A company is establishing a portfolio governance structure. The company has a matrix organization where project managers report to both functional managers and the portfolio manager. There is confusion about who has the authority to approve changes to project scope. What should the governance structure define to resolve this confusion?

A guideline that functional managers approve all scope changes

A policy that all scope changes must be approved by the CEO

A clear decision rights matrix that specifies who approves scope changes at each level

A rule that project managers can approve their own scope changes

Which of the following is a key component of a portfolio governance framework?

The individual performance reviews of team members

Decision-making authority and escalation paths

The marketing strategy for the organization's products

The specific tools used for project scheduling

What is the purpose of governance policies and procedures in portfolio management?

To eliminate all risks in the portfolio

To replace the need for portfolio managers

To guide portfolio management activities and ensure consistency and compliance

Which of the following is an example of a governance policy?

A policy requiring all portfolio components to undergo a cost-benefit analysis before approval

A project charter for a new initiative

A weekly status report template

A portfolio governance board has implemented a new project selection process. After a few months, the board finds that the process is being bypassed by some business units, who are starting projects without formal approval. What is the MOST effective way to address this?

Investigate why the process is being bypassed and adjust the process to remove barriers

Increase the penalties for bypassing the process

Require all business units to report their project starts directly to the CEO

Ignore the bypasses and focus on the projects that follow the process

PMIPortfolio Management Professional (PfMP)

Domain 2Objective 3

Task 3 PFMP Practice Questions (Page 6)

Part of the Governance domain, which accounts for 20% of the PFMP exam. PMI does not publish an official question count, but from its 240-minute exam (~95–160 total, ~19–32 in this domain), expect 4–6 from this objective — we provide 30 practice questions to prepare you well beyond it. (estimate)

30questions here

6free pages

6concepts

20%of the exam

Questions 26–30

26application · medium
A company is establishing a portfolio governance structure. The company has a matrix organization where project managers report to both functional managers and the portfolio manager. There is confusion about who has the authority to approve changes to project scope. What should the governance structure define to resolve this confusion?
Select an answer first
27foundation · easy
Which of the following is a key component of a portfolio governance framework?
Select an answer first
28foundation · easy
What is the purpose of governance policies and procedures in portfolio management?
Select an answer first
29foundation · easy
Which of the following is an example of a governance policy?
Select an answer first
30expert · hard
A portfolio governance board has implemented a new project selection process. After a few months, the board finds that the process is being bypassed by some business units, who are starting projects without formal approval. What is the MOST effective way to address this?
Select an answer first

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