Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

PMI Portfolio Management > Portfolio Management Processes 3rd ed > Flashcards

Portfolio Management Processes 3rd ed Flashcards

1
Q

Knowledge Areas (5)

A

Portfolio strategic Management
Portfolio Governance Management
Portfolio Performance Management
Portfolio Communication Management
Portfolio Risk Management

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Process Groups (3)

A

Defining Process Group
Alligning Process Group
Authorizing &Controlling Process Group

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Processes of the portfolio strategic management Knowledge Area (4)

A

Defining Process Group:
- Develop Strategic Plan
- Develop Portfolio Charter
- Develop Portfolio Roadmap
Alligning Process Group:
- Manage Strategic Change

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Processes of the portfolio governance management Knowledge Area (5)

A

Defining Process Group:
- Develop Portfolio Magagement Plan
- Develop Portfolio
Allign Porcess Group:
- Optimize Portfolio
Authorizing & Controlling Process Group:
- Authorize Portfolio
- Provide Portfolio Oversight

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Processes of the Portfolio Performance Management Knowledge Area (3)

A

Defining Process Group:
- Develop Portfolio Performance Management Plan
Alligning Process Group:
- Manage Supply and Demand
- Manage Portfolio Value

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Inputs for the develop Portfolio strategic plan process (5)

A
  • Organizational strategy &objectives
  • Inventory of work
  • portfolio process assets
  • organizational process assets
  • enterprise environmental factors
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Tools & Techniques of the develop strategic plan process (3)

A
  • Portfolio Component Inventory
  • strategic Allignment analysis
  • priorization Analysis (ROI, Investment Risks, dependencies)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Components of the Portfolio Strategic Plan (5+x)

A
  1. Ziele & Bereiche
    Portfolio vision & objectives
    organizational structure & organizational areas
    portfolio prioritization model, high level prioritization, decision- making framework
    Measurable goals & guidance
  2. Finanzen: Rückfluss
    portfolio benefits, performance results, value expected
    allocation of funds to different types of initiatives (portfolios, subportfolios) and how they contribute to the organizational strategy & objectives
  3. Ressourcenbedarf
    ressources required by type and quantity
  4. Kommunikation
    communication requirements to ensure successful change and implementation
  5. Risiken, Annahmen, Abhängigkeiten
    key assumptions, constraints, dependencies, risks
    risk tolerance
    Risk tolerance: the degree of risk that an investor is willing to endure given the volatility in the value of an investment.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Components of the portfolio Charter (5+x)

A
  1. Ziele
    Objectives
    high-level scope
    critical success criteria
    portfolio justification
    high-level timeline
  2. Finanzen/ Nutzen
    benefits
  3. Ressourcenbedarf
    resources (Capacity & Capability)
  4. Stakeholder insb. Rollen
    portfolio sponsor(s)
    portfolio management roles &responsibilities
    key & major stakeholders
    stakeholder expectations & requirements
    communication requirements
  5. Risiken
    assumptions, constraints, dependencies, and risks.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Inputs for the develop portfolio charter Process (3)

A
  • Portfolio Strategic Plan
  • Portfolio Process Assets
  • Enterprise environmental factors
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Tools & Techniques to develop the portfolio Charter (2)

A
  • Scenario Analysis
  • Capacity & Capability Analysis
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Inputs to Develop the portfolio Roadmap (3)

A
  • Portfolio strategic plan
  • portfolio charter
  • portfolio
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Tools & Techniques to develop the Portfolio Roadmap (3)

A
  • Interdependency analysis
  • cost-benefit- analysis (NPV, discouted cash flow, IRR, Cost benefit ratio, payback, options analysis)
  • prioritization analysis
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Inputs for the manage strategic change process (6)

A
  • Portfolio strategic plan
  • portfolio charter
  • portfolio
  • portfolio roadmap
  • portfolio management plan
  • portfolio process assets
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Tools & techniques to manage strategic change (3)

