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PfMP > Portfolio Communication Management > Flashcards

Portfolio Communication Management Flashcards

1
Q

Develop Portfolio Communication Management Plan Inputs?

A
  1. Portfolio
  2. Portfolio roadmap
  3. Portfolio management plan
  4. Portfolio reports
  5. Portfolio process assets
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2
Q

Develop Portfolio Communication Management Plan T&Ts?

A
  1. Stakeholder analysis
  2. Elicitation techniques
  3. Communication requirements analysis
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3
Q

Develop Portfolio Communication Management Plan Outputs?

A
  1. Portfolio management plan updates
  2. Portfolio process assets updates
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4
Q

Manage Portfolio Information Inputs?

A
  1. Portfolio
  2. Portfolio management plan
  3. Portfolio reports
  4. Portfolio component reports
  5. Portfolio process assets
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5
Q

Manage Portfolio Information T&Ts?

A
  1. Elicitation techniques
  2. Portfolio management information system
  3. Communication requirements analysis
  4. Communication methods
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6
Q

Manage Portfolio Information Outputs?

A
  1. Portfolio management plan updates
  2. Portfolio reports
  3. Portfolio process assets updates
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7
Q

Why is Portfolio an Input of Develop Portfolio Communication Management Plan?

A

Because (with descriptive information on the components such as dependencies, level of effort, points of contact, and other dashboard-type information)
- It may have an effect on the communication approach used for consolidating and standardizing communication and evaluating communication strategy at a portfolio level
- It helps to understand the full scope of communication needed

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8
Q

Why is Portfolio roadmap an Input of Develop Portfolio Communication Management Plan?

A

Because clear and timely communication of the roadmap and any changes to the roadmap is a fundamental part of portfolio communication

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9
Q

Why is Portfolio Management Plan an Input of Develop Portfolio Communication Management Plan?

A

Because
- It provides the scope of the portfolio and the initial list of primary internal and external portfolio stakeholders including the governance model
- All elements of the portfolio management plan have communication requirements
- Changes in the portfolio management plan may introduce new stakeholders or new communication requirements

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10
Q

Why is Portfolio Reports an Input of Develop Portfolio Communication Management Plan?

A

Because the format and content of these reports should be defined in the portfolio communication management plan providing templates, standard forms, and procedures for planned portfolio reporting

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11
Q

Why is Portfolio Process Assets an Input of Develop Portfolio Communication Management Plan?

A

Because it provides
- Portfolio manager roles and responsibilities
- Delegations of responsibility for communication
- Status reports
- Portfolio forecasts with variance to plan
- Portfolio risk profile or risk assessment with key risks and issues
- Portfolio value assessments
- Governance decisions
- Funding decisions
- Resource decisions

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12
Q

How is the T&T of Stakeholder Analysis used in Develop Portfolio Communication Management Plan?

A
  • To identify the stakeholders, determine the different individuals and groups
  • To determine their concerns, interests, and influence
  • To target the optimal type of communication and whether various communications can be grouped to match the stakeholder grouping (kind of information, type of communication)
  • To assess the level of interest and urgency in communication by each stakeholder.
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13
Q

How is the T&T of Elicitation Techniques used in Develop Portfolio Communication Management Plan?

A
  • To ensure stakeholder needs are being met and are aligned with the communication management plan
  • To get feedback on the plan
  • To confirm or change the communication requirements
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14
Q

How is the T&T of Communication Requirements Analysis used in Develop Portfolio Communication Management Plan?

A
  • To evaluate the vehicle or tool used to communicate information to the stakeholders and the frequency planned - To determine if changes should be made
  • To ensure the optimal vehicle is being used to meet stakeholder needs
  • To identify any redundant communication
  • To ensure the communication management plan is suitable for the organization based on assessments of the organizational culture
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15
Q

Why is Portfolio Management Plan Updates an Output of Develop Portfolio Communication Management Plan?

