PfMP flashcards
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32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Portfolio strategic alignment
- The degree to which the collective set of portfolio components advances organizational strategy, assessed at the portfolio level rather than component by component.
- Portfolio strategic plan
- A document defining portfolio objectives, prioritization criteria, and intended component mix, serving as the baseline for evaluating strategic alignment.
- Strategy traceability chain
- The linkage from vision and strategic goals through portfolio objectives to component business cases, benefits, and KPIs, enabling alignment verification.
- Weighted prioritization model
- A scoring method that ranks components using criteria derived from strategic objectives, with weights set by governance rather than by sponsors.
- Balanced Scorecard perspectives
- Financial, customer, internal process, and learning and growth viewpoints used to map how portfolio components contribute to organizational strategy.
- Alignment re-evaluation trigger
- A strategic change event that requires reassessing whether existing portfolio components still support objectives before the portfolio is re-approved.
- Benefits realization evidence
- Measured realized benefits compared against the benefits register, used as proof of strategic alignment rather than activity or output volume.
- Portfolio governance
- The framework of decision rights, accountability, review cadence, and escalation paths that controls portfolio-level decisions and investment commitments.
- Portfolio board
- The governing body holding authority for portfolio decisions such as approving, reprioritizing, pausing, or terminating components and reallocating funds.
- Stage-gate review
- A scheduled decision point at which governance chooses to continue, change, hold, or terminate a component based on defined criteria.
- Governance tailoring
- Scaling oversight rigor to a component's risk level, investment size, and strategic criticality so control is proportionate rather than uniform.
- Tolerance breach escalation
- The rule that a component exceeding approved cost, schedule, or benefit tolerances is escalated to the governing body rather than re-baselined locally.
- Decision log
- A governance record capturing each portfolio decision with its rationale, date, and accountable owner, preventing undocumented or ambiguous outcomes.
- Separation of duties
- A control principle preventing the person accountable for component delivery from being the sole approver of its continuation or funding.
- Cost performance index
- Earned value divided by actual cost (CPI = EV / AC); a value above 1.0 indicates favorable cost performance.
- Schedule performance index
- Earned value divided by planned value (SPI = EV / PV); a value above 1.0 indicates favorable schedule performance.
- Estimate at completion
- A forecast of total cost, commonly BAC divided by CPI, or actual cost plus remaining budget when variances are atypical.
- To-complete performance index
- TCPI = (BAC − EV) / (BAC − AC); the cost efficiency required on remaining work to finish within the approved budget.
- Weighted portfolio aggregation
- Combining component performance indices by budget or value weighting rather than simple averaging, so large components are not masked by small ones.
- Portfolio rebalancing
- Reallocating funds, resources, or priorities among components to restore performance and alignment, requiring governance approval when baselines change.
- Capacity utilization metric
- A performance measure comparing demand for skilled resources against available supply across the portfolio, revealing bottlenecks and overallocation.
- Benefits shortfall
- A gap between planned and realized benefits recorded in the benefits register, treated as a portfolio performance signal rather than only a delivery issue.
- Portfolio risk exposure
- Aggregate risk facing the portfolio, which exceeds the simple sum of component risks when risks are correlated or share common causes.
- Risk appetite and tolerance
- Governance-set levels of acceptable risk exposure; the portfolio manager operates within them and escalates exposures that breach defined thresholds.
- Concentration risk
- Over-reliance on a single vendor, technology, market, or key individual, creating portfolio-level exposure invisible in individual component reviews.
- Expected monetary value
- EMV = probability × impact; a quantitative technique for comparing and prioritizing risk exposures across portfolio components.
- Dependency management
- Tracking inter-component dependencies with owners and dates as portfolio risks, since unresolved dependencies threaten schedule and benefits.
- Threat response strategies
- Avoid, mitigate, transfer, accept, and escalate; the standard set of options for addressing risks that could harm portfolio objectives.
- Portfolio communications plan
- A document specifying stakeholders, information needs, reporting cadence, channels, and escalation paths for portfolio-level communication.
- Power-interest stakeholder grid
- A classification placing stakeholders by influence and interest, guiding engagement strategy and communication frequency for each group.
- Decision-oriented reporting
- Portfolio reporting that states the decision required, options, recommendation, and consequences rather than presenting status metrics alone.
- Escalation threshold
- A predefined trigger level at which an issue, risk, or tolerance breach is raised to a higher authority, agreed in advance in the communications plan.