BRMP Certification 2023 CORRECT ANSWER

BRMP Certification 2023 CORRECT ANSWER Business Relationship Manager - CORRECT ANSWER-A role that serves as the strategic interface between a Provider, and one or more Business Partners to stimulate, surface and shape business demand for the Provider's products and services and ensure that the potential business value from those products and services is captured, realized, optimized and recognized. Three Perspectives of BRM - CORRECT ANSWER-- Role (duties and responsibilities) - Discipline (skills, capabilities and knowledge) - Organization Capability (of the provider to be effective for shaping demand) BRM as a Connector - CORRECT ANSWER-- Facilitate productive connections and mobilize projects and programs - Stimulate, surface, and shape demand, Raise IT Savvy - Influences appropriate supply BRM as Orchestrator - CORRECT ANSWER-- Capabilities to drive value from Provider services - Coordinate and aggregate demand - Orchestrate key provider roles BRM as Navigator - CORRECT ANSWER-- Facilitate Business-Provider convergence - Facilitate business strategy and roadmapping - Guide architecture, portfolio and program management BRM Related Standards - CORRECT ANSWER-ISO/IEC 20000 COBIT 5 - recommends appointment of BRM ITIL Framework - description of BRM process SFIA (Skills Framework for the Information Age) Business-Provider Alignment Model - CORRECT ANSWER-ENVIRONMENT impacts the STRATEGIC CONTEXT and drives the IT STRATEGY and aligns to the IT PORTFOLIO BRM Competencies - DNA (Develop/Nurture/Advance) - CORRECT ANSWER-- Strategic Partnering - Business IQ - Portfolio Management - Provider Domain Knowledge - Powerful Communications - Business Transition Management Strategic Partnering (DNA) - CORRECT ANSWER-Goal of BRM is to establish a Strategic Partnership between the Provider and the Businesses it serves Business IQ (DNA) - CORRECT ANSWER-One of the reasons the strategic partnership goal has been so elusive is that Provider organizations often fall short in understanding and speaking the language of their Business Partners. Portfolio Management (DNA) - CORRECT ANSWER-To optimize value realization from a Provider's products, services, assets and capabilities, the discipline of Portfolio Management is crucial to the expression of business strategy and the investment and risk choices that must be made in pursuing that strategy. Provider Domain (DNA) - CORRECT ANSWER-The associated disciplines of Service Management are drawn as the next ring because value realization also depends on having the right provider services delivered in the most effective way. Business Transition Management (DNA) - CORRECT ANSWER-A common cause for loss in realization is the failure to properly manage business transitions enabled by a Provider's services (such as process improvement, new business capabilities). Powerful Communications - CORRECT ANSWER-Drawn as the outermost ring of the BRM DNA graphic because all the competencies referenced in the inner rings and core depend on it. Roof of the House of BRM - CORRECT ANSWER-Clarity of the BRM Role in the context of the Provider Strategy and Operating Model Business Relationship Maturity Model - CORRECT ANSWER-L1: Ad Hoc L2: Order Taker L3: Service Provider L4: Trusted Advisor L5: Strategic Partner Demand Shaping Discipline - CORRECT ANSWER-- A set of disciplines, tools and governance mechanisms designed to surface stimulate and shape business demand for Provider products and services in balance with supply constraints. - Ensures that provider capabilities are full leveraged. - Optimizes value realized through services Exploring Discpline - CORRECT ANSWER-- Identifies and rationalizes demand for Provider services - Identifies business and technology trends with the potential to create value. - Identifies new business value initiatives Servicing Discipline - CORRECT ANSWER-- Coordinates Provider resources - Manages the expectations of the Business Partner - Translates demand into supply requirements - Facilitates Business Strategy, business capability roadmapping, portfolio and program management Value Harvesting Discipline - CORRECT ANSWER-- Ensures the success of business change initiatives - Tracks and reviews performance - Provides input to continuous improvement actives - Provides insights to the results of business change and initiates Demand Shaping aka Demand Management - CORRECT ANSWER-Goal of the BRM is to create optimum value from limited IT supply. Must also assess demand, it may not be cost effective to satisfy all demand. Expression Barrier - CORRECT ANSWER-Lack of clarity of the business strategy - STRATEGIC CONTEXT Strategic Relationship Management Steps - CORRECT ANSWER-1. Initiation/Overview 2. Discovery 3. Planning 4. Execution 5. Extend and Expand Specification barrier - CORRECT ANSWER-Difficulty of determining just what the business wants IT to do - IT STRATEGY Implementation Barrier - CORRECT ANSWER-Refers to those things that prevent the development of an IT Portfolio that adequately supports the business strategy. (infrastructure) - IT PORTFOLIO Contextual Barrier - CORRECT ANSWER-Deeply ingrained factors such as organization