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PfMP > Portfolio Performance Management > Flashcards

Portfolio Performance Management Flashcards

1
Q

Purpose of Develop Portfolio Performance Management Plan?

A

Developing the performance management plan as to how portfolio value is defined and realized through the portfolio measurements and targets, alignment to organizational strategy and objectives, and roles and responsibilities in executing the plan

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2
Q

Purpose of Manage Supply and Demand?

A

Identifying and allocating the required portfolio resources capacity and capabilities according to each component proposal or plan

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3
Q

Purpose of Manage Portfolio Value?

A

Measuring, capturing, validating, and reporting portfolio value at an aggregate level delivered by portfolio components with the goal of maximizing return on investment (within an acceptable level of risk)

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4
Q

Develop Portfolio Performance Management Plan Inputs?

A
  1. Portfolio management plan
  2. Portfolio process assets
  3. Organizational process assets
  4. Enterprise environmental factors
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5
Q

Develop Portfolio Performance Management Plan T&Ts?

A
  1. Elicitation techniques
  2. Portfolio management information system
  3. Capability and capacity analysis
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6
Q

Develop Portfolio Performance Management Plan Outputs?

A
  1. Portfolio management plan updates
  2. Portfolio process assets updates
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7
Q

Manage Supply and Demand Inputs?

A
  1. Portfolio
  2. Portfolio management plan
  3. Portfolio reports
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8
Q

Manage Supply and Demand T&Ts?

A
  1. Scenario analysis
  2. Quantitative and qualitative analysis
  3. Capability and capacity analysis
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9
Q

Manage Supply and Demand Outputs?

A
  1. Portfolio updates
  2. Portfolio management plan updates
  3. Portfolio reports
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10
Q

Manage Portfolio Value Inputs?

A
  1. Portfolio roadmap
  2. Portfolio management plan
  3. Portfolio reports
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11
Q

Manage Portfolio Value Inputs?

A
  1. Portfolio roadmap
  2. Portfolio management plan
  3. Portfolio reports
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12
Q

Manage Portfolio Value T&Ts?

A
  1. Elicitation techniques
  2. Value scoring and measurement analysis
  3. Benefits realization analysis
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13
Q

Manage Portfolio Value Outputs?

A
  1. Portfolio management plan updates
  2. Portfolio reports
  3. Portfolio process assets updates
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14
Q

Why is Portfolio Management Plan an Input of Develop Portfolio Performance Management Plan?

A

Because it provides stakeholder expectations and requirements, governance model, strategic change framework, planning, procurement, and oversight processes including direction for performance, communication, and risk management

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15
Q

Why is Portfolio Process Assets an Input of Develop Portfolio Performance Management Plan?

A

(Because PPAs help developing plans)

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16
Q

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

A

Because it may provide direction to develop the portfolio performance management plan

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17
Q

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

A

Because those EEFs impacts the portfolio performance management plan, such as organizational culture, structure, and human resources

18
Q

How is the T&T of Elicitation Techniques used in Develop Portfolio Performance Management Plan?

A

To develop measures and to ensure that the correct items are being measured
- to ensure optimal resource performance
- to maximum portfolio value

19
Q

How is the T&T of Portfolio Management Information System used in Develop Portfolio Performance Management Plan?

A
  • The PMIS may provide methods by which internal consistency can be observed and portfolio performance metrics can be collected, monitored, and controlled
  • The PMIS may also be used to provide previously used measures and templates for reporting
  • The PMIS may include costs, performance metrics, risk information, and other information needed to manage and control portfolio performance
  • The PMIS can also support performance improvement measures
20
Q

How is the T&T of Capability and Capacity Analysis used in Develop Portfolio Performance Management Plan?

A

To understand the human, financial, and asset capacity and capability of the organization in order to select, fund, and execute portfolio components

21
Q

Why is Portfolio Management Plan Updates an Output of Develop Portfolio Performance Management Plan?

A

Because The portfolio performance management plan is a component of or a subsidiary plan of the portfolio management plan

22
Q

Why is Portfolio Process Assets Updates an Output of Develop Portfolio Performance Management Plan?

A

Because as PPAs, the resource schedule, funding schedule, benefits schedule, and portfolio component schedule may be updated after completion of planning for portfolio performance

23
Q

Content of Portfolio Performance Management Plan?

A

Goals, objectives, strategies, and tactics
Roles and responsibilities (who will measure and how often)
Performance measures, which can include metrics on scope, cost, schedule, resources, and benefits
Performance reporting (what tools will be used; dissemination of reports, scorecards, and dashboards; and who will be responsible and when);
Resource optimization (utilization, balancing, and smoothing resource demand against capacity)
Benefits realization (how will realized benefits be tracked and compared to plans; how will value be calculated)
Procedures for capturing lessons learned

24
Q

Why is Portfolio an Input of Manage Supply and Demand?

A

Because It represents resource requirements or demand and Components are prioritized to help guide resource allocation

25
Q

Why is Portfolio Management Plan an Input of Manage Supply and Demand?

