QUESTION: 5

Working to monitor the portfolio especially in terms of its value to the organization, you had each component manager prepare monthly variance reports. Of the components ranked in the top 10, six of them realized they would not require some of their initial funding and still would be completed as planned. This means:

Three-point estimating should be used as funds are allocated
Next year's budget can be adjusted
Historical data would be useful on estimates versus actual costs
The amount of contingency and management reserves can be decreased

Answer(s): B

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QUESTION: 6

Each time the Portfolio Governance Group meets the goal is to review the existing components and any that are proposed to ensure the portfolio has the best mix to attain strategic objectives. As the portfolio manager, you find these meetings, if facilitated accordingly, are effective decision-making sessions. However, you tend to have open issues after every meeting. These open issues:

Should be tracked in an issue register
Are managed as described in the charter
Are considered portfolio process assets
Require an owner to manage them until they are closed

Answer(s): C

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QUESTION: 7

Risks are very important to manage in portfolio management and organizations can choose to embrace risks with the potential of high rewards. As a portfolio manager, planning and managing risks is important. Risks are categorized in order to ease the process. Which of the following are considered as risk categories that a portfolio manager can use?

All of the options
Performance Risk, Regulatory Risk
Portfolio Component Risk, Market Risk
Organizational Risk, Image and Public Relation Risk

Answer(s): B

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QUESTION: 8

A new project manager was given an assignment on one of the components in your portfolio. What will you do as a portfolio manager in order to align the project manager with the strategic direction and integrate him/her with the work in progress?

Let him check the Project Charter and ask you in the case where he needs your help
Let him check the Portfolio Charter and ask you in the case where he needs your help
Update the roles and responsibilities in the Portfolio Management Plan
Train him on the portfolio management processes

Answer(s): C

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QUESTION: 5

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QUESTION: 8