in the benefits register:The Benefits Register tracksplannedandrealizedbenefits. An opportunity is anuncertainevent. It only moves toward the benefits register once it has been exploited and the resulting benefit is defined and scheduled for realization.
B). Update the portfolio management plan:This is a high-level framework document. You would not update the entire management plan for a single newly identified risk or opportunity; you would follow theprocessesalready defined in that plan.
C). Update the portfolio roadmap:The roadmap is updated only after the opportunity has been analyzed, approved, and authorized as a new component or a change to an existing component. Updating the roadmap before analyzing the risk would be premature.
In summary, because an opportunity is a positive risk, thePortfolio Risk Registeris the mandatory first point of entry to ensure it is properly tracked and managed.
NEW QUESTION # 350
You're determining various possibilities of resource allocations and the impact on component schedules. You also notice what would happen if human, financial, or equipment funding was increased or decreased or if constrained resources were not available as scheduled. What process are you performing?
Answer: B
NEW QUESTION # 351
Due to a strategic change, multiple components on your portfolio have been terminated, leaving you with limited remaining funds coming from the terminated components. What should be your best course of action?
Answer: D
Explanation:
Explanation
The remaining budget should be returned to the organization in order to be used in the organization's wider context
NEW QUESTION # 352
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