A key role for portfolio management is to balance the use of resources following the need against the existing skill-set. One of the component managers told you that an important SME on his program is traveling and there is no replacement for her. This will cause a major delay in the program. What is your first step as a portfolio manager?
A. Do interdependency management and see the impactRoadmaps may be prepared to show different elements, and at the beginning they may not provide details of the various components. As a high-level plan at the portfolio level, the roadmap:
A. Identifies internal and external dependenciesManaging risk is key to the success of any initiative. Risk is considered to be inherent in any activity we do in project management and at any level. Risk is part of project, program and portfolio management and has a different exposure in each and every one. You are currently developing the guidelines and approaches for managing risks and are looking for methods to help you. What are you looking for?
A. Weighted Ranking and scoring techniques, Quantitative and Qualitative AnalysisYou have just finalized aggregating value from the ongoing components to present a consolidated report to the governance board, in addition to recommending changes to portfolio and information to enable a better decision making. You are now looking for a place to document updates including new measures, reports and processes for effective ongoing management of the portfolio value. In which of the following documents are these measures included?
A. Portfolio Management Plan updatesYou 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 to attain the end goal and achieve the expected strategy. You are currently defining the portfolio and with the purpose of
A. Creating an up-to-date list of qualified portfolio componentAssume you are working to ensure your organization has a balanced portfolio. You have decided to use a bubble diagram and have set it up to show the components in terms of: ease of execution [difficult or easy] and component importance [high or low]. In such an approach, bubbles are used to:
A. Visualize componentsThe company's management is not happy with the bared risk for the expected Portfolio value return and has reached a subject matter expert to try to re-align the risk level with the management expectations. The expert stated that it is preferable to diversify the portfolio components in order to get more results. In that case, you
A. Disagree with the expert because the company should have came to you before reaching an outside-partyAssume you work in a weak matrix structure in your pharmaceutical company in which most of the program and project managers are coordinators, and most of the staff that supports them are in functional organizations. On some high priority programs, staff may be dedicated to the program full time for a short time period; however, operational work often takes precedence especially in manufacturing. The demand for some of the pharmaceutical products often outpaces the available supply, and shelf life is short. These fluctuations of resources then:
A. Require use of resource smoothingYour company got recently acquired by another company and the strategic directions which your portfolio is based on have been changed. Which document do you, as a portfolio manager, change to reflect the portfolio new vision?
A. Portfolio Strategic PlanWorking as the portfolio manager for your business unit of a major aerospace organization means you have a variety of programs, projects, and operational activities under way. You have set up a number of reports on the progress of the portfolio for your various stakeholders, but the best approach is to monitor the progress of the portfolio against:
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