2 ◾ PfMP® Exam Practice Tests and Study Guide
Various prioritization models can be used ranging from ones that are simple to ones
that are sophisticated. The objective is to use the model to determine a score for
each component. Establishing this model is more difcult than it seems as everyone
in the organization basically is a stakeholder and must follow the criteria that are
established for scoring. The strategic plan then ensures the vision and objectives of
the portfolio are aligned with that of the organization.
The Portfolio Charter also is developed in this process, and it is comparable
to that of a charter for a program or project manager as it authorizes the port-
folio manager to assign resources to components and execute the various
portfolio processes. It builds on the portfolio strategic plan, and in develop-
ing it, scenario analysis may be helpful as it can show different combinations
of components to help determine the most useful structure of the portfolio.
Capability and capacity analysis cannot be overlooked as in most organizations
there are more components, or potential components, than resources that are
available to execute them. Such analyses enable the organization to determine
constraints and how best to handle them. As the charter is developed, it may
cause a need to revisit the portfolio strategic plan to see if it requires updates.
Additionally, the portfolio roadmap is developed. It is an expansion of a road-
map at the program level as it shows all the components in the portfolio needed
to achieve the organization’s overall strategy in a chronological way. As it serves
as a high- level plan, it also focuses on dependencies and shows component
alignment with strategies, maps milestones, and shows challenges and risks. It is
an excellent communications tool that changes frequently. In developing it, the
portfolio strategic plan, the charter, and the portfolio are used. Analyses focus on
interdependencies between components, cost- benet, and prioritization. Review
Figure4-8 in The Standard to see an example of a roadmap.
Managing strategic change is critical as portfolio management responds to
these changes to ensure the portfolio’s components remain in alignment or
to determine if new components need to be added, or others removed. It is a
dynamic process as the portfolio is not static. It is part of the Aligning Process
Group with an emphasis on the portfolio manager working to manage changes
in strategy at the organizational level that affect the portfolio and to accept
or act on any changes that then effect portfolio planning. These changes are
expected, and to assist the portfolio manager, he or she uses the portfolio strate-
gic plan, charter, roadmap, and the portfolio management plan [developed in the
governance process to document the intended approach to manage the portfolio].
Tools and techniques include stakeholder analysis to meet stakeholder expec-
tations as the portfolio changes, gap analysis to assess the current state with
the vision or ‘to be’ state at the organizational level, and readiness analysis to
determine what must be done to bridge any gaps that exist. This process results
in updates to documents and portfolio process assets.
Following is a list of the major topics in the Strategic Alignment domain. Use
this list to focus your study efforts on the areas that are most likely to appear on
the exam.