A
  • stakeholder analysis
  • gap analysis
  • readiness assesment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Inputs for the develop portfolio management plan process (6)

A
  • portfolio strategic plan
  • portfolio charter
  • portfolio roadmap
    portfolio process assets
  • organizational process assets
  • enterprise environmental factors
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Tools & Techniques for the develop portfolio management plan process (3)

A
  • Elicitation techniques
  • portfolio organizational structure analysis
  • integration of portfolio management plans (subsidiary Plans: Risk, communications, performance mngmnt)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Content of Elicitation techniques (3)

A
  • facilitaiton techniques (Focus groups & Brainstorming)
  • survey techniques (interview & Observation)
  • Collaboration techniques (majority vote)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Content of the portfolio management plan (12)

A
  • portfolio justification, high level scope and timelines
  • governance model
  • structure of portfolio oversight (who?)
  • Process of managing strategic change
  • process of change control and Management
  • methods of balancing Portfolio and managing Dependencies
  • Performance management planning
  • Communication planning
  • Risk management planning
  • Procurement planning
  • Managing Compliance
  • Prioritization model (solid and more detailed than in the portfolio strategic plan)
    eg balanced scorecard, ROI, Investment Risk and dependencies
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Inputs for the define portfolio process (6)

A
  • portfolio strategic plan
  • portfolio charter
  • portfolio
  • portfolio roadmap
  • portfolio management plan
  • portfolio process assets
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Tools & Techniques for the define portfolio process (3)

A
  • portfolio component inventory (key descriptors& preliminary comparison of components against the portfolio definition)
  • portfolio component categorization techniques (categories: increased profitability, risk reduction,..)
  • weighted ranking & scoring techniques (single criterion, multiple criteria, scoring models)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Inputs for the optimize portfolio process (5)

A
  • portfolio
  • portfolio roadmap
  • portfolio management plan
  • portfolio reports
  • portfolio process assets
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Tools & techniques for the optimize portfolio process (4)

A
  • capability & capacity analysis (human, finacial, assets)
  • weighted ranking & scoring techniques (single criterion, multiple criteria, scoring models)
  • quantitative & qualitative analysis (Cost- benefits- analysis, scenario- analysis, probability- analysis, SWOT- analysis, Market/ Competitor analysis, Business- value- analysis)
  • graphical analytical methods (risk vs. return charts, histograms, pie charts)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Inputs for the authorize portfolio Process (3)

A
  • Portfolio
  • portfolio management plan
  • portfolio reports
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Tools & techniques for the authorize portfolio process (2)

A
  • portfolio authorization process
  • portfolio management information system (PIMS)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Inputs for the provide portfolio oversight process (5)

A
  • Portfolio
  • portfolio roadmap
  • portfolio management plan
  • portfolio reports
  • portfolio process assets
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Tools & techniques for the provide portfolio oversight process (2)

A
  • portfolio review meetings
  • elicitation techniques (facilitation techniques (focus- groups & brainstorming) , survey- technique (interview &observation), cooparation- techniques (majority votes)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

Outputs of the develop strategic plan process (2)

A
  • Portfolio strategic plan
  • portfolio
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Outputs of the develop portfolio charter process (3)

A
  • Portfolio strategic plan updates
  • Portfolio Charter
  • portfolio process assets updates
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

outputs of the develop portfolio roadmap process (1)

A
  • Portfolio Roadmap
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Outputs of the manage strategic change process (6)

A
  • Portfolio Strategic Plan Updates
  • Portfolio Updates
  • Portfolio Charter Updates
  • Portfolio Roadmap Updates
  • Portfolio Management Plan updates
  • Portfolio process assets updates
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Outputs of the develop portfolio Management Plan process (3)

A
  • Portfolio Strategic Plan updates
  • Portfolio Management Plan
  • Portfolio Process assets updates
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Outputs of the define portfolio Process (3)

A
  • Portfolio updates
  • Portfolio Roadmap updates
  • Portfolio management plan updates
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

Outputs of the optimize portfolio process (5)

