2. Portfolio Life Cycle

Question 1

major activities in portfolio life cycle management (4)

Answer 1

• strategic planning (vision, mission, goals, metrics)
• monitor & control (performance metrics)
• design & development of product and service lifecycle
• development of business case & model

Question 2

goal of supportive processes

Answer 2

to keep the portfolio alligned with with governance controls and measures

Question 3

examples for supportive processes in the portfolio lifecycle management (4)

Answer 3

management of

• communications
• financial
• risk
• dependancy

Question 4

in which PLC stage are supportive processes defined?

Answer 4

during the initiation stage

Question 5

focus of dependancy management (4)

Answer 5

impacts from various factors e.g.

• resource and time constrains
• financial costs
• project outcomes
• risk profiles

Question 6

goals of initiation stage (3)

Answer 6

• validating business and operational strategy
• identifying the portfolio components in the scope
• defining a long term roadmap with financial goals, performance metrics, communications, governance, stakeholders´definition & roles, ongoing management plans

Question 7

key processes to set up during the initiation stage (5)

Answer 7

• governance framework
• communications planning
• prioritizing criteria
• portfolio performance metrics
• portfolio risk management

Question 8

primary goals of the planning stage (10)

Answer 8

• management of portfolio components
• budgeting
• identification of interdependencies
• identification of risks and issues
• ressourcing requirements
• prioritization of portfolio components
• confirmation of governance body/ sponsor and stakeholder accountability
• portfolio metrics
• scope of components within the portfolio
• product and/ or services requirements and specifications

Question 9

primary goals of the execution stage (6)

Answer 9

• lead delivery of all components within each portfolio
• manage and resolve risk (across interdependencies)
• fasciliate communication
• reprioritize and change subsidiary portfolios as needed
• monitor benefits realization potential
• manage portfolio assets and ressources

Question 10

main goal of optimization stage

Answer 10

to ensure that the available human, material and financial ressources are best applied

Question 11

goal of monitor and control

Answer 11

to understand when changes need to be made to the portfolio or the portfolio management process

Question 12

content of the portfolio management process concerning monitor and control (3)

Answer 12

• execution
• documentation
• communication

of decisions and resulting actions taken

Question 13

def portfolio management information system (PMIS)

Answer 13

tools and techniques used to gather, integrate, visualize, preserve and disseminate the outputs of organizational portfolio management

Question 14

content of the PMIS (11)

Answer 14

• portfolio categorization (components, dependencies, stakeholders)
• centralized dashboard for KPIs
• software automation tools
• centralized online document repository and version control
• change and configuration management
• workflow management and documentation of escalation communication
• historical and current information on portfolio risks, issues, assumptions and dependencies
• integration with other applications and integrated business process management tools
• financial management processes and systems, cost control and scedule control
• communications management processes and tools
• business process management tools

Question 15

factors to determine the needed rigor and level of portfolio governance (8)

Answer 15

• types of components within the portfolio and required number of subsidiary portfolios
• legal or regulatory programs and projects need firm governance
• level of administration ressources to support the governance
• agility required
• centralized vs decentralized governance required based on size and scope of the organization
• location of governance and resources required
• audits
• performance metrics