Task 6 PFMP Practice Questions (Page 2)

Questions 6–10

1. 6application · medium

   A portfolio risk response has been implemented, but a key stakeholder is unaware of the progress and is concerned about the risk. What should the portfolio manager do?

   • AShare only the positive aspects of the response to reassure the stakeholder.
   • BWait until the response is fully complete before communicating.
   • CProvide the stakeholder with a status update on the response and its expected outcomes.
   • DAsk the stakeholder to trust the portfolio manager's judgment without details.
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2. 7expert · hard

   A portfolio manager is planning responses for a high-impact risk that could delay a regulatory approval critical to three projects. The portfolio has limited funds and cannot afford to implement all possible responses. The governance board requires a response that is cost-effective and does not delay the projects. Which approach is most appropriate?

   • ADefer the risk response until the risk materializes.
   • BTransfer the risk to an insurance provider without further analysis.
   • CSelect a single response that reduces the risk to an acceptable level within the budget, and document the rationale.
   • DImplement multiple responses in parallel to maximize risk reduction.
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4. 8foundation · easy

   When implementing portfolio risk responses, what must be ensured to maintain alignment with portfolio governance?

   • AResponses are implemented only if they require no additional resources
   • BResponses are implemented as quickly as possible to minimize risk exposure
   • CResponses are implemented exactly as originally planned without deviation
   • DResponses are implemented in accordance with governance processes and stakeholder expectations
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5. 9application · medium

   A portfolio risk response has been implemented, and the risk level is decreasing. The portfolio manager needs to communicate this to the governance board. What is the most appropriate way to report?

   • AWait until the risk is fully resolved before reporting.
   • BReport only the success, omitting residual risk to avoid concern.
   • CProvide a status report that includes the response's progress, current risk level, and any residual risk.
   • DProvide a verbal update without documentation.
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6. 10expert · hard

   A portfolio risk response is being implemented, but the response owner is not following the plan, and the risk level is not decreasing as expected. The portfolio manager has limited authority to enforce compliance. What should the portfolio manager do?

   • ATake over the response implementation directly.
   • BEngage the response owner to understand the barriers and seek a collaborative solution.
   • CAccept the situation because the portfolio manager has limited authority.
   • DReport the non-compliance to the governance board immediately.
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