A
  • Portfolio Roadmap updates
  • Portfolio Mangement Plan updates
  • Portfolio Updates
  • Portfolio Reports
  • Portfolio Process assets updates
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

Outputs of the authorize Portfolio Process (4)

A
  • Portfolio Updates
  • Portfolio Management Plan updates
  • Portfolio Reports
  • Portfolio Process Assets Updates
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

Outputs of the provide portfolio oversight process (4)

A
  • Portfolio Updates
  • Portfolio Management Plan updates
  • Portfolio Reports
  • Portfolio Process Assets Updates

(selbe wie bei “Authorize Portfolio Process”)

37
Q

Inputs of the develop Portfolio Performance management plan process (4)

A
  • Portfolio Management plan
  • Portfolio Process assets
  • Organizational process assets
  • Enterprise environmental factors
38
Q

Tools of the Develop Portfolio performance management plan process (3)

A
  • Elicitation techniques (faciliation, surveys, cooperation techniques)
  • PIMS
  • Capacity &capability analysis
39
Q

Outputs of the Develop performance management plan process (2)

A
  • Portfolio Management Plan updates
  • Portfolio Process assets updates
40
Q

Inputs for the manage supply & Demand Process (3)

A
  • Portfolio
  • Portfolio Management Plan
  • Portfolio Reports
41
Q

Tools for the manage supply & demand Process (3)

A
  • scenario analysis
  • qualitative & quantitative analysis (resource levelling eg sequencing technique, dependency analysis, trend analysis)
  • Capacity & Capability Analysis
42
Q

outputs of the manage supply & Demand process (3)

A
  • Portfolio management plan updates
  • portfolio updates
  • reports

(Updates auf die Inputs des Prozesses)

43
Q

Inputs of the manage portfolio value process (3)

A
  • portfolio Roadmap
  • Portfolio management plan
  • Portfolio Reports
44
Q

Tools of the manage portfolio value process (3)

A
  • Elicitation techniques (fasciliation, survey, cooperation, SWOT)
  • value scoring & measurement analysis (scoring- models eg spiderweb), cost -benefits analysis eg NPV & ROI, comparative advantage analysis eg what- if - analysis, progress measurement techniques eg. earned value, efficient frontier)
  • benefits realization analysis (results chain,…)
45
Q

Outputs of the manage portfolio value process (3)

A

-Portfolio management plan updates
- Portfolio Reports
- Portfolio process assets updates

46
Q

Inputs of the develop communication management plan (5)

A
  • portfolio
  • roadmap
  • portfolio management plan
  • portfolio reports
  • portfolio process assets
47
Q

Tools of the develop portfolio communication management Plan process (3)

A
  • Stakeholder analysis (graphic: Stakeholder communication strategy)
  • elicitation techniques (eg lessons learned)
  • communication requirements analysis (frequency, recipient, communication vehicles)
48
Q

Outputs of the develop portfolio communication management plan process (2)

A
  • Portfolio management plan updates
  • Portfolio process assets updates
49
Q

Inputs of the manage portfolio information process (5)

A
  • portfolio
  • portfolio management plan
  • Portfolio reports
  • portfolio component reports
  • Portfolio Process assets
50
Q

Tools & Techniques of the manage portfolio information process (4)

A
  • elicitation techniques
  • PIMS
  • communication requirements analysis
  • communication methods (visual representation of data)
51
Q

outputs of the manage portfolio communication process (3)

A
  • portfolio management plan updates
  • portfolio reports
  • portfolio process assets updates
52
Q

Inputs of the develop portfolio risk management plan Process (4)

A
  • portfolio management plan
  • portfolio process assets
  • organizational process assets
  • enterprise environmental factors
53
Q

Tools of the develop portfolio risk management plan process (3)

A
  • weighted ranking & scoring techniques (single criterion, multiple criteria, scoring models)
  • graphical analytical methods (probability impact matrix)
  • qualitative & quantitative methods (status analysis, trend analysis, rebalancing methods, investment choice tools (market variability, trade- off- analysis,…)
54
Q

