PfMP PMI Exam Questions and Free Practice Test

Question 19

Managing 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. When it comes to Managing portfolio risks, a risk owner, along with the portfolio manager, should select the strategy or mix of strategies most likely to be effective. Which of the following may be the responsibility of a risk owner when it comes to managing risks?

A. Select primary and alternative strategies

B. Make decisions to choose the most appropriate response strategy or mix of strategies and develop specific actions to implement those decisions

C. All of the options

D. Develop contingency plans and identify the conditions which trigger their execution

Correct Answer:C

Question 20

Aligning the portfolio with the strategic objectives starts by developing the Portfolio Strategic Plan. You are currently developing this plan and are looking for a document that provides you long-term direction. What are you looking for in this case?

A. Portfolio Strategic Plan

B. Inventory of Work

C. Portfolio Process Assets (PPAs)

D. Organizational strategy and objectives

Correct Answer:D

Question 21

Following a major organizational restructuring, new portfolios are currently being initiated. You have been assigned the position of portfolio manager on one of the major portfolios and are currently in strategic management. You are currently performing cost-benefit analysis. What is part of this analysis?

A. Qualifies estimated costs and benefits and lists quantitative considerations of alternative portfolio components

B. Quantifies estimated costs and benefits and lists qualitative considerations of alternative portfolio components

C. Quantitative considerations of alternative portfolio components

D. Qualifying estimated costs and benefits

Correct Answer:B

Question 22

While managing the portfolio value, it is important to know the different roles of responsibilities and accountabilities for the actual benefits realization in order to be able to aggregate the correct value from different components; in which document are these roles and responsibilities mentioned?

A. Portfolio Process Assets

B. Portfolio Management Plan

C. Portfolio Strategic Plan

D. Portfolio Charter

Correct Answer:B

Question 23

Ideally, the organization practices a policy of open communications on risks and encourages people to point any out at all levels, even if the risk does not affect one's own work and especially if it affects the portfolio. Different people, though, have different perspectives of the various portfolio risks based on their position in the organization. Assume a risk has been identified concerning the organization's operating model. This risk was identified by:

A. A functional manager

B. A PMO Director

C. An executive

D. The portfolio manager

Correct Answer:C

Question 24

You have already created portfolio scenarios (what-if analysis) by reviewing components against prioritization criteria and using analysis techniques (e.g., options analysis, risk analysis, SWOT analysis, financial analysis). You now want to recommend portfolio scenario(s) and related components, based on prioritization analysis/criteria. You are doing this in order to

A. Provide a guiding framework to operationalize the organizational strategic goals and objectives

B. Evaluate and select viable options

C. Create a basis for decision making

D. Provide governance with a rationale for decision making

Correct Answer:D

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