A

Because
- The communication management plan may be a subsidiary plan of the portfolio management plan or may be included within the portfolio management plan
- Stakeholders may require new communication that changes the portfolio management plan

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16
Q

Why is Portfolio Process Assets Updates an Output of Develop Portfolio Communication Management Plan?

A

Because it may be needed to update
- communication management roles and responsibilities
- policies or procedures, tools or templates
- portfolio key risks and issues
- lessons learned for any knowledge gained on the effectiveness of portfolio communication management

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17
Q

Content of the Communication Management Plan?

A
  • Communication objectives
  • Roles and responsibilities for managing communication
  • Identified stakeholders
  • Identified stakeholder expectations
  • Planned methods to collect and store communication
  • Planned vehicles to access and deliver communication
  • Planned frequency
  • Communication policies/constraints
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18
Q

Why is Portfolio an Input of Manage Portfolio Information?

A
  • Portfolio component updates are needed for communication to several stakeholders audiences
  • New components added to the portfolio may translate to new sets of stakeholders and new stakeholder communication requirements
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19
Q

Why is Portfolio Management Plan an Input of Manage Portfolio Information?

A

Because It provides the intended approach for managing the portfolio, stakeholder expectations and requirements, communication management, performance, and risks

20
Q

Why is Portfolio Reports an Input of Manage Portfolio Information?

A

Because the information from these reports (changes such as canceled, authorized, and new portfolio component proposals; resource information; governance decisions; performance reports about variances or goal achievement; risk and issue; status) is reviewed to determine what meets the stakeholder requirements and therefore what needs to be communicated

21
Q

Why is Portfolio Component Reports an Input of Manage Portfolio Information?

A

Because These reports may be consolidated and evaluated for impact on overall portfolio performance to determine which stakeholders will receive the communication

22
Q

Why is Portfolio Process Assets an Input of Manage Portfolio Information?

A

Because It provides
- communication guidelines and procedures
- information distribution methods
- risks, performance data
- communication requirements

23
Q

How is the T&T of Elicitation Techniques used in Manage Portfolio Information?

A

To collect data and information to be communicated to stakeholders for decision-making purposes

24
Q

How is the T&T of Portfolio Management Information System used in Manage Portfolio Information?

A
  • It provides a technology-based method of capturing and managing all portfolio-related communication needs
  • It helps to store information, to summarize it for reporting, to assist in managing communication channels
25
Q

How is the T&T of Communication Requirements Analysis used in Manage Portfolio Information?

A

To analyze the data and information in order to separate the data that hold value to the receiving audience
- To build forecasts based on trends in the data
- To select meaningful data for communicating
- To glean the most meaningful, accurate information, ensure it is delivered in a meaningful format, and match the communication method with the documented stakeholders’ requirements

26
Q

How is the T&T of Communication Methods used in Manage Portfolio Information?

A
  • Dashboards: To communicate multiple messages on portfolio status and trending simultaneously
  • Resource histograms: To aid in identifying portfolio risk associated with resource over- or under- allocations across the portfolio
  • Communication calendar: To ensure all of the existing communication dependencies associated with the portfolio as well as the time-sensitive needs of the stakeholders
27
Q

Why is Portfolio Management Plan Updates an Output of Manage Portfolio Information?

A

Because new communication or information management needs and communication methods may be determined

28
Q

Why is Portfolio Reports an Output of Manage Portfolio Information?

A
  • To engage stakeholders at the right time and in the right manner through the proactive and targeted development and delivery of key messages
  • To secure agreements on proposed strategic changes
29
Q

Why is Portfolio Process Assets Updates an Output of Manage Portfolio Information?

A

Because updates are made to various information management policies, procedures, guidelines, and distribution methods with portfolio risks and issues, key stakeholders, meeting minutes, and status reports

30
Q

Purpose of Develop Portfolio Communication Management Plan?

