Task 1 PFMP Practice Questions (Page 6)

Questions 26–30

1. 26foundation · easy

   What is a primary responsibility of the portfolio sponsor?

   • ATo write the code for portfolio-related software
   • BTo perform quality audits on project deliverables
   • CTo champion the portfolio and secure resources and support from senior management
   • DTo conduct daily stand-up meetings for all projects
   Reveal Solution Discussion Select an answer first
2. 27foundation · easy

   Which role is typically responsible for approving changes to the portfolio and ensuring alignment with strategic objectives?

   • AQuality assurance analyst
   • BTeam lead
   • CPortfolio review board
   • DProject manager
   Reveal Solution Discussion Select an answer first
4. 28application · medium

   A portfolio governance board wants to improve stakeholder confidence in portfolio performance reporting. Currently, reports are inconsistent in format and frequency across different programs. What should the board implement?

   • AA requirement to report only when significant issues occur.
   • BA policy that allows each program manager to report in their preferred format.
   • CA standardized reporting template and a defined reporting calendar for all portfolio components.
   • DA single annual report summarizing the entire portfolio.
   Reveal Solution Discussion Select an answer first
5. 29foundation · easy

   How can governance processes be reviewed for improvement?

   • ABy avoiding any changes to governance
   • BBy delegating all review to external auditors only
   • CBy waiting for issues to become critical
   • DBy conducting periodic assessments of governance effectiveness
   Reveal Solution Discussion Select an answer first
6. 30application · medium

   A multinational company is establishing a portfolio governance framework. The CEO wants to ensure that all portfolio components directly support the organization's strategic objectives. The company has a history of projects being approved based on departmental influence rather than strategic value. Which governance mechanism should be implemented first to address this issue?

   • AEstablish a portfolio review board with authority to approve or reject components based on strategic alignment criteria.
   • BCreate a communication plan to inform stakeholders about portfolio performance monthly.
   • CDevelop a detailed project management methodology to standardize execution processes across all departments.
   • DImplement a financial tracking system to monitor project costs and benefits in real time.
   Reveal Solution Discussion Select an answer first