Output of the develop portfolio risk management Plan process (3)

A
  • portfolio management plan updates
  • portfolio process assets updates
  • organizational process assets updates
55
Q

Inputs for the manage portfolio risks process (6)

A
  • portfolio
  • portfolio management plan
  • Portfolio reports
  • portfolio process assets
  • organizational process assets
  • enterprise environmental factors
56
Q

Tools for the manage portfolio risks process (2)

A
  • weighted ranking & scoring techniques (single criterion, multiple criteria, scoring models)
  • quantitative &qualitative analysis (sensitivity analysis, trade off analysis, simulation eg what- if scenarios, variance- and trend analysis, NPV, ROI, IRR, payback or payback period)
57
Q

outputs of the manage portfolio risks process (4)

A
  • portfolio management plan updates
  • Portfolio reports
  • portfolio process assets updates
  • organizational process assets updates
58
Q

Def Finite capacity planning and reporting

A

Given the organizational objectives, this planning and reporting tool indicates resource bottlenecks and under and over allocations and is based on priorities that were agreed upon through governance oversight; and performs resource leveling across portfolio components.

59
Q

Def ressource Levelling (Sequencing technique)

A
  • strives to smooth performance levels by managing bottleneck areas and communicating delayed schedules if necessary.
  • Recommended changes, requests for more resources, and updates are communicated to the governing body when resource leveling does not produce sufficient results.
60
Q

High- level scope of the portfolio Charter (4)

A

provides the portfolio structure:
- hierarchy
- organization of portfolios, subportfolios, programs, projects and operations
- forecast how & when the portfolio will deliver value to the organization
- formally authorizes the portfolio manager to apply resources to the portfolio component

61
Q

High- level scope of the portfolio management plan (5)

A
  • portfolio justification, high level scope and timelines
  • establishes how a portfolio is defined, organized, optimized, and controlled
  • defines how and when the portfolio resources will be planned, balanced, and allocated to the portfolio components
  • is critical in closing the gap between organizational strategy and the fulfillment of that strategy.
  • a place to document updates including new measures, reports and processes for effective ongoing management of the portfolio value
62
Q

High- level steps to define a Portfolio in the define portfolio process (7)

A

identifying,
categorizing,
scoring,
ranking (evaluating)
prioritizing,
selecting,
allocating of ressources to portfolio components

63
Q

What is the difference between the Inventory of Work and the Portfolio component inventory?

A

Inventory of Work:
A list of active work that may be potential portfolio components

Portfolio Component Inventory:
Tool used in the define portfolio process; Preliminary Comparison of all inventoried Portfolio Components against the portfolio definition

64
Q

purpose of Capacity & Capability analysis in optimizing portfolio

A

enables the organization to achieve maximum portfolio benefits given current resource constraints

65
Q

where are agreements from oversight Meeting Minutes recorded ?

A

in the portfolio process assets, not in the portfolio reports. Meeting minutes are a part of the portfolio process assets

66
Q

Components of the capacity & capability analysis in the develop portfolio performance management plan process (5)

A
  • resource types
  • resource schedules (histograms)
  • what - if - scenarios
  • finite capacity & capability planning & reporting
  • resource management tools
67
Q

For which goal is the capacity & capability analysis in the develop portfolio performance management plan used?

A

to understand the human, financial, and asset capacity and capability of the organization in order to select, fund, and execute portfolio components.

68
Q

Components of the portfolio performance management plan (7)

A
  • Introduction (goals, objectives, strategies, and tactics);
  • Performance roles and responsibilities (who will measure and how often);
  • Performance measures, what will be measured, which can include metrics on scope, cost, resources, and benefits);
  • Performance reporting (what tools will be used; dissemination of reports, scorecards, and dashboards; and who will be responsible and when);
  • Resource optimization (utilization, balancing, and smoothing resource demand against capacity)
  • Benefits realization (how will realized benefits be tracked and compared to plans; how will value be calculated).
69
Q

What is the difference between ressource Levelling (Sequencing technique) and finite capacity planning?

