Certified Project Portfolio Manager (CPPM) Exam Study Flashcard

A Portfolio Governance Framework includes the set of guidelines, policies, and structures that define how the portfolio is overseen and managed, ensuring proper decision-making and alignment with organizational objectives.

A Portfolio Governance Structure includes the roles, responsibilities, and processes for decision-making, oversight, and management of the portfolio to ensure alignment with strategic goals and effective management.

Portfolio Health Monitoring involves regularly assessing the overall condition and performance of the portfolio to identify issues, risks, and opportunities for improvement.

Portfolio Impact Analysis assesses the effects of changes, risks, or issues on the portfolio’s ability to achieve its strategic goals, helping to understand potential outcomes and make informed decisions.

Portfolio Optimization Techniques are methods and approaches used to adjust the portfolio mix to improve performance, manage risks, and align with strategic goals, such as linear programming, Monte Carlo simulations, and analytical hierarchies.

Portfolio Strategy Development involves creating and refining the approach for selecting, managing, and prioritizing projects and programs to align with and achieve the organization’s strategic goals.

Portfolio Success Factors are key elements or conditions that contribute to the successful management and delivery of the portfolio, such as effective governance, resource management, and strategic alignment.

Program Management involves coordinating and managing multiple related projects to achieve specific strategic objectives, while Portfolio Management focuses on selecting and managing the overall set of projects and programs.

Program-Level Benefits are the advantages gained from managing multiple related projects together, often yielding greater strategic value compared to individual Project-Level Benefits which are specific to each project.

Resource Allocation involves assigning and managing resources across projects and programs within the portfolio to ensure optimal utilization and alignment with strategic priorities.

Resource Utilization measures how effectively resources (such as people, equipment, and materials) are used across projects within the portfolio, aiming to maximize efficiency and avoid overallocation or underutilization.

Risk Appetite refers to the level of risk that an organization is willing to accept in pursuit of its strategic objectives, influencing how risks are managed and prioritized within the portfolio.

Scenario Planning involves developing and analyzing different future scenarios to understand potential impacts on the portfolio, enabling proactive adjustments to strategies and plans based on anticipated changes.

Strategic alignment ensures that the projects and programs within a portfolio are in line with the organization’s strategic goals and objectives, ensuring that resources are utilized in a way that supports the overall strategy.

Value-Based Prioritization is a method of ranking projects and programs based on the value they provide to the organization, ensuring that resources are allocated to initiatives that deliver the highest strategic benefit.

Value Delivery refers to the process of ensuring that projects within the portfolio achieve the desired outcomes and benefits that contribute to the organization’s strategic goals and provide measurable value.

Dependency Management involves identifying and managing interdependencies between projects within the portfolio to ensure that they do not adversely affect each other and that the overall portfolio objectives are met.

Portfolio Balancing is the process of ensuring that a portfolio has an appropriate mix of projects and programs to achieve strategic goals, manage risks, and utilize resources effectively.

Portfolio Change Management involves overseeing and controlling changes to the portfolio to ensure they are managed effectively, minimizing disruption and maintaining alignment with strategic objectives.

A Portfolio Communication Plan outlines how information will be communicated to stakeholders throughout the portfolio lifecycle, including the frequency, format, and channels of communication to ensure transparency and engagement.

Portfolio Health Indicators are metrics and indicators used to assess the overall status and performance of the portfolio, including aspects such as financial health, risk status, and strategic alignment.

Portfolio Integration involves ensuring that all projects and programs within the portfolio are effectively coordinated and aligned, allowing for seamless execution and maximizing the overall strategic benefits.

Portfolio Risk Management involves identifying, assessing, and mitigating risks at the portfolio level to ensure that the overall portfolio remains aligned with strategic goals and can adapt to potential challenges.

Portfolio Integration Management ensures that all projects and programs within the portfolio are aligned, coordinated, and managed effectively to achieve the overall strategic objectives and deliver cohesive outcomes.

Resource Capacity Planning involves forecasting the availability and demand for resources across all projects within a portfolio to ensure that the organization has the right resources available to meet project needs.

Benefit Realization is the process of ensuring that the benefits outlined in the business case for projects and programs are achieved and delivered, providing tangible value to the organization.

Portfolio Success Metrics are quantitative and qualitative measures used to evaluate the performance and effectiveness of the portfolio, including aspects like ROI, strategic alignment, and benefit realization.

Project Portfolio Value Assessment evaluates the overall value generated by the projects within the portfolio, considering factors such as strategic alignment, return on investment, and contribution to organizational goals.

Strategic Objectives Alignment ensures that all projects and programs within the portfolio contribute to and support the organization’s long-term strategic goals and vision, enhancing overall strategic effectiveness.

Key components include the portfolio governance structure, resource management plan, risk management plan, benefit realization plan, and performance measurement metrics.

