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PfMP > Portfolio Strategic Management > Flashcards

Portfolio Strategic Management Flashcards

1
Q

Purpose of Develop Portfolio Strategic Plan?

A
  • Evaluating the high-level organization strategy/investment decisions
  • Defining the strategy in portfolio-related strategic goals and objectives in the portfolio strategic plan
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2
Q

Purpose of Develop Portfolio Charter?

A

Creating the portfolio charter and identifying the portfolio structure and portfolio management team (if applicable) to align with the portfolio strategic plan

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3
Q

Purpose of Define Portfolio Roadmap?

A

Creating a high-level schedule showing the strategic plan for components to be implemented over time with any dependencies between them so that management may evaluate any conflicts or gaps between the roadmap and the organizational strategy and objectives

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4
Q

Purpose of Manage Strategic Change?

A
  • Evaluating and determining the responses to ongoing changes in organization strategy or portfolio components
  • Updating the portfolio management plan and subsidiary plans to reflect the impacts and response for portfolio management processes (which result in a realignment of resources or adjustments in the portfolio component mix to support the strategic change)
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5
Q

Develop Portfolio Strategic Plan Inputs?

A

1 Organizational strategy and objectives
2 Inventory of work
3 Portfolio process assets
4 Organizational process assets
5 Enterprise environmental factors

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6
Q

Develop Portfolio Strategic Plan Tools and Techniques?

A

1 Portfolio component inventory
2 Strategic alignment analysis
3 Prioritization analysis

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7
Q

Develop Portfolio Strategic Plan Outputs?

A

1 Portfolio strategic plan
2 Portfolio

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8
Q

Why is Organizational Strategy and Objectives an Input of Develop Portfolio Strategic Plan?

A

Because it provides provide long-term direction, vision, goals, and objectives

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9
Q

Why is Inventory of Work an Input of Develop Portfolio Strategic Plan?

A

Because it serves as a starting point for developing a portfolio

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10
Q

Why is Portfolio Process Assets an Input of Develop Portfolio Strategic Plan?

A

Because:
1. It provides references and guides the portfolio manager by the portfolio’s plans, policies, procedures, and guidelines
2. It provides various tools and templates, such as benefits analysis and reporting

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11
Q

Why is Organizational Process Assets an Input of Develop Portfolio Strategic Plan?

A

Because It provides information and direction about the organizational strategy and objectives, vision and mission statements, prioritization, and resources that may influence the Develop Portfolio Strategic Plan process

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12
Q

Why is Enterprise Environmental Factors an Input of Develop Portfolio Strategic Plan?

A

It contributes corporate, environmental, and governmental variables to the Develop Portfolio Strategic Plan process
It influences the organizational strategy and objectives and may also impact the Develop Portfolio Strategic Plan process, particularly factors such as organizational structure, stakeholder risk tolerances, marketplace conditions, and human resources

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13
Q

How is the T&T of Portfolio Component Inventory used in the Develop Portfolio Strategic Plan process?

A

To define the portfolio in accordance with strategic direction and prioritization criteria by understanding the objectives, expected benefits, performance, and prioritization criteria

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14
Q

How is the T&T of Strategic Alignment Analysis used in the Develop Portfolio Strategic Plan process?

A
  • To indicate where there are gaps in focus, investment, or alignment within the portfolio
  • To validate portfolios or inventory of work against organizational strategy updates to ensure consistency with the evolving organizational mission, goals, and objectives
  • To determine whether it is preferable to add, modify, or terminate some components to ensure the portfolio objectives remain aligned with the organizational strategy and objectives
  • To map the schedule, then identify dependencies and potential conflicts in the plan
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15
Q

Factors that may indicate a need for a revision of the portfolio components in a Strategic Alignment Analysis

A
  • obsolete goals
  • opportunities to be pursued
  • response to regulatory changes
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16
Q

How is the T&T of Prioritization Analysis used in the Develop Portfolio Strategic Plan process?

A

To establish a prioritization model or approach that guides the ongoing decisions as to which
- portfolio components should be added, terminated, or changed
- prioritizes and balances the component mix over time

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17
Q

What are key contents of The portfolio strategic plan?

