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PfMP Exam Brain Dumps - Study Notes and Theory
PMI PfMP Exam Syllabus Topics:
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NEW QUESTION 224
Your State Governor is fiscally conservative and has limited significantly the financial resources to be provided to each University in the eight Universities in the State's system. Recognizing your University is going to have a 55% reduction in its budget, your Chancellor is re-evaluating all the work that is under way to see how much it can do with fewer resources. Every department will have layoffs at all levels. However, the University does have a portfolio management process in place, which people support. This means for effective portfolio management:
- A. Each portfolio in the University should have the same restrictions in terms of available funding
- B. An effective resource assignment process is required
- C. Pareto analysis should be used to focus attention on those components with the greatest impact
- D. Portfolio maturity should be a factor in determining plans and decisions
Answer: B
NEW QUESTION 225
While performing the manage supply and demand process, one of your sub-portfolio managers came to you asking advice on how to analyze intangible assets such as resources knowledge or skills based on the metrics defined. What should be your advice to him?
- A. You should tell him that metrics are only defined to measure tangible aspects; intangible measurements should be based on assumptions
- B. You should tell him to use the qualitative metrics defined in the performance management plan in order to measure the intangible aspects. He can then use the number of full-time equivalents in order to quantify them when possible
- C. You should tell him to ignore the intangible aspects as they are not as important as tangible ones which will help in decision making
- D. You should advice him to use quantitative analysis in order to quantify the intangible aspects and be able to measure them
Answer: B
NEW QUESTION 226
You are the manager for a governmental portfolio aiming to restructure the roads in your country. Having a large number of stakeholders including the public, 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. What is expected to be found in this plan?
- A. Introduction (goals, objectives, strategies, and tactics)
- B. Communication objectives
- C. Organization areas and organization structure
- D. Portfolio structure including a listing of the various portfolio components and other work
Answer: B
NEW QUESTION 227
As vision is the desired end state, it requires specific strategies to attain it. These strategies are best achieved by establishing:
- A. Critical success factors
- B. Outcomes
- C. Key performance indicators
- D. Goals
Answer: D
NEW QUESTION 228
Your portfolio has encountered a big issue and multiple management decisions have been taken in order to re-align the portfolio with the strategic objectives. What is the tool that you use in order to report major risks and issues to stakeholders?
- A. Portfolio Management Plan
- B. Portfolio Status Reports
- C. Portfolio Reports
- D. Portfolio Risk Register
Answer: C
Explanation:
Explanation
The risk register is not used for communication with stakeholders as it may contain sensitive information and information with access rights. Risks and issues are part of the portfolio reports which contain, among others, portfolio risks and issues. As a portfolio manager you will need to extract the needed data from the registers and send it as a report to the stakeholders
NEW QUESTION 229
You are the manager of a major portfolio with a variety of stakeholders and stakeholder groups. you know that managing communication is key to success and you stress on maintaining a high communication level. You have just finalized the development of the Portfolio Communication Management Plan. Which of the following is correct regarding its purpose and focus?
- A. Identifies recipients for information associated with the portfolio management process
- B. Shows how and when the portfolio resources will be planned, balanced, and allocated to the portfolio components
- C. Articulates the options, preferences, and factors that will be considered in a specific portfolio
- D. Describes the approach and intent of management in identifying, approving, procuring, prioritizing, balancing, managing, and reporting a portfolio
Answer: B
NEW QUESTION 230
You are the manager for a governmental portfolio aiming to restructure the roads in your country. Having a large number of stakeholders including the public, 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. What is expected to be found in this plan?
- A. Introduction (goals, objectives, strategies, and tactics)
- B. Communication objectives
- C. Organization areas and organization structure
- D. Portfolio structure including a listing of the various portfolio components and other work
Answer: B
Explanation:
Explanation
Communication Objective is the only option included in the portfolio communication management plan; the latter includes as well: Communication objectives; Roles and responsibilities for managing communication; Identified stakeholders; Identified stakeholder expectations; Planned methods to collect and store communication; Planned vehicles to access and deliver communication; Planned frequency, and Communication policies/constraints
NEW QUESTION 231
The portfolio management information system is often a collection of spreadsheets rather than automated tools. An effective PMIS enables the portfolio manager to define, analyze, design, produce, and manage information systems to support a successful portfolio, and includes tools and processes such as:
- A. Financial management processes and systems, Communication management processes and tools
- B. All of the options
- C. Change or configuration management systems, Communication management processes and tools
- D. Software tools, Risk database and analysis tools, Earned value management processes and tools
Answer: B
Explanation:
Explanation
PMIS includes: Software tools, Document repository and document version control systems, Change or configuration management systems, Risk database and analysis tools, Financial management processes and systems, Earned value management processes and tools, Communication management processes and tools, and Other knowledge management tools and processes required to support portfolio management
NEW QUESTION 232
Multiple communication methods are used by the portfolio manager in order to proactively convey messages and engage the stakeholders at the right time and in the right manner. Which tool is used to visually convey multiple messages at the same time?
- A. Dashboards
- B. Efficient Frontiers
- C. Communication Calendar
- D. Resource sheets
Answer: A
NEW QUESTION 233
While managing portfolio value, you met with stakeholders and discussed how to address the strengths and weaknesses in order to ensure benefits are comprehensively and holistically taken into consideration. Which of the following tools and techniques are you performing?
