Portfolio Management Professional (PfMP) (PfMP) Free Practice Test

Question 1

A project manager reports that adding a dependency to a project may decrease the overall project cost. Other project managers raise concerns regarding changing portfolio dependencies.
How should the portfolio manager respond?

A. Perform a scenario analysis to identify possible collateral outcomes of modifying dependencies.

B. Register the opportunity and perform a probability and impact assessment to determine how to proceed.

C. Refer to the risk management plan, develop a risk response, and assign an owner.

D. Update the portfolio roadmap and overall portfolio cost for inclusion in the next status report.

Correct Answer: A

Question 2

Assume you are preparing the first portfolio risk management plan for your outsourcing company, which typically handles call centers around the world. While the company has implemented portfolio management and has a Portfolio Oversight Group, it did not previously assess risks to the portfolio itself. Instead, it assumed risks would be managed at the project level. However, numerous customer complaints have been received. The root cause is once a new call center is established, limited if any planning is done as the manager rushes to have it ready and operational as soon as possible. This has led to a lack of understanding as to what is required for the call centers to be successful. In preparing this plan, you are reviewing the portfolio management plan because it:

A. Contains the portfolio vision statement

B. Provides guidance on stakeholder engagement

C. Provides the organization's risk tolerance

D. Includes the portfolio performance matrices

Correct Answer: B

Question 3

You are the portfolio management for a big corporate with existence in 3 continents. While planning the performance management and in particular the dashboards and reporting tools, which of the following options is the most important to account for the different geographical locations?

A. Organizational Process Assets

B. A good sponsor to back you up

C. Portfolio Process Assets

D. Enterprise Environmental Factors (EEFs)

Correct Answer: D

Question 4

Roadmaps may be prepared to show different elements, and at the beginning they may not provide details of the various components. As a high-level plan at the portfolio level, the roadmap:

A. Contains all the details of program and project roadmaps

B. Identifies internal and external dependencies

C. Serves to identify issues

D. Serves as a master schedule to show the timing of approved components

Correct Answer: B

Question 5

You are managing a portfolio for a major car dealer in the region and due to diversity of locations, funding terms and your client's corporate structure, you have a big number of components to be included in the portfolio. With such a huge number, you need to prioritize the components in order to prepare the mix of components to execute. Where can you find the prioritization model?

A. Portfolio Roadmap

B. Portfolio Strategic Plan

C. Portfolio Risk Management Plan

D. Portfolio Charter

Correct Answer: B

Question 6

Processes in the portfolio management layer interact with each others. For example, Manage Portfolio Information interacts with Provide Portfolio Oversight in order to store decisions made during the portfolio review meetings. Where are these decisions stored?

A. Portfolio Management Plan

B. Portfolio Process Assets

C. Portfolio

D. Portfolio Reports

Correct Answer: D

Question 7

A new sponsor was appointed by the company in order to push more on the investments underway. The new sponsor wants detailed information on time and money and wants to get things done quickly. Which element of the portfolio management plan will be referred to for managing the sourcing of key resources?

A. Portfolio Oversight

B. Governance Model

C. Performance Management Plan

D. Communication Management Plan

Correct Answer: C

Question 8

Manage supply and demand comes down to balancing the requirements with what is available.
Resource requirements are a major input to the manage supply and demand process. Which of the following inputs to this process contains resource requirements?

A. Portfolio Management plan

B. Portfolio

C. Portfolio Process Assets (PPAs)

D. Portfolio Charter

Correct Answer: B

Question 9

As a portfolio manager you try to use all the information available to you in order to get the best out of the existing information and to better plan and manage the portfolio. The Enterprise Environmental Factors are important and referenced throughout the portfolio life cycle. Which of the following is correct regarding their purpose and focus?

A. Organization's overall governance processes

B. Establish communication requirements

C. High-level prioritization mapping of the portfolio

D. Forecasts how and when the portfolio will deliver value to the organization

Correct Answer: A

Question 10

A portfolio manager is working for an organization that has only loosely defined its goals and objectives. After interviewing several members of top management, the portfolio manager has a better sense of the organization's priorities.
In order to show how the portfolio components align with the perceived organizational priorities, the portfolio manager should create a portfolio:

A. charter.

B. strategic plan.

C. roadmap.

D. gap analysis.

Correct Answer: B

Question 11

Two functional managers within your portfolio are arguing about one scarce resource, and each one is claiming that the resource should be assigned to them. What should you do as a portfolio manager in order to solve this issue?

A. Perform a capacity and capability analysis and tender the recommendation on resource allocation to the governance board

B. Perform a capacity and capability analysis in order to allocate the scarce resource

C. Sit with the two functional managers privately and let them agree on a solution

D. Do prioritization analysis and allocate the resource accordingly

Correct Answer: D

Question 12

The portfolio management plan is intended to:

A. provide process-related assets from the stakeholders or teams involved in the portfolio.

B. define authority levels and establish approaches for all phases of portfolio management.

C. document the scenarios and environmental factors that will be considered in a specific portfolio.

D. set the tone, approaches, and roles and responsibilities to meet the organization's strategic objectives.

Correct Answer: D

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PMI Portfolio Management Professional (PfMP) (PfMP) Free Practice Test