Quiz
Practice 2
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Questions in this quiz (50)
1Portfolio management seeks to ensure the most effective balance of organizational change and
what function or activity?- APerformance management
- BStrategic planning
- CProgramme and project management
- DBusiness as usual
2What consists of a series of broadly sequential practices?
- APortfolio management model
- BPortfolio definition cycle
- CPortfolio delivery cycle
- DPortfolio management principles
3Which is a portfolio definition practice?
- AManagement by exception
- BRisk management
- CBalance
- DEnergized change culture
4Which is a portfolio delivery practice?
- APlan
- BBenefits management
- CChampion-challenger model
- DPortfolio Office
5How does portfolio management enable a balance of organizational change and BAU?
- ADelivering outputs as specified in the business case
- BBy managing formal and informal change initiatives
- CManaging delivery of transformation activities to achieve outcomes and benefits
- DRegularly reviewing the strategic contribution of change initiatives
6Which will NOT influence how portfolio management will be adapted to suit local
circumstances?- AThe organization's experience in using sophisticated software to manage projects and programmes
- BThe organization’s maturity in project and programme management
- CThe organization’s track record in project and programme management delivery
- DThe organization’s track record in realizing benefits from projects and programmes
7Which is an objective of portfolio management?
- APrescribe the use of ‘Best Management’ practices
- BEnsure change initiatives are delivered effectively and efficiently at a collective level
- CEnsure sophisticated IT solutions are applied to the management of initiative delivery
- DEnsure delivery of individual projects and programmes
8Which is one of the three broad approaches to implementing portfolio management?
- ADelivery
- BManagement by exception
- CSenior management commitment
- DEvolution
9Which three statements are benefits of assessing the impact of portfolio management?
- AHelps demonstrate a compelling case for investment in portfolio management
- BHelps in the development of more effective portfolio management practices
- CProvides a reference class of data to inform forecasting
- DThe process of measurement can help ensure success – reflecting the management adage, ‘what gets measured gets done"
10Which three actions are among the first seven steps in a staged implementation of portfolio
management?- ACreate a list of all of the programmes and projects across the organization
- BDefine a set of investment criteria to prioritize investments
- CApply the technique 'staged release of funding'
- DAlign reward and recognition processes with departmental objectives
11Which is a way of sustaining progress in the implementation of portfolio management?
- AWaiting until project and programme management reaches a minimum level of maturity
- BAdopting an ‘ad hoc’ approach to implementation
- CAdapting organizational processes to suit the most sophisticated ‘off the shelf’ software available
- DApplying the ‘champion-challenger’ model
12Which is an example of a performance metric that can be used to assess the impact of
portfolio management?- AAchievement of a project's outputs as specified in the Business Case
- BAchievement of agreed milestones that are included in the Portfolio Delivery Plan
- CAchievement of improved levels of customer satisfaction with goods supplied
- DAchievement of agreed milestones by initiatives included within a transformation programme
13Which is one of the six key functions/activities that portfolio management needs to
coordinate with to achieve strategic objectives?- AInformation Technology
- BProcurement/Commercial
- CProgramme & Project Management
- DHuman Relations
14 Which correctly describes the relationship between portfolio management and BAU?
- ABAU and portfolio management combine to achieve strategic objectives
- BBAU and portfolio management combine to deliver change initiatives
- CBAU sets the context within which portfolio management operates
- DPortfolio management sets the context within which BAU operates
15Which is NOT one of the four fundamental questions addressed by portfolio management as
part of strategic planning?- AIs the portfolio, together with BAU, sufficient to achieve the strategic objectives
- BWhat is the current maturity level of portfolio management practices
- CAre all the change initiatives in the portfolio necessary
- DIs the portfolio achievable
16Identify the missing words in the following sentence.
Portfolio management provides the means by which the link between strategy and [ ? ] can be
maintained.- ARisk management
- BBusiness planning
- CPerformance management
- DResource allocation
17In relation to programme and project management, portfolio management provides mechanisms for…
- AManaging dependencies across the portfolio
- BManaging dependencies between projects within a programme
- CRealization of benefits from a change initiative
- DSuccessful delivery of an individual change initiative
18Which is NOT a way in which portfolio management should align with the performance management system?
