Task 1 PFMP Practice Questions (Page 5)

Questions 21–25

1. 21foundation · easy

   Which activity is part of governance monitoring and control?

   • AApproving all projects without review
   • BIgnoring deviations from the plan
   • CConducting regular portfolio reviews to assess performance against targets
   • DDeleting all historical performance data
   Reveal Solution Discussion Select an answer first
2. 22foundation · easy

   How does governance facilitate communication of portfolio performance to stakeholders?

   • ABy reporting only positive results
   • BBy establishing standardized reporting formats and cadence
   • CBy having project managers report directly to the public
   • DBy keeping all performance data confidential
   Reveal Solution Discussion Select an answer first
4. 23expert · hard

   A portfolio governance board has developed a comprehensive set of policies and procedures. However, after a year, they find that the policies are not being followed consistently, and some are outdated. The board wants to improve adherence and keep policies current. What is the most effective approach?

   • AReplace the policies with industry best practices without adaptation to the organization.
   • BEstablish a periodic review cycle for policies and include feedback from users to update them as needed.
   • CSimplify the policies to a few high-level principles and let teams interpret them as needed.
   • DEnforce the existing policies strictly and penalize any deviations.
   Reveal Solution Discussion Select an answer first
5. 24application · medium

   A portfolio governance board is developing policies for project intake. They want to ensure that all proposed projects are evaluated consistently and that the process is transparent. Which policy component is most essential to achieve this?

   • AA policy that allows each department to define its own evaluation criteria.
   • BA policy that allows the board to approve projects on a first-come, first-served basis.
   • CA policy that requires all projects to be approved by the CEO personally.
   • DA standardized scoring model with defined criteria and weights for evaluating all proposals.
   Reveal Solution Discussion Select an answer first
6. 25application · medium

   A newly appointed portfolio manager discovers that the organization has no formal portfolio governance framework. Projects are selected by individual business units without coordination. The CEO wants a framework that ensures the portfolio reflects organizational strategy. What should the portfolio manager do first?

   • ADefine the governance framework, including decision rights, review processes, and alignment criteria, and obtain executive sponsorship.
   • BAsk each business unit to document their project selection criteria and continue as is.
   • CHire an external consultant to select the projects for the next fiscal year.
   • DImmediately stop all ongoing projects until a framework is in place.
   Reveal Solution Discussion Select an answer first