- A. SWOT
- B. Benefits Realization
- C. Value Scoring & Measurement
- D. Quantitative & Qualitative
Answer: A
NEW QUESTION 234
Risks perspectives differ within the organization between executive management, operations management, portfolio management and project/program management. When it comes to Operations management, which of the following is a risk concern?
- A. Reporting and data accuracy
- B. Time, cost and scope commitments
- C. Issues with Product development
- D. Time to market
Answer: C
NEW QUESTION 235
Your company works closely with the government on the implementation of water pumps for rural areas. You are constantly dealing with new and updated regulations, and periodically adapting the portfolio to the changes. When it comes to regulatory components, how do you include the components in the portfolio?
- A. Normally categorize, score and rank the components and include them similar to any other component in the portfolio
- B. Include them directly in the portfolio without categorization, ranking and scoring
- C. Normally categorize, score and rank the components, however, include them in the final portfolio regardless of the results
- D. Reject them if they are not strategically aligned with the portfolio objectives
Answer: C
NEW QUESTION 236
A big strategic change occurred at the organization level and has impacted multiple portfolios in the organization including yours. The sponsor has asked you to analyze the change and update the needed documents. You managed this change and are currently updating the Portfolio Management Plan. Which of the following are part of this update
- A. Stakeholder Engagement
- B. Portfolio Organizational Structure
- C. All of the options
- D. Communication and Performance Management
Answer: C
NEW QUESTION 237
Your CEO is keen to know the likelihood of the portfolio to realize the expected ROI. You are currently looking for a tool to calculate the probability to achieve portfolio objectives. Which of the following will help you in doing that?
- A. SWOT Analysis
- B. Investment Choice Analysis
- C. Risk Exposure Charts
- D. Delphi
Answer: C
NEW QUESTION 238
Portfolio Prioritization Model is included in the Portfolio management plan and Portfolio Strategic Plan. How does it serve the Portfolio as part of the Portfolio Strategic Plan?
- A. All of the options
- B. Used as a decision framework to structure the portfolio components
- C. Guides the ongoing decisions as to which portfolio components should be added, terminated, or changed
- D. Ensures benefits are comprehensively and holistically taken into consideration
Answer: B
Explanation:
Explanation
Within the portfolio strategic plan, the prioritization model is useful as a decision framework to structure the portfolio components; typical example: scorecards
NEW QUESTION 239
In a portfolio, data is an abundant asset, and managing the information aiming for a a better decision making is critical. For this you use a variety of Quantitative and Qualitative analysis methods. These methods are performed in 4 of the portfolio management processes and serve a slightly different purpose in each and every one of them. Considering that you are currently performing risk assessment and handling risk responses, how can you make use of the quantitative and qualitative analysis?
- A. Performing Quantitative analysis and Sensitivity analysis
- B. Performing Cost-benefit analysis, quantitative analysis, scenario analysis, probability analysis, SWOT analysis, Market/competitor analysis and business value analysis
- C. Performing Status and trend analysis, Rebalancing methods, Investment choice tools, exposure charts
- D. Performing resource leveling, project sequencing techniques and dependency analysis
Answer: A
NEW QUESTION 240
Your dry foods company is faced with new regulations that dramatically change what is to be included in each product to put on redesigned food labels. The objective of the regulations is to help reduce obesity in the citizens in your country so they are aware of trans-fat food. You must be in complete compliance with these regulations in six months. As the portfolio manager you must document how you will address these regulations in a:
- A. Portfolio performance plan
- B. Portfolio communications plan
- C. Detailed report to the Portfolio Review Board
- D. Meeting with all employees as some existing components will be deferred to meet the requirements
Answer: A
NEW QUESTION 241
comes to this type of organizations, which of the following statements is true?
- A. Human Resources should be fixed and work should be allocated based on the capacity and capability
- B. All incoming projects and customers' requests should be accepted and resources should be supplied whether permanently or temporarily
- C. Resource Supply is continuously adjusted through permanent and temporary resources
- D. Projects that align with strategic objectives should be initiated even if the ROI is negligible
Answer: C
NEW QUESTION 242
While a variety of prioritization approaches are available and are useful in portfolio management and many software packages support the various approaches, it is important to recognize:
- A. Mandatory criteria
- B. Allocation of funds across categories based on business value
- C. Resource constraints
- D. Methods to determine which components should receive the highest priority
Answer: A
NEW QUESTION 243
When developing the charter, you will use multiple inputs and documents of which the portfolio Strategic Plan is one. How is the strategic plan used in this case?
- A. It is not an input to this process
- B. The prioritization model is used as a decision framework to structure the portfolio components
- C. It is updated based on the output of the Develop portfolio charter process
- D. The Portfolio Structure and Portfolio Manager's Authorizations are copied from the Portfolio Strategic Plan as is and incorporated in the Charter
Answer: B
Explanation:
Explanation
Based on the standard for Portfolio Management and when developing the portfolio charter, the prioritization model from the strategic plan is useful as a decision framework to structure the portfolio components
NEW QUESTION 244
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