A
  • Portfolio vision and objectives
  • Organizational structure and organization areas
  • Measurable goals and guidance
  • Portfolio benefits, performance results, and value expected
  • Allocation of funds to different types of initiatives (portfolios, subportfolios) and how these contribute to the organizational strategy and objectives
  • Resources required by type and quantity
  • Communication required to ensure successful change and implementation
  • Key assumptions, constraints, dependencies, and risks
  • Portfolio prioritization model, a high-level prioritization, decision-making framework
  • Risk tolerance
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18
Q

What are addressed by The portfolio strategic plan?

A

The organizational strategy for the corporate, organization unit, functional or department level

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19
Q

Develop Portfolio Charter Inputs?

A

1 Portfolio strategic plan
2 Portfolio process assets
3 Enterprise environmental factors

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20
Q

Develop Portfolio Charter T&T?

A

1 Scenario analysis
2 Capability and capacity analysis

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21
Q

Develop Portfolio Charter Outputs?

A

1 Portfolio strategic plan updates
2 Portfolio charter
3 Portfolio process assets updates

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22
Q

Develop Portfolio Roadmap Inputs?

A

1 Portfolio strategic plan
2 Portfolio charter
3 Portfolio

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23
Q

Develop Portfolio Roadmap T&T?

A

1 Interdependency analysis
2 Cost-benefit analysis
3 Prioritization analysis

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24
Q

Develop Portfolio Roadmap Outputs?

A

1 Portfolio roadmap

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25
Q

Manage Strategic Change Inputs?

A

1 Portfolio strategic plan
2 Portfolio charter
3 Portfolio
4 Portfolio roadmap
5 Portfolio management plan
6 Portfolio process assets

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26
Q

Manage Strategic Change T&T?

A

1 Stakeholder analysis
2 Gap analysis
3 Readiness assessment

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27
Q

Manage Strategic Change Outputs?

A

1 Portfolio strategic plan updates
2 Portfolio charter updates
3 Portfolio updates
4 Portfolio roadmap updates
5 Portfolio management plan updates
6 Portfolio process assets updates

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28
Q

Why is the Portfolio Strategic Plan an Input of Develop Portfolio Charter?

A
  • It guides the process
  • It provides necessary information such as the portfolio vision and objectives, the benefits expected, and the key risks, dependencies, and constraints
  • It provides the prioritization model as a decision framework to structure the portfolio components
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29
Q

Why is Portfolio Process Assets an Input of Develop Portfolio Charter?

A

It provides
- portfolio’s plans, policies, procedures, and guidelines
- any existing documentation of stakeholder relationships, scope, benefits, and portfolio goals

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30
Q

Why is Enterprise Environmental Factors an Input of Develop Portfolio Charter?

A

Because corporate, environmental and governmental variables that may contribute to and constrain the Develop Portfolio Charter process
The portfolio structure in the charter may need to align with corporate accounting structure or with the functional structure of the organization

31
Q

How is the T&T of Scenario Analysis used in the Develop Portfolio Charter process?

A

To create a variety of portfolio scenarios using different combinations of both potential components and current components, evaluating their possible outcomes based on various assumptions
To determine the portfolio structure and objectives for inclusion in the portfolio charter.

32
Q

How is the T&T of Capability and Capacity Analysis used in the Develop Portfolio Charter process?

A
  • To understand how much work is able to be performed based on the resources available (capacity), as well as the ability of the organization to source and execute the selected portfolio
  • To determine the constraints generated by certain skill set limitations, financial constraints, and other asset capacity factors (capability)
33
Q

Why is Portfolio Strategic Plan Updates an Output of Develop Portfolio Charter?

A

To reflect resulting changes from defining the portfolio structure (changes in organization areas, updates to the organizational structure of the portfolio, updates in relationships, dependencies, and goals of the portfolio components)

34
Q

Why is Portfolio Process Asset Updates an Output of Develop Portfolio Charter?

A
  • The portfolio structure itself may be considered a guideline to identify the portfolio and subportfolios based on organization areas, hierarchies, and goals for each portfolio component
  • The formal and informal plans, policies, procedures, and guidelines may need to be updated
35
Q

Why is the Portfolio Strategic Plan an Input of Develop Portfolio Roadmap?

A
  • It reflects the organizational goals, objectives, and strategies necessary to enable alignment of the portfolio roadmap.
  • It provides the portfolio prioritization model that establishes the guidelines to prioritize portfolio components
36
Q

Why is the Portfolio Charter an Input of Develop Portfolio Roadmap?

A

It help to understand the portfolio structure, scope, constraints, dependencies, resources, and high-level timeline

37
Q

How is the T&T of Interdependency Analysis used in the Develop Portfolio Roadmap process?

