PfM² Portfolio Exam Prep Quiz

PfM² Portfolio Exam Preparation Quiz

This Preparation Quiz will allow you to prepare for the PfM² Portfolio Certification Exams.

Make sure that you carefully read the Certification preparation instructions, and study the resources provided by your instructor.

Keep in mind that a passing score on the prep quiz does not guarantee your success in the actual certification exams.

Note that this version of the preparation quiz does not provide you with feedback on your results.

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1. According to the PfM² Governance Model, the Portfolio Advisory Committee (PfAC), provides information and insights from the perspective of the portfolio_______________________

a. services

b. operations

c. components

d. projects

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2. The Portfolio Manager (PfM) is accountable for the definition of the Portfolio Objectives and Characteristics.

a. False

b. True

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3. Risk management is critical ______________

a. where interdependencies exist between high-priority components.

b. where the cost of component failure is significant.

c. all the above.

d. when risks of one component raise risks in another component.

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4. The decision to add, remove or modify PfM² artefact templates as per the needs of the portfolio should be determined by _________________ .

a. all the above.

b. the formality required

c. the input of the Portfolio Advisory Committee (PfAC)

d. its complexity and size

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5. The PfM² Lessons Log is used to capture all the important decisions relating to the management and execution of the portfolio.

a. False

b. True

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6. PfM² provides ________ logs.

a. 6

b. 7

c. 4

d. 5

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7. When tailoring the PfM² Methodology, the following best practices should be followed (select the ones that apply):

a. Tailor the PfM² methodology based on the advice of the Component Representatives (CR)

b. Avoid simplifying the Methodology by eliminating whole parts.

c. Apply to the Portfolio Management Methodology the same level of tailoring applied to Programme and Project Levels.

d. Balance the level of rigour of application of the methodology expected with the resources required and the complexity such rigour results.

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8. The Portfolio Manager (PfM), with the support of the _______________ is responsible for portfolio monitoring

a. Portfolio Steering Committee (PfSC)

b. Portfolio Directing Group (PDG)

c. Portfolio Quality Assurance Officer (PQAO)

d. Portfolio Support Team (PfSO)

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9. Portfolio Change can come _________________

a. only from the components’ side.

b. only from the portfolio’s environment.

c. from the portfolio’s environment, or in the form of changes to the definition, planning, execution or expected results of the portfolio components.

d. only upon an explicit and justified request by the appointed Component Representatives (CR)

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10. One of the key responsibilities of the Portfolio Manager (PfM) is to manage the realisation of portfolio value through the consolidation of the __________________

a. benefits that each of the portfolio components aims to achieve.

b. none of the above.

c. outputs that each of the portfolio components aims to deliver.

d. relevant information in the Benefits Traceability Matrix.

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11. According to the PfM² Governance model, the Portfolio Directing Group (PDG) belongs to the following layer:

a. None of the above

b. Managing layer

c. Operational layer

d. Strategic layer

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12. Projects, programs and other work are referred to as the ____________of the portfolio.

a. components

b. balanced work

c. strategic parts

d. aligned priorities

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13. The Portfolio Directing Group (PDG) is accountable for all Portfolio-level artefacts, excluding the Benefits Matrix, for which the Portfolio Manager assumes the respective accountability.

a. True

b. False

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14. The Portfolio Manager(PfM) is accountable for the following activities:

a. None of the above

b. Identify Components, Evaluate Components, Plan Portfolio Capacity, Compose Portfolio

c. Identify Components, Evaluate Components, Plan Portfolio Capacity, Compose Portfolio, Approve Portfolio

d. Evaluate Components, Plan Portfolio Capacity, Compose Portfolio

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15. Determining what documentation is required is an important decision that should be made during the _________________

a. None of the above

b. Portfolio Inception

c. Portfolio Initiation

d. Portfolio Framework Definition

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16. The projects or programs of the portfolio have to be interdependent or directly related.

a. False

b. True

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17. The portfolio risk management approach is documented in the ____________________

a. Portfolio Risk Management Plan.

b. Portfolio Handbook.

c. Portfolio Charter.

d. Portfolio Risk Matrix.

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18. Portfolio Composition _________________________

a. should be finalised not later than the end of each financial year.

b. None of the above.

c. need not be a singular annual event.

d. should be executed once per year, following the organisation’s annual planning cycle.

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19. A portfolio can be a collection of _____________.

a. interdependent and directly related projects.

b. aligning and controlling processes.

c. projects and programs.

d. of components such as projects, programs, products, services and others.

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20. Identify the element that does not constitute a PfM² Mindset:

a. Invest in developing technical and behavioural competences to become better portfolio contributors.

b. Foster a culture of cross-organisational collaboration, clear communication, and accountability.

c. Maintain an outputs orientation towards all portfolio management activities

d. Remain mindful that portfolio management processes are there to serve the portfolio and organisational objectives, not the other way around.

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21. The Manage Strategic Alignment activity ensures that the portfolio performance is aligned with its objectives, as these are defined in the __________________, as well as with the strategic priorities of the organisation

a. Portfolio Charter

b. Portfolio Inception Report

c. Portfolio Handbook

d. Management Plan

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22. According to the PfM² Governance model, the portfolio layer, includes the following sub-layers:

a. Strategic, Directing, Managing and Component sub-layers

b. Directing, Managing and Component sub-layers

c. Strategic, Directing, and Managing sub-layers

d. Directing, Managing and Advisory sub-layers

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23. The goal of portfolio management is to ensure that the organization is ___________

a. doing work right.

b. doing the right work.

c. managing portfolio management staff properly.

d. all the above.

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24. Portfolio management includes processes for ___________

a. all the above.

b. identifying the organizational priorities.

c. making investments decisions.

d. allocating resources.

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25. The Portfolio Support Office (PfSO), provides administrative, communication, and process support to the Portfolio Directing Group (PDG).

a. Fanse

b. True

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26. Which of the Logs below are foreseen by the PfM² methodology?

(select the ones that apply)

a. Benefits Log

b. Lessons Log

c. Stakeholders Log

d. Risk Log

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27. The portfolio characteristics, metrics, processes, and governance bodies are established through the process of Portfolio _________________.

a. Composition.

b. Constitution.

c. Evaluation.

d. Framework Definition.

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28. The Portfolio Composition process requires as input information and artefacts created during the initiation of the components.

a. True

b. False

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29. The PfM² Methodology provides:

a. a portfolio governance structure.

b. all the above.

c. a set of effective portfolio mindsets.

d. a portfolio process model.

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30. Portfolio components are grouped together to facilitate the effective management of that work, to _________.

a. assure that all related components are managed together.

b. meet strategic business objectives.

c. adhere to company policy, based on strategic execution methods.

d. minimize the project failure rate.

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31. An organization evaluates the portfolio components using the tools and techniques described in the portfolio management methodology.

a. True

b. False

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32. The outputs of the Monitoring and Controlling activities are documented in the _________________

a. Portfolio Framework

b. Portfolio Logs and the Portfolio Composition andd Analysis Report

c. Portfolio Logs and the Portfolio Handbook

d. Portfolio Checklists and the Portfolio Composition and Analysis Report

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33. The below activities belong to the ________________ process:

a. Portfolio Exploitation

b. Portfolio Composition

c. Portfolio Management

d. Portfolio Framework Definition

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