- AUpdating the organization’s performance targets to reflect the planned portfolio impact
- BEnsuring performance and portfolio reporting schedules remain independent
- CEngaging the performance management function early in the development of business cases
- DMaking use of the expertise of the performance management function in designing new portfolio performance metrics
19How can portfolio management support effective corporate governance?
- ABy ensuring that separate assurance regimes are applied
- BBy amending the organizational governance to match portfolio governance
- CBy assigning responsibility for implementing change initiatives to the Portfolio Office
- DBy providing a ‘clear line of sight’ on progress against plan
20Which is one of the five portfolio management principles?
- ABenefits management
- BPortfolio delivery
- CUnderstand
- DPortfolio Office
21Which is a key to success for the portfolio management principle ‘senior management commitment’?
- AThe roles of the Management Board regarding portfolio management are clearly defined
- BThe Portfolio Management Framework includes a compelling vision for the portfolio
- CThe Portfolio Office makes decisions on prioritization of initiatives on behalf of the Board
- DSomeone independent of the executive is appointed to champion the implementation of portfolio management
22Which is a key to success for the portfolio management principle ‘governance alignment’?
- AKey roles in relation to portfolio management should be recorded in the Portfolio Delivery Plan
- BSub-portfolios should make all required decisions without referring issues upward
- CMeetings of the portfolio governance bodies should be scheduled close together
- DUnderstanding of portfolio governance should be restricted to the Board of Directors
23Which is a suggested technique for aligning individual initiatives with strategy in a private sector organization?
- AService value chain
- BService profit chain
- CGovernance alignment
- DReference class forecasting
24Which is NOT a key to success in making a Portfolio Office fully effective?
- AIt should report to the Finance Director
- BIts terms of reference should be agreed by the Management Board
- CIt should regularly review progress and adapt its activities accordingly
- DIt should work collaboratively with other functions including strategic planning, PPM and BAU
25What source of organizational energy is described as 'Work stimulates and provides a sense of achievement'?
- AClimate
- BContext
- CContent
- DConnection
26Identify the missing words in the following sentence.
The purpose of the [ ? ] is to collate key information that will provide clarity to senior
management on the collection of change initiatives that will deliver the greatest contribution to
the strategic objectives?- APortfolio definition cycle
- BPortfolio delivery cycle
- CBalance practice
- DOrganizational governance practice
27Which portfolio definition practice ranks initiatives and helps senior management to decide which initiatives should be invested in?
- APrioritize
- BUnderstand
- CManagement control
- DBalance
28Which documents are key outputs of a well-managed portfolio definition cycle?
- APortfolio Management Framework and Portfolio Strategy
- BPortfolio Benefits Management Framework and Portfolio Delivery Plan
- CPortfolio Strategy and Portfolio Delivery Plan
- DPortfolio Management Framework and Portfolio Benefits Management Framework
29Which portfolio prioritization technique examines potential investments under the two main headings of attractiveness and achievability?
- ADriver-based strategic contribution analysis
- BMulti-criteria analysis
- CNet present value analysis
- DPayback analysis
30Which techniques can be used as part of an environmental scan during the ‘understand’ practice?
- ASWOT analysis and reference class forecasting
- BPESTLE analysis and the champion-challenger model
- CReference class forecasting and the champion-challenger model
- DSWOT analysis and PESTLE analysis
31Which is a key to success for the ‘categorize’ practice?
- AUse risk data by category to provide a high-level check that resource allocation reflects relative priorities
- BTailor investment criteria to each category
- CEnsure that the same investment criteria are applied to all potential investments
- DUse industry standard portfolio categories to aid benchmarking
32What term describes the period taken for benefits to exceed accumulated costs in present value terms?
- ANet present value
- BPayback (undiscounted)
- CInternal rate of return
- DPayback (discounted)
33Which is a key to success for the ‘balance’ practice?
- AEnsure balancing occurs prior to prioritization
- BEnsure management judgment is NOT allowed to overrule agreed decision rules and investment criteria
- CPresent data in easy to understand graphical formats
- DThe Portfolio Office should approve the results of the ‘balance’ practice
34What does the ‘plan’ practice involve?
