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?
In your diversified chicken products company, your portfolio of components in progress consists of approximately 175 programs, projects, and other work. Generally, at each Portfolio Review Board meeting, about 35 new proposals are reviewed to see if they should be part of the portfolio. As the portfolio manager, you have set up categories for these components. They are useful to facilitate portfolio optimization because:
You have been assigned as the manager for a major transformation portfolio in your company. You are acquiring the position due to the failure of the previous manager and the strategic importance of the portfolio. You start by consulting the portfolio strategic plan. What do you expect finding in that plan?
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?
Each time a strategic change occurs, it requires a number of updates, and it includes the need to update the portfolio process assets including:
Recognizing that different components can have different types of risks, you decide to see how each risk affects the components. For example, assume you have identified a structural risk as overly ambitious plans and determine this risk affects three of the top five risks in your portfolio. You also have identified an environmental risk, in terms of whether the component will promote the organization's vision, which affects two components. Each component then has some other types of risks that affect it. From such an analysis you can see:
One of the stakeholders of one of your components came to you complaining that his manager is not receiving specific information on multiple components progress. What is your best course of action?
The Strategic Plan is an important document that is referenced throughout the portfolio life cycle. Which of the following is correct regarding the Strategic Plan purpose and focus?
Assume you work in a weak matrix structure in your pharmaceutical company in which most of the program and project managers are coordinators, and most of the staff that supports them are in functional organizations. On some high priority programs, staff may be dedicated to the program full time for a short time period; however, operational work often takes precedence especially in manufacturing. The demand for some of the pharmaceutical products often outpaces the available supply, and shelf life is short. These fluctuations of resources then:
You are currently in the process of defining a portfolio by forming the qualified list of components that will be later evaluated, selected and prioritized. What do you expect as outputs from this process?
