You are managing a portfolio for your company and are trying to balance the tasks that will be done internally based on the availability and the ones that will be outsourced. Managing supply and demand is a recurring activity in the portfolio life cycle and results in changes in resource utilization and resource efficiency. What is the expected outcome from managing supply and demand?

1. A. Portfolio updates, Portfolio Management Plan updates, Portfolio Reports updates, Portfolio Components Reports updates
2. B. Portfolio updates, Portfolio Management Plan updates, Portfolio Reports
3. C. Portfolio updates, Portfolio Management Plan updates, Portfolio Reports, Portfolio Process Assets updates
4. D. Portfolio updates, Portfolio Management Plan updates, Portfolio Process Assets updates

Correct Answer: B

The portfolio is undergoing and your are now in the monitoring and controlling phase. Two of your team members are arguing about what to use in order to determine decisions to be made with regards to the portfolio and its components. What should be your advice to them?

1. A. They should use the elicitation techniques to get as much data as possible on the progress in order to be able to take decisions
2. B. They should conduct review meetings on formal and scheduled basis
3. C. They should conduct review meetings on scheduled and informal basis
4. D. They should conduct review meetings on need basis

Correct Answer: B

A junior Portfolio manager has come to you for advice. He is hearing a lot about the definition of portfolio management, however, he is not sure anymore of the exact one. What do you, as an experienced portfolio manager tell him?

1. A. In a portfolio, the Portfolio manager follows the portfolio management processes linearly and does not need to repeat a process once finished
2. B. Generally, you have a single portfolio in an organization, and all other portfolios are sub- portfolios of it
3. C. A portfolio is a component collection of programs, projects, or operations managed as a group to achieve strategic objectives
4. D. A portfolio has clear start and end dates in order for the organization to be able to know when to achieve its strategic objectives

Correct Answer: C

You prepared a portfolio risk management plan when you replaced the previous portfolio manager three years ago. However, recent structural and execution risks have affected the portfolio adversely, resulting in lost opportunities and a decrease in overall return on investment. You are updating the risk management plan as now stakeholders can see its value. In doing so, you can use some portfolio process assets such as:

1. A. Lessons learned
2. B. Portfolio algorithms
3. C. Vision statements
4. D. Risk categories

Correct Answer: B

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:

1. A. Each portfolio in the University should have the same restrictions in terms of available funding
2. B. An effective resource assignment process is required
3. C. Pareto analysis should be used to focus attention on those components with the greatest impact
4. D. Portfolio maturity should be a factor in determining plans and decisions

Correct Answer: B