Task 2 PFMP Practice Questions (Page 4)

Questions 16–20

1. 16expert · hard

   A portfolio manager is analyzing stakeholder needs for a portfolio that is facing budget constraints. The finance department expects detailed cost reports, while the project managers need to know about budget changes that affect their projects. The portfolio manager has limited time to communicate. What should the portfolio manager do to balance the needs of these stakeholders?

   • AProvide budget change notifications to project managers and let the finance department request reports as needed.
   • BAnalyze the needs of each group and develop a communication plan that provides the finance department with detailed cost reports and project managers with timely budget change notifications.
   • CFocus on the finance department's needs because they control the budget.
   • DProvide the same detailed cost report to both groups to ensure consistency.
   Reveal Solution Discussion Select an answer first
2. 17application · medium

   A portfolio manager receives feedback from a stakeholder survey indicating that project managers find the weekly email updates too lengthy and prefer a brief summary with links to detailed reports. The portfolio manager also learns that the steering committee is satisfied with the current monthly reports. What should the portfolio manager do?

   • AChange the weekly updates to monthly to reduce the volume of communication.
   • BSend the detailed reports to project managers and the summary to the steering committee.
   • CAdjust the communication plan to provide concise weekly summaries to project managers while keeping the monthly reports for the steering committee.
   • DKeep the communication plan unchanged because the steering committee is satisfied.
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4. 18foundation · easy

   What is the primary purpose of analyzing stakeholder needs and expectations in portfolio management?

   • ATo assign stakeholders to specific portfolio components
   • BTo determine which stakeholders should be removed from the portfolio
   • CTo inform the development of communication strategies
   • DTo calculate the financial value of each stakeholder
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5. 19foundation · easy

   Which method is used to monitor communication effectiveness?

   • ADefining communication channels
   • BSelecting communication methods
   • CUpdating the stakeholder register
   • DConducting stakeholder surveys
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6. 20foundation · easy

   Why is it important to tailor communication approaches for different stakeholders?

   • ATo comply with regulatory requirements
   • BTo meet the diverse needs and preferences of stakeholders
   • CTo simplify the communication plan
   • DTo reduce the total number of communications
   Reveal Solution Discussion Select an answer first