A

To identify the dependencies the portfolio may have in relationship to other portfolios or to the portfolio environment

38
Q

How is the T&T of Cost-Benefit Analysis used in the Develop Portfolio Roadmap process?

A

To quantify estimated costs and benefits and lists qualitative considerations of alternative portfolio components for evaluation in determining the best course of action.

39
Q

How is the T&T of Prioritization Analysis used in the Develop Portfolio Roadmap process?

A
  • Comparing strategic objectives, prioritize objectives
  • Performing strategic assessment against current enterprise portfolios
40
Q

Content of Portfolio Charter?

A
  • Portfolio objectives
  • Portfolio justification,
  • Portfolio sponsor(s)
  • Portfolio management roles and responsibilities
  • Key and major stakeholders
  • Stakeholder Expectations and requirements
  • Communication requirements
  • High-level scope
  • Resources
  • High-level timeline
  • Benefits
  • Critical success criteria,
  • Assumptions, constraints, dependencies
  • Risks
41
Q

Why is the Portfolio Strategic Plan an Input of Manage Strategic Change?

A
  • To ensure inclusion of the correct components within those organization areas with the highest strategic value
  • The executives’ and key stakeholders’ expectations and communication requirements need to be considered
42
Q

Why is the Portfolio Charter an Input of Manage Strategic Change?

A

To ensure the charter and portfolio remain in alignment and are updated as required

43
Q

Why is the Portfolio an Input of Manage Strategic Change?

A

To determine the required changes in the component mix and to align with the strategic direction through reviewing and evaluating

44
Q

Why is the Portfolio Roadmap an Input of Manage Strategic Change?

A
  • To ensure that it is in sync with changes in strategic direction that is essential in enabling management of the portfolio
  • To demonstrate a clear path from the “as-is” to the “to-be” states
45
Q

Why is the Portfolio Management Plan an Input of Manage Strategic Change?

A

Because it should be reassessed and, if necessary, updated to ensure probable mission success based on the updated strategy

46
Q

Why is the Portfolio Process Assets an Input of Manage Strategic Change?

A

Because the portfolio manager references and is guided by the portfolio’s plans, policies, procedures, and guidelines (analysis and assessment tools and templates, …)

47
Q

How is the T&T of Stakeholder Analysis used in the Manage Strategic Change process?

A

To ensure continuity and align key stakeholders’ expectations with the changing strategy and resulting portfolio realignment
- analyzing stakeholder expectations and requirements
- identifying the stakeholders, determining expectations, evolving conditions, newly recognized pain points, problems or desires, change impacts, issues, risk tolerance, and concerns

48
Q

How is the T&T of Gap Analysis used in the Manage Strategic Change process?

A
  • To compare the current portfolio mix and components with the new strategic direction and the “to-be” organizational vision
  • To determine the gaps and changes needed in the portfolio mix in order that components may be added, changed, or terminated
49
Q

How is the T&T of Readiness Assessment used in the Manage Strategic Change process?

A
  • To assess how ready the organization is to perform the steps necessary to bridge the gap between the “as-is” portfolio state and the “to-be” state
  • To determine the if, when, what, and how of implementing the change
  • To point out any needs not yet addressed that are required in order to affect the change
50
Q

As an Output of Manage Strategic Change, what is content of Portfolio Strategic Plan Updates?

A

The prioritization model, benefits, assumptions, constraints, dependencies, and risks

51
Q

As an Output of Manage Strategic Change, what are content of Portfolio Charter Updates?

A
  • portfolio structure
  • key or major stakeholders and their communication requirements
52
Q

As an Output of Manage Strategic Change, what are content of Portfolio Updates?

A

Components may be added, delayed, or removed from the portfolio to enable alignment with the new strategy

53
Q

As an Output of Manage Strategic Change, what are content of Portfolio Roadmap Updates?

A

Changes in the portfolio components, timeline, and dependencies

54
Q

As an Output of Manage Strategic Changes, what are content of Portfolio Management Plan Updates?

A
  • Updates are needed due to changes in management approach, priorities, organizational structure
  • Updates to the stakeholder engagement, communication management, performance, and risk
55
Q

As an Output of Manage Strategic Changes, what are content of Portfolio Process Assets Updates?

