Practice Test Geeks(CPP) Certified Project Professional Practice Test
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Project Governance & Portfolio Management Flashcards

7 cards from real CPP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Project Governance & Portfolio Management flashcards as text

  1. Which portfolio management process involves identifying and documenting all components (projects and programs) currently under consideration or execution?

    Answer: Portfolio Identification

    Portfolio Identification is the process of gathering all potential and active portfolio components into a comprehensive inventory for evaluation.

  2. A Change Control Board (CCB) in a project governance context is primarily responsible for:

    Answer: Approving or rejecting proposed changes to project baselines

    The CCB evaluates change requests against project baselines and approves, defers, or rejects them to maintain controlled project scope, schedule, and cost.

  3. In portfolio management, 'portfolio component interdependencies' must be managed because:

    Answer: A change or failure in one component can cascade and impact other portfolio components

    Interdependencies mean that risks, delays, or scope changes in one project can propagate across the portfolio if not actively managed.

  4. An organization's portfolio governance framework should ideally be reviewed and updated:

    Answer: Periodically and whenever significant organizational strategy or structure changes

    Governance frameworks must evolve with the organization's strategic direction, structure, and lessons learned from portfolio performance.

  5. What is the key difference between a project portfolio and a program?

    Answer: A portfolio groups components for collective investment management; a program groups related projects for coordinated benefit delivery

    Programs are groups of related projects managed together for benefits not achievable individually; portfolios are collections managed for strategic investment alignment.

  6. A governance dashboard showing a project as 'yellow' status typically means:

    Answer: The project is at risk of missing targets and may need management attention or intervention

    Yellow (amber) status signals that the project faces risks or variances that require monitoring and potential corrective action before they escalate.

  7. Portfolio risk management differs from project risk management primarily because:

    Answer: Portfolio risk management considers aggregate risk exposure and interdependencies across all components

    Portfolio risk management aggregates risks across components, identifies correlated risks, and optimizes total risk exposure at the investment level.