A

resource leveling focuses on balancing resource demand and availability by adjusting the project schedule, while finite capacity planning focuses on allocating resources based on their specific capacity limits and constraints. Both techniques aim to optimize resource utilization and prevent resource-related issues but employ different approaches to achieve their objectives.

70
Q

Communication strategy for stakeholders with high Influence (2)

A
  • low Interest: active communication
  • high Interest: active communication & engagement
71
Q

How can risk management processes be mapped to the process groups? (3)

A

Risk Assessment - Defining
Risk planning - aligning
Risk Response - authorize & control

72
Q

Content of the risk register (7) and where can the risk register be found?

A
  • list of identified risks (incl. positive risks)
  • causes & assumptions for identified risks
  • risk owner (ccountable for effective management of the corresponding risk)
  • list of potential responses
  • Probability Impact Assessment
  • risk triggers
  • updated risk categories

Risk register is part of the portfolio process assets

73
Q

what does the risk watch list contain?

A

risks with obviously low ratings of probability and impact that are not retained for additional work

74
Q

Content of the portfolio risk management plan (5)

A
  • methodology (approaches, tools, data sources)
  • roles & responsibilities (owners, lead, support, team members & responsibilities)
  • risk measures (risk categories and criteria for probability and impact,risk tolerances)
  • frequency (of the risk management processes)
  • risk categories
75
Q

Stages to manage portfolio risks (4)

A

1) risks are identified,
(2) risks are analyzed,
(3) risk responses are developed, and
(4) risks are monitored and controlled throughout the Manage Portfolio Risk process

76
Q

what does the distance between the best case scenario and the worst case scenario concerning the level of risk indicate?

A

when the distance is closer, the person is risk averse; if the distance is higher, the person is a risk taker

77
Q

def trade-off analysis

A

determines the effect of changing one or more factors of the portfolio

78
Q

def market-payoff variability

A

focuses on pricing and sales forecasts and depends on a number of marketing factors, whereby the effects of changing one or more of these factors may affect portfolio itself or the portfolio strategy

79
Q

def Budget variability

A

determines the effect of changing the portfolio

80
Q

def performance variability

A

analyzes the performance of the portfolio;

81
Q

def market requirement variability

A

analyzes changes in market requirements in relation to the portfolio

82
Q

Content of the burnup and burndown charts

A

The Burn-up and Burn-down charts show the execution of the portfolio against the overall budget and time. The Burn-up chart especially shows how much work has been completed and the total amount of work

83
Q

at which level are Performance measures and targets (metrics) set?

A

at the portfolio component level and then rolled up to the portfolio level to determine overall portfolio impact.

84
Q

High level purpose of the portfolio strategic plan

A

Articulates the options, preferences, and factors that will be considered in a specific portfolio

85
Q

examples of components of portfolio reports (4)

A
  • portfolio status or progress reports
  • performance reports
  • portfolio risk reports (incl. issues in the issue register)
  • summary reports from the overall governance of portfolio components (incl. Governance decisions)
86
Q

examples of components of portfolio process assets (10)

A
  • Portfolio manager roles and responsibilities,
  • Status reports,
  • Portfolio risk profile or risk assessment with key risks and issues,
  • Portfolio forecasts with variance to plan,
  • Governance decisions,
  • Funding decisions,
  • Resource decisions,
  • Portfolio value assessments,
  • Delegations of responsibility for communication.
  • meeting minutes
  • risk register
87
Q

Content of a stakeholder matrix (4)

A
  • roles
  • interests
  • expectations
  • groups
88
Q

correct order for risk management activities (3)

A
  • Risk planning (incl. risk identification)
  • Risk assessment
  • risk response
89
Q

what do portfolios, programs and projects do concerning business value?

A

Portfolios optimize the pursuit of business value

Programs improve the generation of business value

Projects optimize the delivery of business value

PMI Portfolio Management (10 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions