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PfMP > Portfolio Strategic Management > Flashcards

Portfolio Strategic Management Flashcards

1
Q

Purpose of Develop Portfolio Strategic Plan?

A

Evaluating the high-level organization strategy/investment decisions and defining the strategy in portfolio-related strategic goals and objectives in the portfolio strategic plan

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2
Q

Purpose of Develop Portfolio Charter?

A

Creating the portfolio charter and identifying the portfolio structure and portfolio management team (if applicable) to align with the portfolio strategic plan

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3
Q

Purpose of Define Portfolio Roadmap?

A

Creating a high-level schedule showing the strategic plan for components to be implemented over time with any dependencies between them so that management may evaluate any conflicts or gaps between the roadmap and the organizational strategy and objectives

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4
Q

Purpose of Manage Strategic Change?

A
  • Evaluating and determining the responses to ongoing changes in organization strategy or portfolio components
  • Updating the portfolio management plan and subsidiary plans to reflect the impacts and response for portfolio management processes
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5
Q

Develop Portfolio Strategic Plan Inputs?

A

1 Organizational strategy and objectives
2 Inventory of work
3 Portfolio process assets
4 Organizational process assets
5 Enterprise environmental factors

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6
Q

Develop Portfolio Strategic Plan Tools and Techniques?

A

1 Portfolio component inventory
2 Strategic alignment analysis
3 Prioritization analysis

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7
Q

Develop Portfolio Strategic Plan Outputs?

A

1 Portfolio strategic plan
2 Portfolio

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8
Q

Why is Organizational Strategy and Objectives an Input of Develop Portfolio Strategic Plan?

A

Because it provides provide long-term direction, vision, goals, and objectives

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9
Q

Why is Inventory of Work an Input of Develop Portfolio Strategic Plan?

A

Because it serves as a starting point for developing a portfolio

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10
Q

Why is Portfolio Process Assets an Input of Develop Portfolio Strategic Plan?

A

Because:
1. It provides references and guides the portfolio manager by the portfolio’s plans, policies, procedures, and guidelines
2. It provides various tools and templates, such as benefits analysis and reporting

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11
Q

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

A

Because It provides information and direction about the organizational strategy and objectives, vision and mission statements, prioritization, and resources that may influence the Develop Portfolio Strategic Plan process

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12
Q

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

A

It contributes corporate, environmental, and governmental variables to the Develop Portfolio Strategic Plan process
It influences the organizational strategy and objectives and may also impact the Develop Portfolio Strategic Plan process, particularly factors such as organizational structure, stakeholder risk tolerances, marketplace conditions, and human resources

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13
Q

How is the T&T of Portfolio Component Inventory used in the Develop Portfolio Strategic Plan process?

A

To define the portfolio in accordance with strategic direction and prioritization criteria by understanding the objectives, expected benefits, performance, and prioritization criteria

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14
Q

How is the T&T of Strategic Alignment Analysis used in the Develop Portfolio Strategic Plan process?

A
  • To indicate where there are gaps in focus, investment, or alignment within the portfolio
  • To validate portfolios or inventory of work against organizational strategy updates to ensure consistency with the evolving organizational mission, goals, and objectives
  • To determine whether it is preferable to add, modify, or terminate some components to ensure the portfolio objectives remain aligned with the organizational strategy and objectives
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15
Q

How is the T&T of Prioritization Analysis used in the Develop Portfolio Strategic Plan process?

A

To establish a prioritization model or approach that guides the ongoing decisions as to which
- portfolio components should be added, terminated, or changed
- prioritizes and balances the component mix over time

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16
Q

What are key contents of The portfolio strategic plan?

A

Portfolio vision and objectives
Organizational structure and organization areas
Measurable goals and guidance
Allocation of funds to different types of initiatives (portfolios, subportfolios) and how these contribute to the organizational strategy and objectives
Portfolio benefits, performance results, and value expected
Communication required to ensure successful change and implementation
Key assumptions, constraints, dependencies, and risks
Resources required by type and quantity
Portfolio prioritization model, a high-level prioritization, decision-making framework
Risk tolerance

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17
Q

What are addressed by The portfolio strategic plan?

A

The organizational strategy for the corporate, organization unit, functional or department level

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18
Q

Develop Portfolio Charter Inputs?

A

1 Portfolio strategic plan
2 Portfolio process assets
3 Enterprise environmental factors

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19
Q

Develop Portfolio Charter T&T?

A

1 Scenario analysis
2 Capability and capacity analysis

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20
Q

Develop Portfolio Charter Outputs?

A

1 Portfolio strategic plan updates
2 Portfolio charter
3 Portfolio process assets updates

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21
Q

Develop Portfolio Roadmap Inputs?

A

1 Portfolio strategic plan
2 Portfolio charter
3 Portfolio

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22
Q

Develop Portfolio Roadmap T&T?

A

1 Interdependency analysis
2 Cost-benefit analysis
3 Prioritization analysis

23
Q

Develop Portfolio Roadmap Outputs?

A

1 Portfolio roadmap

24
Q

Manage Strategic Change Inputs?

A

1 Portfolio strategic plan
2 Portfolio charter
3 Portfolio
4 Portfolio roadmap
5 Portfolio management plan
6 Portfolio process assets

25
Q

Manage Strategic Change T&T?

A

1 Stakeholder analysis
2 Gap analysis
3 Readiness assessment

26
Q

Manage Strategic Change Outputs?

A

1 Portfolio strategic plan updates
2 Portfolio charter updates
3 Portfolio updates
4 Portfolio roadmap updates
5 Portfolio management plan updates
6 Portfolio process assets updates

27
Q

Why is the Portfolio Strategic Plan an Input of Develop Portfolio Charter?

A

It guides the process
It provides necessary information such as the portfolio vision and objectives, the benefits expected, and the key risks, dependencies, and constraints
It provides the prioritization model as a decision framework to structure the portfolio components

28
Q

Why is Portfolio Process Assets an Input of Develop Portfolio Charter?

A

It provides
- portfolio’s plans, policies, procedures, and guidelines
- any existing documentation of stakeholder relationships, scope, benefits, and portfolio goals

29
Q

Why is Enterprise Environmental Factors an Input of Develop Portfolio Charter?

A

Because corporate, environmental and governmental variables that may contribute to and constrain the Develop Portfolio Charter process
The portfolio structure in the charter may need to align with corporate accounting structure or with the functional structure of the organization

30
Q

How is the T&T of Scenario Analysis used in the Develop Portfolio Charter process?

A

To create a variety of portfolio scenarios using different combinations of both potential components and current components, evaluating their possible outcomes based on various assumptions
To determine the portfolio structure and objectives for inclusion in the portfolio charter.

31
Q

How is the T&T of Capability and Capacity Analysis used in the Develop Portfolio Charter process?

A
  • To understand how much work is able to be performed based on the resources available (capacity), as well as the ability of the organization to source and execute the selected portfolio
  • To determine the constraints generated by certain skill set limitations, financial constraints, and other asset capacity factors (capability)
32
Q

Why is Portfolio Strategic Plan Updates an Output of Develop Portfolio Charter?

A

To reflect resulting changes from defining the portfolio structure

33
Q

Why is Portfolio Process Asset Updates an Output of Develop Portfolio Charter?

A

Because The portfolio structure itself may be considered a guideline to identify the portfolio and subportfolios based on organization areas, hierarchies, and goals for each portfolio component

34
Q

Why is the Portfolio Strategic Plan an Input of Develop Portfolio Roadmap?

A

It reflects the organizational goals, objectives, and strategies necessary to enable
alignment of the portfolio roadmap.
It provides the portfolio prioritization model that establishes the guidelines to prioritize portfolio components

35
Q

Why is the Portfolio Charter an Input of Develop Portfolio Roadmap?

A

It help to understand the portfolio structure, scope, constraints, dependencies, resources, and high-level timeline

36
Q

How is the T&T of Interdependency Analysis used in the Develop Portfolio Roadmap process?

A

To identify the dependencies the portfolio may have in relationship to other portfolios or to the portfolio environment

37
Q

How is the T&T of Cost-Benefit Analysis used in the Develop Portfolio Roadmap process?

A

To quantify estimated costs and benefits and lists qualitative considerations of alternative portfolio components for evaluation in determining the best course of action.

38
Q

How is the T&T of Prioritization Analysis used in the Develop Portfolio Roadmap process?

A

To compare strategic objectives, prioritize objectives, and perform strategic assessment against current enterprise portfolios

39
Q

Content of Portfolio Charter?

A
  • Portfolio objectives
  • Portfolio justification,
  • Portfolio sponsor(s)
  • Key and major stakeholders
  • Stakeholder Expectations and requirements
  • Communication requirements
  • Portfolio management roles and responsibilities
  • High-level scope
  • Resources
  • High-level timeline
  • Benefits
  • Critical success criteria,
  • Assumptions, constraints, dependencies
  • Risks
40
Q

Why is the Portfolio Strategic Plan an Input of Manage Strategic Change?

A

To ensure inclusion of the correct components within those organization areas with the highest strategic value
The executives’ and key stakeholders’ expectations and communication requirements need to be considered

41
Q

Why is the Portfolio Charter an Input of Manage Strategic Change?

A

To ensure the charter and portfolio remain in alignment and are updated as required

42
Q

Why is the Portfolio an Input of Manage Strategic Change?

A

To determine the required changes in the component mix and to align with the strategic direction through reviewing and evaluating

43
Q

Why is the Portfolio Roadmap an Input of Manage Strategic Change?

A

To ensure that it is in sync with changes in strategic direction that is essential in enabling management of the portfolio and demonstrating a clear path from the “as-is” to the “to-be” states

44
Q

Why is the Portfolio Management Plan an Input of Manage Strategic Change?

A

Because it should be reassessed and, if necessary, updated to ensure probable mission success based on the updated strategy

45
Q

Why is the Portfolio Process Assets an Input of Manage Strategic Change?

A

Because the portfolio manager references and is guided by the portfolio’s plans, policies, procedures, and guidelines (analysis and assessment tools and templates, …)

46
Q

How is the T&T of Stakeholder Analysis used in the Manage Strategic Change process?

A

To ensure continuity and align key stakeholders’ expectations with the changing strategy and resulting portfolio realignment
- analyzing stakeholder expectations and requirements
- identifying the stakeholders, determining expectations, evolving conditions, newly recognized pain points, problems or desires, change impacts, issues, risk tolerance, and concerns

47
Q

How is the T&T of Gap Analysis used in the Manage Strategic Change process?

A
  • To compare the current portfolio mix and components with the new strategic direction and the “to-be” organizational vision
  • To determine the gaps and changes needed in the portfolio mix in order that components may be added, changed, or terminated
48
Q

How is the T&T of Readiness Assessment used in the Manage Strategic Change process?

A
  • To assess how ready the organization is to perform the steps necessary to bridge the gap between the “as-is” portfolio state and the “to-be” state
  • To determine the if, when, what, and how of implementing the change
  • To point out any needs not yet addressed that are required in order to affect the change
49
Q

As an Output of Manage Strategic Change, what is content of Portfolio Strategic Plan Updates?

A

The prioritization model, benefits, assumptions, constraints, dependencies, and risks

50
Q

As an Output of Manage Strategic Change, what are content of Portfolio Charter Updates?

A
  • portfolio structure
  • key or major stakeholders and their communication requirements
51
Q

As an Output of Manage Strategic Change, what are content of Portfolio Updates?

A

Components may be added, delayed, or removed from the portfolio to enable alignment with the new strategy

52
Q

As an Output of Manage Strategic Change, what are content of Portfolio Roadmap Updates?

A

Changes in the portfolio components, timeline, and dependencies

53
Q

As an Output of Manage Strategic Changes, what are content of Portfolio Management Plan Updates?

A

Updates to the stakeholder engagement, communication management, performance, and risk

54
Q

As an Output of Manage Strategic Changes, what are content of Portfolio Process Assets Updates?

A
  • Information available from historic files on previous strategic change to the portfolio related people, processes, and technology
  • Performance metrics
  • Risk management
  • Lessons learned databases

PfMP (5 decks)

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