Obviously resources are more than people and include physical resources and those at the organizational level, such as the knowledge management system, helpful in portfolio management in terms of competitive intelligence. However, since most organizations operate with scarce resources, it is necessary to apply these scarce resources to support the highest ranked items in the portfolio and not to fund a proposed component unless resources are available to support it. Therefore, it is useful to determine at a collective level whether or not resources will create value greater than the cost of creating it. A portfolio report can focus on:
After a strategic change is managed and finalized, you as a portfolio manager, are expected to document changes to the portfolio components attributes. Which of the following is the document in which you document these changes?
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:
Assume you are a functional manager in your medical device company in research and development. Your scientists have determined a new product that will be a breakthrough for the company, and you want to serve as the sponsor for this component and present it to your Portfolio Review Board. You will need resources from other parts of the company to commercialize it. As you prepare your proposal you are following the key descriptors set up by the portfolio staff and will include:
As you prepare your communications management plan you realize that stakeholder requirements may change over time, and these changes then will need to be reflected in updates to the plan. As the plan defines the overall communication process not only for gathering information but also in determining recipients of it, it also:
Your CEO was fired because of a decline in the company's profits by the Board of Directors. They have now hired a new CEO, who plans to re-shape the portfolio and has changed the company's strategic goals and objectives. The new CEO will continue the existing product line of soap products that the company has manufactured for the past 50 years but now will manufacture new products to focus on the baby boomer generation as they retire but desire to maintain a youthful appearance. It also will offer other products to new high school and college graduates who want to appear older. As the portfolio manager you should:
Companies adopt project, program and portfolio management practices to enable the realization of business value and the achievement of strategies and objectives. In order to advance the organizational capability and facilitate the alignment of these practices, the company should (choose the best answer)
You are the portfolio manager in a large organization including a diversity of stakeholders. From the start, you knew the importance of correctly managing the stakeholders requirements and concerns and you grouped them in order to
Risk management is an integral part of project, program and portfolio management and is invoked throughout the project, program and portfolio life cycle. Which of the following highlights the difference between portfolio risk and program or project risks?
You are managing a complex portfolio with high risk levels due to emerging technological breakthroughs and a short benefit window to market your product. You know that managing risk is key to success and you continuously report risks and issues to stakeholders. One of the key stakeholders is furious as he cannot find an issue that has occurred a week ago in the risk register. What should you do in this case?