A
  • Identification of Stakeholders
  • Planning effective solutions to satisfy the communication requirements.
31
Q

Purpose of Manage Portfolio Information

A

Executes the communication plan by
- collecting data
- translating data into meaningful information
- supplying it to the identified stakeholders in a timely and effective manner.

32
Q

What is Communication Requirements?

A
  • What information stakeholders need
  • When they need it
  • How it should be delivered
  • specific communication technology available
  • allowed communication media
  • record retention policies
  • security requirements
33
Q

Importance of Transparency Communication

A
  • Ensuring that all necessary information is communicated effectively in planning and reporting
  • Early discovery of missing elements or gaps in communication can help manage risks associated with insufficient or inconsistent communication.
  • Helping in planning for the optimal utilization of resources.
34
Q

Steps to conduct Stakeholder Analysis in Develop Portfolio Communication Management Plan

A
  • Identify Stakeholders
  • Determine Stakeholder Interests and Influence
  • Capture Stakeholder Information and Relationships
  • Classify Stakeholders
35
Q

Questions to consider when assessing stakeholder influence?

A
  • Governance Influence: Who are the members of the governing body? Are there governance processes that affect information requirements?
  • Thought Leadership: Which stakeholders are influencers or early adopters? Who resists change?
  • Authority and Political Influence: What level of authority and political influence do stakeholders have within the organization?
  • Recognition: Is their role as a stakeholder officially recognized by the organization?
  • Interrelationships: What are the interrelationships among stakeholders? Who can significantly influence others?
36
Q

Method to Making data meaningful

A
  • Forecasting: Building forecasts based on trends observed in the data can make the information more actionable and relevant.
  • Selective Communication: Selecting and extracting meaningful data to communicate through various channels, such as newsletters or web portals.
37
Q

How does transparency communication help manage portfolio?

A
  • Mitigating Risks: To mitigate the risk of inadequate communication by ensuring that all stakeholders have access to accurate and up-to-date information.
  • Building Credibility: Being transparent about priorities and status can build credibility for the portfolio manager.
  • Establishing Good Relationships: To fosters trust and good relationships with stakeholders.
  • Aligning Efforts with Strategy: To ensure that resources are not wasted on efforts that do not align with the organization’s strategic goals and objectives.
38
Q

Portfolio Sponsor’s interests and expectations

A
  • Benefits and outcomes that meet the organization’s goals
  • To be informed regularly of portfolio return on investment, key portfolio milestones, risks, costs, and schedule
39
Q

Portfolio Governance’s interests and expectations

A
  • Portfolio performance
  • Governance decisions
  • Change decisions
  • Concerns of sponsors and governing body
  • To be the most knowledgeable party of portfolio progress against goals
  • To be aware of all developments of consequence
40
Q

PMO’s interests and expectations

A
  • Project progress
  • Lessons learned
  • Developing PMO materials for future use
  • To receive notification of all portfolio changes and portfolio needs
41
Q

Contract Management Team’s interests and expectations

A
  • Financial standings
  • Project progress
  • Contract impacts and changes
  • To be made aware of progress against contractual deliverables
  • To be made aware of any changes to the contract including increased resource requirements
42
Q

Portfolio Component Teams’ interests and expectations

A
  • Portfolio changes
  • Portfolio risks and issues
  • To receive notification of all portfolio changes, risks, and issues
43
Q

Why can brainstorming be helpful other than Elicitation Techniques in Develop Portfolio Communication Management Plan

A

Because it may identify new stakeholder groups previously not considered

44
Q

What is the stakeholder matrix used for?

A

Documenting stakeholder expectations, roles, interests, and stakeholder information

45
Q

Types of communication reports generated in Manage Portfolio Information?

A
  • announcements in stakeholder meetings
  • email
  • blogs
  • dashboards
  • web portal postings
  • portfolio manager meetings
  • exception reporting cycles when significant changes occur in the portfolio

PfMP (14 decks)

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