A
  • information available from historic files on previous strategic change to the portfolio-related people, processes, and technology
  • performance metrics
  • risk management
  • lessons learned databases
56
Q

Key Activities of Develop Portfolio Strategic Plan process

A
  • Developing the Portfolio Strategic Plan
  • Aligning with Organizational Strategy
57
Q

Alignment Factors Considered in Develop Portfolio Strategic Plan

A
  • portfolio management objectives
  • requirements
  • prioritization
  • allocation of funds
  • resources
  • organizational benefits
  • performance expectations
  • assumptions, constraints, dependencies
  • risks
58
Q

Components of Portfolio Roadmap

A
  • The roadmap includes a high-level plan and highlights both internal and external dependencies.
  • It may contain program-level and project-level roadmaps within the portfolio’s scope.
  • Initially, roadmaps might not include detailed information on all portfolio components, but they serve as a foundation to build these details over time.
59
Q

How can Portfolio Roadmap help manage the portfolio?

A
  • To show alignment from the components to the strategic objectives or highlights the gaps between the components and the strategic objectives that need to be analyzed.
  • To support mapping of portfolio milestones and dependencies
  • To identify the challenges and risks.
  • To be used to communicate the linkage between the organization strategy and portfolio management
  • To be used by the governance processes to determine when new components should be initiated
  • To establish and track internal and external dependencies
  • To provide a high-level view of the prioritization of portfolio components over time.
60
Q

Scoring elements of strategic plan’s prioritization model

A
  • strategic alignment
  • financial benefits
  • financial costs
  • risk
  • dependencies
61
Q

Areas of Interdependency Analysis?

A
  • resources
  • finance
  • quality
  • risks
  • timelines
62
Q

Participants of Interdependency Analysis?

A

executive level and other key stakeholders

63
Q

Why is Portfolio an output of Develop Portfolio Strategic Plan?

A

This initial portfolio based on a list of work is defined in accordance with strategic direction (objectives, expected benefits, performance) and prioritization criteria, and may be further elaborated

64
Q

Why is Portfolio Updates an output of Manage Strategic Change

A

Because when a strategic change is made, components may be added, delayed, or removed from the portfolio to enable alignment with the new strategy.

65
Q

Key Activities of Manage Strategic Change process

A
  • Analyzing the Impact of Strategic Change
  • Comparing the “as-is” state with the “to-be” state: Assess the current portfolio mix and components against the new strategic direction.
  • Identifying potential gaps and misalignments: Determine which portfolio components need to be added, changed, or terminated to align with the new strategic direction.
  • Assessing the impact on resources: Evaluate the impact of strategic change on resource allocation (people, processes, assets, technology)
  • Assessing Organizational Readiness:
  • Conducting a readiness assessment: Determine the “if, when, what, and how” of implementing the change, identifying any unmet needs that require attention.
  • Addressing identified gaps and weaknesses: Ensure that the organization has the necessary resources, capabilities, and processes to successfully implement the change.
  • Engaging Stakeholders:
  • Analyzing stakeholder needs and expectations: Use tools like interviews and surveys to understand stakeholders’ perspectives on the changing strategy and resulting portfolio realignment.
  • Communicating changes effectively: Ensure that stakeholders are informed about the changes, understand the rationale behind them, and have opportunities to provide feedback.
  • Building consensus and support: Address concerns and ensure buy-in from key stakeholders for a smoother transition.
  • Reworking the Portfolio Documents
66
Q

Develop Portfolio Strategic Plan out-flow

A

Develop Portfolio Charter
Develop Portfolio Roadmap
Manage Strategic Change

67
Q

Develop Portfolio Strategic Plan in-flow

A

(None)

68
Q

Develop Portfolio Charter in-flow

A

Develop Portfolio Strategic Plan

69
Q

Develop Portfolio Charter out-flow

A

Develop Portfolio Roadmap
Manage Strategic Change

70
Q

Develop Portfolio Roadmap out-flow

A

Manage Strategic Change

71
Q

Develop Portfolio Roadmap in-flow

A

Develop Portfolio Strategic Plan
Develop Portfolio Charter

72
Q

How is the portfolio structure developed in Develop Portfolio Charter?

A

Portfolio components are grouped based on strategies and priorities

73
Q

The structure identifies the portfolio, subportfolios, programs, and projects based on which?

A

Organization areas included, hierarchies, timelines, and goals for each program, project, and operation

74
Q

What does the portfolio charter authorize the portfolio manager to do?

A
  • to apply portfolio resources to portfolio components
  • to execute the portfolio management processes

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