- ACombining the Portfolio Strategy and Delivery Plan into a single document
- BProducing a plan that does not require updating
- CPreparing plans that motivate people to commit to the delivery of shared goals
- DDocumenting a baseline against which progress can be tracked via the Portfolio Management Framework
35What is this the purpose of 'To ensure the successful implementation of the planned change initiatives as agreed in the Portfolio Strategy and Delivery Plan'?
- APortfolio management
- BPortfolio definition cycle
- CPortfolio delivery cycle
- DThe ‘plan’ practice
36Which three statements are a purpose of the ‘organizational governance’ practice? To provide clarity about:
- ATo clarify what decisions are made
- BTo clarify where decisions are made
- CTo clarify the make-up of the portfolio
- DTo clarify what criteria are used
37Which is a result of a well-functioning portfolio delivery cycle?
- AResources, risks and dependencies will be efficiently and effectively managed
- BClarity on the scope, costs, risks and benefits of potential change initiatives
- CFunding does not need to be reallocated once initiatives are approved
- DThe Portfolio Office gains greater control over the change portfolio
38Which refers to the ‘clear line of sight’ technique?
- AProviding a dashboard report with a transparent chain from strategic intent to benefits realization
- BSpecifying points at which reviews of initiatives are linked to funding release
- CReporting via a documented route and schedule
- DReferring variances from plan that exceed control limits to the portfolio governance body
39Which is a main element of the ‘management control’ practice?
- AAdoption of the ‘champion-challenger’ model
- BShared understanding of the governance structure
- CRegular portfolio-level reviews
- DUse of ‘multi-criteria’ analysis
40Which technique enables reliable estimates of future benefits to be formulated on the basis of previous experience or evidence?
- ADriver-based strategic contribution analysis
- BMulti-criteria analysis
- CChampion-challenger model
- DReference class forecasting
41Which is a main element of the ‘financial management’ practice?
- APrescribing the use of financial metrics for initiative prioritization
- BIncluding a business case in every financial plan
- CApplication of the ‘management by exception’ technique
- DThe portfolio and financial management cycles should be managed independently
42Which three statements are main elements of the ‘risk management’ practice?
- AManagement of dependencies between initiatives
- BConsideration of sufficient financial contingency at a portfolio level
- CUse of ‘decision conferencing’
- DConsidering risk alongside return in the portfolio prioritization process
43The application of which technique is a main element of the ‘stakeholder engagement’ practice?
- AChampion-challenger model
- BMulti-criteria analysis
- CManagement by exception
- DStaged release of funding
44Which three statements are main elements of the ‘organizational governance’ practice?
- AThe Portfolio Office is the guardian of the portfolio processes
- BEscalation paths with control limits are agreed
- CRole profiles are prepared for key positions
- DA Portfolio Office with direct delivery responsibility
45Which is a ‘key to success’ for the ‘resource management’ practice?
- APortfolio-level financial planning
- BEffective dependency management
- CRisk-based prioritization
- DDynamic demand and supply management
46Which is an example of a logical dependency?
- AOver-reliance on a single supplier
- BTesting facilities are required by projects x and y at the same time
- CNon-realization of expected benefits resulting from inaccurate forecasting
- DProject x is reliant upon an output from project y
47What role is responsible for resolving issues that may compromise the delivery of the portfolio and benefits realization?
- APortfolio Manager
- BPortfolio Progress Group
- CPortfolio Director
- DPortfolio Direction Group
48What portfolio document provides the baseline against which to track and compare actual spend?
- APortfolio Dashboard Report
- BPortfolio Resource Schedule
- CPortfolio Financial Plan
- DPortfolio Benefits Realization Plan
49Championing the implementation of portfolio management is a responsibility of which portfolio role?
- APortfolio Progress Group / Change Delivery Committee
- BPortfolio Manager
- CBusiness Change Director / Portfolio Director
- DPortfolio Benefits Manager
50Which portfolio management document contains the vision and longer-term objectives for the portfolio?
- APortfolio Management Framework
- BPortfolio Resource Schedule
- CPortfolio Strategy
- DPortfolio Stakeholder Engagement and Communication Plan
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- Quiz on Practice 2, created by Sahara D on 13/11/2022.
- Author
- Sahara D
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- English
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- Created on 13 Nov 2022 · updated on 13 Nov 2022
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