A

Because
- It defines how the portfolio will be executed, monitored, and controlled to meet organizational strategy and objectives
- It provides the high-level guidelines for reporting risks, communicating with the portfolio management team, engaging stakeholders, recommending portfolio component changes

26
Q

Why is Portfolio Reports an Input of Manage Supply and Demand?

A

Because they are used for analyzing and managing supply and demand
- resource utilization reports
- vacation schedules
- reports on any related equipment or software delivery and/or availability
- financial reports to show funding updates

27
Q

How is the T&T of Scenario Analysis used in Manage Supply and Demand?

A
  • To determine various possibilities of resource allocations and the impact to component schedules
  • To determine what would happen if human, financial, or equipment funding was increased or decreased, or if constrained resources were not available as scheduled
  • To ensure that the organization is prepared for changes in demand or changes to resource supplies
28
Q

How is the T&T of Quantitative and Qualitative Analysis used in Manage Supply and Demand?

A
  • To studying the demand for resources against capacity and constraints to determine how to best allocate resources
  • To determine if resource requirements have been consistently underestimated or if resources are consistently over or under performing and adjustments need to be made (Trend analysis)
  • To adjust the resource supply as well as manage project demand based on the drivers of the portfolio
29
Q

How is the T&T of Capability and Capacity Analysis used in Manage Supply and Demand?

A
  • To study the capability of resources (e.g., skill sets and certifications), match them against the portfolio’s objectives and goals
  • To translate the capability into what capacity is possible to meet the portfolio demands
30
Q

Why is Portfolio Updates an Output of Manage Supply and Demand?

A

Because
- Portfolio resource allocations and schedules may be updated as a result of supply and demand analysis
- Recommendations may be presented to the governing body to make changes to the portfolio component mix

31
Q

Why is Portfolio Management Plan Updates an Output of Manage Supply and Demand?

A

Because analysis may result in recommendations to update resource management strategies in the portfolio management plan

32
Q

Why is Portfolio Reports an Output of Manage Supply and Demand?

A

Because the reports help the governing body make informed decisions on resources to best achieve organizational objectives
- Resource utilization or resource efficiency reports
- Burn-down or burn-up charts, funnel charts, bubble charts, histograms

33
Q

Why is Portfolio Roadmap an Input of Manage Portfolio Value?

A

Because it provides a high-level timeline for expected portfolio component delivery

34
Q

Why is Portfolio Management Plan an Input of Manage Portfolio Value?

A

Because it provides for
- The continual identification and assessment of the value of the portfolio benefits and the impact on the organizational objectives,
- The identification and monitoring of the interdependencies between the benefits being delivered by the various portfolio components
- The analysis of the potential impact of planned portfolio component changes on benefits outcome
- The assignment of responsibilities and accountability for the actual realization of benefits provided by the portfolio components

35
Q

Why is Portfolio Reports an Input of Manage Portfolio Value?

A

Because it provides information on aggregate portfolio component performance (time, cost, and scope), progress against plans, updated forecasts of expected value to be delivered, and variance reports

36
Q

How is the T&T of Elicitation Techniques used in Manage Portfolio Value?

A

To assess criteria and to discern the weight assigned to different benefits and outcomes
To ensure benefits are comprehensively and holistically taken into consideration (SWOT)

37
Q

How is the T&T of Value Scoring and Measurement Analysis used in Manage Portfolio Value?

A
  • Scoring models: To consistently document and assess financially intangible portfolio benefits (those benefits that cannot be assessed using financial return on investment methods)
  • Cost-Benefit Analysis: to define the benefits that will be provided by the portfolio and compare them to the costs of the portfolio
  • Comparative Advantage Analysis (against a strategic objective or portfolio component proposal): To consider if competing efforts may reside within or external to the organization Or how the portfolio component and its intended benefits could be achieved by various options
  • Progress measurement techniques: To measure and report portfolio progress
  • Value measurement techniques: To measure and report portfolio performance
  • Portfolio Efficient Frontier: To optimize portfolios given the resource constraints
38
Q

How is the T&T of Benefits Realization Analysis used in Manage Portfolio Value?

A
  • Results chain: To identify the specific contributions that each portfolio component makes to the overall portfolio value and to show gaps and overlaps that need to be addressed to more effectively or efficiently realize planned benefits
  • Outcome probability analysis of the portfolio: To estimate the potential portfolio outcomes with respect to success criteria, listing the possible values of the corresponding performance indicators with their associated confidence levels
39
Q

Why is Portfolio Management Plan Updates an Output of Manage Portfolio Value?

A

Because it may be updated to identify new reporting, new measures, other processes, changes in roles and responsibilities for managing the portfolio

40
Q

Why is Portfolio Reports an Output of Manage Portfolio Value?

A

Because they provide information about the performance, forecasts of the portfolio, variances, analysis of the variances, and recommendations to be considered by the governing body

41
Q

Why is Portfolio Process Assets Updates an Output of Manage Portfolio Value?

A

Because
- Lessons learned may be captured
- It may be needed to update best practice descriptions, training guides, and educational documentation and standards for policy, process, procedures, or tools for managing value

PfMP (5 decks)

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