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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Portfolio Risk Management | 25% | |
| Topic 2: Governance | 25% | |
| Topic 3: Portfolio Performance | 25% | |
| Topic 4: Strategic Alignment | 25% |
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NEW QUESTION # 149
You are using SMART guideline to create performance measures. Which of the following description about SMART is not correct?
Answer: A
NEW QUESTION # 150
You have been assigned as the manager for a major transformation portfolio in your company. You have a new direction in sight and you need to work with the team to attain the end goal and achieve the expected strategy. For this you start by developing the strategic plan. What output do you expect from this process?
Answer: A
Explanation:
According to The Standard for Portfolio Management (PMI), the process of Develop Portfolio Strategic Plan is the foundational step in the Strategic Management Performance Domain. This process involves defining the portfolio's vision, objectives, and the prioritization model required to align with organizational strategy.
The "Portfolio" Output: In professional portfolio management standards, the creation of the Portfolio itself is a formal output of this initial strategic process. It represents the logical container that will eventually house the programs, projects, and other work categorized to achieve the strategic goals.
The "Portfolio Strategic Plan" Output: This is the primary document that guides the selection, prioritization, and balancing of portfolio components. It includes the prioritization criteria, the roadmap, and the link to the organization's business strategy.
Critique of other options:
Option B: Includes Portfolio Reports, which are outputs of the Provide Portfolio Reporting or Monitor and Control processes, not the initial strategic planning.
Option C: Includes EEF Updates. While EEFs (Enterprise Environmental Factors) influence the plan, they are rarely a formal output of this specific process compared to the core plan itself.
Option D: Includes the Inventory of Work. While the inventory is an input to later processes like Define Portfolio, it is not the standard primary output of the Strategic Plan development.
In summary, the Develop Portfolio Strategic Plan process formally establishes the Portfolio as an entity and produces the Portfolio Strategic Plan as the guiding document for all subsequent governance and management activities.
NEW QUESTION # 151
As part of the new strategic direction, the executive management has decided to create a portfolio for the development of a new product. You have been assigned as the portfolio manager. What should you do as a first step?
Answer: A
Explanation:
Explanation
This is important to know, the first step of every portfolio is checking the inventory of work which relates to the existing portfolios, programs and projects
NEW QUESTION # 152
Assume the organization's strategy has undergone a significant change, and as a result the mix of components in the portfolio also will change. As the portfolio manager, you need to update your charter in order to reflect:
Answer: B
NEW QUESTION # 153
Working as a portfolio manager in the Water Resources Department of the U.S. Geological Survey, you are following a scorecard approach to report progress to your executives on the components in your portfolio.
You submit the scorecards monthly, and based on their results, your executives decide if a Portfolio Review Board meeting should be held. Your emphasis in these reports is to:
Answer: C
Explanation:
In theStandard for Portfolio Management, the scorecard approach is a central element ofPortfolio Performance Management. Its primary purpose is to provide a "check and balance" by comparing current performance against the predefined parameters established during the planning phase.
The rationale forOption Bis as follows:
Defining Variance:A scorecard is effective only when it measures performance against specificTargets (expected results) andThresholds(the boundaries of acceptable variance). If a component's performance exceeds a threshold-such as being 10% over budget or 15% behind schedule-the scorecard flags this for executive attention.
Triggers for Governance:The question explicitly mentions that executives use these results to decide if aPortfolio Review Board (PRB)meeting is necessary. In portfolio governance, meetings are often "triggered" by exceptions. Measuring against thresholds allows executives to practice "management by exception," only convening the PRB when targets are missed or thresholds are breached.
Objective Assessment:By focusing on targets and thresholds, the portfolio manager provides an objective view of the portfolio's health. This ensures that the Water Resources Department is investing its budget and human capital effectively and that any deviation from the plan is addressed before it impacts the overall mission.
Why the other options are incorrect:
Option A (Chart progress toward strategic goals):While progress toward goals is important, this is typically handled inStrategic ReportingorBenefit Realizationreports. Monthly scorecards used for operational governance are more focused on immediate performance metrics (KPIs) and variances.
Option C (Display raw data in a visual graph):Raw data is rarely useful for executives. Portfolio management requires theaggregation and analysisof data into actionable information. A graph is merely a tool, not the emphasis or the purpose of the report.
Option D (Display data using a traffic light approach):Like a graph, the "traffic light" (RAG status) is apresentation format. Thecontentthat determines whether a light is Red, Amber, or Green is the measurement against targets and thresholds (Option B).
NEW QUESTION # 154
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