IMPORTANT UPDATE
PMI is committed to the safety and well-being of our global community. Resulting from COVID-19, there have been significant changes to certification testing that may impact you. Please refer to our COVID-19 page for the most up to date information and guidance.
At this time, we are experiencing a surge in applications for Portfolio Management Professional (PfMP)®. We ask for your patience as the panel review process may currently take up to 60 days to complete. Our service always continues to remain our top priority, and we continue to look forward to supporting you now and into the future.
Your organization does the work right. But does it do the right work? As a portfolio manager, your role is essential to ensuring that the answer is “Yes.”
Formal portfolio management is the most effective way to implement strategic initiatives because it bridges the gap between strategy and implementation. Organizations that are effective in portfolio management had 62 percent of products meet or exceed expected ROI according to our 2012 Pulse of the Profession® research. Portfolio managers align projects, programs and operations with strategic objectives, investing resources in the right work to deliver the expected value.
The Portfolio Management Professional (PfMP) signifies your advanced competency in the coordinated management of one or more portfolios to achieve strategic objectives. Organizations with mature project portfolio management practices complete 35 percent more of their programs successfully. They fail less often and waste less money according to our 2015 thought leadership report, Delivering on Strategy: The Power of Project Portfolio Management.
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Who Should Apply?
If you’re an executive or senior-level practitioner managing a portfolio of projects and programs aligned with organizational strategy and focused on doing the right work, then the PfMP is the right choice for you.
Gain and Maintain Your PfMP
First phase of evaluation is panel review
The certification exam has 170 multiple-choice questions and you have four hours to complete it.
To maintain your PfMP, you must earn 60 professional development units (PDUs) in portfolio management topics every three years.
Prerequisites
All applicants must possess a minimum of 96 months of professional business experience within the last 15 years AND Secondary degree (high school diploma, associate’s degree or the global equivalent) 84 months of portfolio management experience
or
All applicants must possess a minimum of 96 months of professional business experience within the last 15 years AND Four-year degree (bachelor’s degree or the global equivalent) 48 months of portfolio management experience percentages are used to determine the number of questions related to each domain and task that should appear on the multiple-choice format examination.
Domain Percentage of Items on Exam
Strategic Alignment 25%
Governance 20%
Portfolio Performance 25%
Portfolio Risk Management 15%
Communications Management 15%
Domain 1: Strategic Alignment
The Strategic Alignment domain includes the continuous activities necessary for aligning portfolio components (programs, projects, and operations) with organizational strategic objectives, goals, and priorities. Portfolio strategic alignment also involves recommending portfolio scenarios and related components to create an initial high level portfolio roadmap.
Domain 2: Governance
The Governance domain includes activities related to establishing the governance model, developing the portfolio management plan, and approving the portfolio. Tasks in the Governance domain ensure that portfolio components are authorized and processes and procedures are developed and continuously improved.
Domain 3: Portfolio Performance
The Portfolio Performance domain includes the activities required for managing the portfolio using the portfolio processes as defined by the governance model; continuously monitoring and evaluating the performance of the consolidated portfolio components in order to balance the portfolio; and reporting on progress towards the achievement of strategic objectives.
Domain 4: Portfolio Risk Management
Portfolio Risk Management includes activities related to the balancing and management of portfolio risk consistent with the risk appetite of the organization and facilitates decision making.
Domain 5: Communications Management
The Communications Management domain includes activities related to continuously communicating with stakeholders; understanding their needs and expectations; addressing issues as they occur; managing conflicting interests; and fostering appropriate stakeholder engagement in portfolio decisions and activities.
QUESTION 1
When we talk about portfolios, programs and projects, it is inevitable to mention the business value which is the sum of tangible and intangible assets of an organization, also known as the net quantifiable benefit.
When it comes to business value, at which level of the organization is the pursuit of Business Value optimized?
A. Program
B. Portfolio
C. Operational
D. Project
Answer: B
QUESTION 2
Stakeholders have complained to you that they are receiving redundant information and they prefer that you fix the issue promptly as it is time consuming for them. What is your best course of action?
A. Explain to the stakeholders why it is important that they keep receiving this information
B. Re-assess and re-write the Communication Management Plan after analyzing the stakeholders again
C. Escalate the issue to the governance board and ask them to take a decision regarding it
D. Update the communication matrix and remove them from it
Answer: A
QUESTION 3
You have just finished a major checkpoint in your portfolio and the portfolio has to undergo several changes in order to re-align with the strategies. One component of your portfolio has been cancelled and the resources are going to be reallocated to other components. Which process does these activities?
A. Manage Supply & Demand
B. Authorize Portfolio
C. Manage Portfolio Oversight
D. Optimize Portfolio
Answer: B
QUESTION 4
When developing the charter, you will use multiple inputs and documents of which the portfolio Strategic Plan is one. How is the strategic plan used in this case?
A. It is not an input to this process
B. The Portfolio Structure and Portfolio Manager’s Authorizations are copied from the Portfolio Strategic Plan as is and incorporated in the Charter
C. It is updated based on the output of the Develop portfolio charter process
D. The prioritization model is used as a decision framework to structure the portfolio components
Answer: D
QUESTION 5
When we talk about portfolios, programs and projects, it is inevitable to mention the business value which is the sum of tangible and intangible assets of an organization, also known as the net quantifiable benefit. When it comes to business value, at which level of the organization is the Business Value achieved?
A. Program
B. Project
C. Portfolio
D. Operational
Answer: D