Embracing a management-by-projects culture means there tends to be far more projects to pursue than available resources. An approach then is required to guide decisions as to components in the portfolio. A best practice to follow is to:

1. A. Set forth in the portfolio strategic plan a prioritization model
2. B. Develop a portfolio roadmap
3. C. Focus on both internal and external environmental changes
4. D. Focus on sustainment of project benefits

Correct Answer: A

Assume as the portfolio manager you have conducted a stakeholder analysis, gap analysis, and a readiness analysis as your cereal company is now entering the ice cream market. A team was formed and located off site to determine whether this market was one in which your company could compete, and its recommendation to do so was accepted by the Portfolio Review Board. Now you need to:

1. A. Acquire resources to support the new line of ice cream products
2. B. Change the prioritization model
3. C. Develop a communications strategy for use internally and also externally
4. D. Set completely new performance metrics for all products

Correct Answer: B

You have been assigned as the manager for a major transformation portfolio in your company. You have a new direction in sight and you need to work with the team handle this strategic change. Which of the following can serve as input here?

1. A. Portfolio Strategic Plan, Portfolio Roadmap, Portfolio Charter, Portfolio Process Assets, Organizational Process Assets
2. B. Portfolio Strategic Plan, Portfolio Roadmap, Portfolio Charter, Organizational Process Assets, Portfolio Management Plan
3. C. Portfolio Strategic Plan, Portfolio Roadmap, Portfolio Charter, Portfolio Process Assets, Portfolio
4. D. Portfolio Strategic Plan, Portfolio Management Plan, Portfolio Roadmap, Portfolio Charter,Portfolio Process Assets, Portfolio

Correct Answer: D

Your company has had a portfolio management process in place for five years at the enterprise level, in its business units, and even in its complex programs. This year the company's Center for Excellence received an award for its work in this area from PMI®. As the Portfolio Manager, you have predefined metrics in place, which are critical because:

1. A. They show transparency at all levels
2. B. They provide stakeholders with critical information on the health of the portfolio
3. C. They show the link of each initiative to the company's strategic goals
4. D. They provide insight into the processes being used

Correct Answer: D

You have been recently assigned to a critical portfolio in your company and wanted to start right away and decided to begin with aligning the strategic management of the portfolio to the organizational strategy and objectives. For this you will use

1. A. Prioritization Analysis, Interdependency Analysis, Cost-Benefit Analysis
2. B. Strategic Alignment Analysis, Prioritization Analysis, Portfolio Component Inventory
3. C. Scenario Analysis, Capability & Capacity Analysis
4. D. Gap Analysis, Readiness Assessment, Stakeholder Analysis

Correct Answer: B