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PMI PfMP (PfMP) Practice Tests & Test Prep by Exam Edge - Review



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PMI Portfolio Management Professional - Reviews


   Excellent
Based on 140 reviews


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See why our users from 154 countries love us for their exam prep! Including 140 reviews for the PMI PfMP exam.

Exam Edge is an industry leader in online test prep. We work with institutional partners to offer a wide array of practice tests that will help you prepare for your big exam. No matter how niche your field of interest might be, we're here to help you prepare for test day.

   Excellent -- Based on 140 reviews

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PMI Portfolio Management Professional - Test Reviews Sample Questions

Ernie is currently involved in reporting portfolio changes and information on resources, risks, performance, and financials.  He is also ensuring compliance with organizational standards.  Which portfolio governance process is Ernest involved in?

Correct Answer:
provide portfolio oversight


define portfolio: a portfolio in a business context is a collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. the portfolio is structured and managed to optimize the organization's performance by carefully examining various factors such as risk, value proposition, and resource allocation, ensuring alignment with the overarching strategic goals of the organization.

provide portfolio oversight: providing portfolio oversight is a critical governance process within portfolio management. this process involves monitoring the overall health and progress of the portfolio, ensuring that it remains aligned with the strategic objectives and compliance requirements of the organization. portfolio oversight typically includes several key activities: 1. **reporting portfolio changes and information**: this involves keeping track of and documenting changes within the portfolio, such as shifts in project priorities, resource reallocation, and adjustments due to emerging risks or opportunities. regularly reporting this information ensures transparency and aids in decision-making at the strategic level. 2. **ensuring compliance with organizational standards**: compliance is crucial in maintaining the integrity and efficacy of portfolio management. this includes adhering to internal policies, industry standards, and legal regulations. ensuring compliance helps mitigate risks that could derail projects or lead to financial losses.

optimize portfolio: optimizing a portfolio involves continuous review and adjustment of the portfolio components to maximize their performance and strategic value. this process might include rebalancing the portfolio based on performance metrics, strategic changes, or external market conditions. it aims to ensure the most effective use of resources and to align the portfolio's outcomes with business goals.

authorize portfolio: authorization of a portfolio involves the formal approval of the portfolio’s strategy, its component projects, and ongoing funding. this process is typically performed by senior management or a governing body within the organization. it is a critical step that officially sanctions the portfolio to operate and utilize organizational resources.

conclusion: in ernie's case, his involvement in reporting portfolio changes and ensuring compliance with organizational standards are activities that fall under the domain of providing portfolio oversight. these tasks are essential for maintaining the portfolio's alignment with strategic objectives and for meeting regulatory and internal standards, which are fundamental to successful portfolio governance.