Strategic Value refers to the contribution of projects and programs to achieving the organization’s long-term goals and strategic objectives, ensuring that they provide benefits that align with the strategic direction.

Benefit Management involves the processes and activities required to identify, plan, measure, and manage the benefits that are expected from the projects within the portfolio to ensure that they are realized and delivered.

Portfolio Budgeting involves planning, allocating, and managing the financial resources for the entire portfolio, ensuring that funding is distributed according to strategic priorities and project needs.

Portfolio Constraint Management involves identifying and managing limitations or constraints (such as time, budget, and resources) that impact the portfolio, ensuring that these constraints are effectively addressed.

Portfolio Optimization involves adjusting the portfolio mix to maximize the overall value or return while balancing risks, resource constraints, and strategic alignment.

Portfolio Review Frequency refers to how often the portfolio is reviewed to assess its performance, status, and alignment with strategic goals, ensuring timely adjustments and informed decision-making.

Portfolio Risk Tolerance refers to the level of risk the organization is willing to accept across the entire portfolio in pursuit of its strategic goals, influencing risk management strategies and decision-making.

Portfolio Scope Management involves defining and controlling the scope of the portfolio to ensure that all projects and programs align with strategic objectives and deliver the expected benefits.

Portfolio Variance Analysis involves comparing the actual performance of the portfolio against planned performance to identify deviations, understand their causes, and implement corrective actions if necessary.

Project Portfolio Evaluation is the process of assessing the performance, alignment, and value of the projects within the portfolio to determine their effectiveness and inform future decision-making and adjustments.

Project Portfolio Risk Assessment involves identifying, evaluating, and prioritizing risks across the entire portfolio to ensure that potential issues are managed effectively and do not compromise strategic objectives.

Resource Demand Management involves forecasting and managing the demand for resources across the portfolio to ensure they are allocated efficiently and effectively, meeting project and program needs.

Scenario Analysis involves evaluating different hypothetical situations or scenarios to understand potential impacts on the portfolio, helping to prepare for and mitigate risks associated with various future conditions.

Stakeholder Analysis involves identifying and assessing the needs, interests, and influence of stakeholders to effectively manage their expectations and ensure their support for the portfolio’s objectives.

A Benefit Realization Plan outlines how the benefits of the projects within the portfolio will be achieved, measured, and tracked to ensure that the intended value is delivered and realized.

A Portfolio Adjustment Plan outlines the actions required to modify or reconfigure the portfolio based on performance reviews, changing strategic priorities, or other factors to ensure continued alignment with objectives.

A Portfolio Execution Plan outlines the approach for implementing and managing the portfolio, including detailed actions, timelines, resource requirements, and milestones to ensure successful delivery of strategic objectives.

A Portfolio Management Office (PMO) provides centralized support and oversight for portfolio management activities, including governance, standards, processes, and tools to ensure effective portfolio execution.

A Portfolio Performance Dashboard is a visual tool that provides real-time information on key performance indicators (KPIs) and metrics related to the portfolio, helping stakeholders make informed decisions.

A Portfolio Review Meeting is a scheduled meeting where stakeholders review the performance, progress, and status of the portfolio, discuss key issues, and make decisions to address any challenges or changes needed.

A Portfolio Review is a periodic assessment of the portfolio to evaluate its performance, alignment with strategic goals, resource utilization, and overall effectiveness, leading to adjustments if necessary.

Project Portfolio Analysis involves evaluating and assessing the portfolio of projects to determine their performance, alignment with strategic objectives, and contribution to organizational goals.

Project Selection Criteria are the standards or metrics used to evaluate and prioritize projects within a portfolio, ensuring that selected projects align with strategic objectives and provide the desired value.

A PPM framework is a structured approach that helps organizations manage and optimize their portfolio of projects to align with strategic objectives, prioritize resources, and maximize value delivery.

A Portfolio Roadmap outlines the high-level timeline and sequence of projects and programs within the portfolio, providing a strategic view of how the portfolio will evolve over time to achieve organizational goals.

A Portfolio Charter formally authorizes the creation of a portfolio, defines its scope, objectives, and constraints, and provides a high-level framework for managing the portfolio in alignment with organizational strategy.

Governance Boards provide oversight, direction, and decision-making for the portfolio, ensuring that projects and programs are aligned with strategic objectives and that resources are allocated effectively.

Stakeholder Engagement involves identifying, communicating with, and managing the expectations of stakeholders to ensure their needs and interests are addressed and to gain support for the portfolio’s strategic direction.

A Portfolio Manager oversees the entire portfolio of projects, ensuring that they align with organizational strategy, are properly resourced, and are delivering the intended benefits and value.

Portfolio Performance Metrics are used to evaluate how well the portfolio is performing in terms of achieving strategic goals, managing resources, and delivering value, guiding decisions and improvements.