culture, rules of engagement, attitude to change and whether it is a rule or relationship driven - ENVIRONMENT Credibility Equation - CORRECT ANSWER-Credibility = expertise + trustworthiness Key components to climbing the maturity levels Capability - CORRECT ANSWER-Everything it takes, both visible and behind the scenes, that makes producing a good or providing a service possible. Value Chain Capabilites - CORRECT ANSWER-Provide value to the business partner Demand Governance Capabilities - CORRECT ANSWER-Those which are needed to managed the demand that flows into the value chain Enabling Capabilities - CORRECT ANSWER-Are needed to enable the value chain or demand governance capabilities Customer Value Hierarchy Model - CORRECT ANSWER-Table Stakes Satisfiers Differentiators Relationship Strategy on a Page (RSOAP) - CORRECT ANSWER--Reach mutual understanding of goals and means to achieve them - Clarifies commitments and expectations - Defines a road map for achieving goals RSOAP Overiew (5 sections) - CORRECT ANSWER-1) Shared Vision 2) Relationship Characteristics 3) Performance Measures 4) Key Initiatives 5) Operating Principles Business Capability - CORRECT ANSWER-the expression or the articulation of the capacity, materials and expertise an organization needs in order to perform core functions. The things the business must due in order to operate. Business Capability Roadmapping - CORRECT ANSWER-A way to clarify business capabilities needed to implement business strategy and the IT Capabilities needed to enable those business capabilities. Overview of Business Capability Roadmapping - CORRECT ANSWER-- Identify Business Strategy 1) Roadmap Business Capabilities 2) Roadmap Enabling Capabilities 3) Asses Enterprise Opportunities - Prioritize Capabilities and Projects - Identify Technologies and Skills Business Capability Roadmapping Steps - CORRECT ANSWER-1. Identify and roadmap business capabilities 2. Identify and roadmap enabling IT Capabilities (architecture) 3. Asses enterprise opportunities 4. Create capability business case 5. Update the enterprise capability roadmap 6. Create project poposals 7. Prioritize capabilities and projects Business Outcomes - CORRECT ANSWER-A means of establishing a discipline of value - from clarifying an opportunity, through to managing scope, establishing focus and ownership, through to measuring and optimizing realized value. "begin with the end in mind" Characteristics of a good Business Outcome - CORRECT ANSWER-1. They are important to the business (not IT focused) 2. Represent the results to be obtained (not the means) 3. Provide focus 4. Visible and unambiguous 5. Provide a basis for action 6. Intangible outcomes are translated into operational outcomes Steps to Determining Business Outcomes - CORRECT ANSWER-1. Examine Issues 2. Identify Outcomes 3. Identify Impacts 4. Determine Measures Value Management - CORRECT ANSWER-Process of defining, measuring, optimizing, and communicating the net value of a Provider investment over time. Value Management Framework - CORRECT ANSWER-Strategize Plan Execute Close Manage Portfolio Purpose of Value Management - CORRECT ANSWER-- Identify initiatives that have the potential to create business value - Ensure value is delivered - Evaluate investment proposals - Avoid bad investment decisions - Link compensation to value delivered - Optimize value realized Value Management Process - CORRECT ANSWER-1. Value Creation Ideas (idea document) 2. Value Creation Plan 3 Develop Business Case 4 Approve Business Case (NPV) 5 Capture and Communicate Value Value Plan - CORRECT ANSWER-1. Definition 2. Value by timeframe 3. Reporting Schedule 4. How measured 5. How long will the value be measured 6 Stakeholders and their level of committment 7. Point of action Business Case Components - CORRECT ANSWER-1. Executive Summary (includes financial highlights) 2. Project Overview 3. Business Alignment (strategic alignment) 4. Infrastructure Impact 5. Costs (certain or estimated, 1x or ongoing) +/- 10% 6. Benefits (productivity improvement, cost savings, avoided costs, revenue enhancements) 7. NPV Assessment - Prime decision support tool 8. Risk assessment 9. Alternative Solutions 10. Value Measurement Plan Weill Broadbent Classification Scheme - CORRECT ANSWER-Infrastructure (services) Transactional (payroll) Informational (data to make decisions) Strategic (competitive advantage) Boston Square - CORRECT ANSWER-Strategic (competitive advantage) High Potential (highly speculative) Factory (delivering value now) Support (avoid competitive disadvantage) Portfolio Management Lifecycle - CORRECT ANSWER-1. Demand Shaping 2. Portfolio analysis & Prioritization 3. Portfolio Rationalization 4. Portfolio Selection 5. Monitor Program & Project Execution 6. Benefits Realization - across the entire life cycle Resource Management and Dashboard & Reporting Governance - CORRECT ANSWER-Ensures that stakeholder needs, conditions and options are evaluated to determine balanced, agreed-on enterprise objectives to be achieved; setting direction through prioritization and decision making; and monitoring performance and compliance against agreed-on direction and objectives. Should be doing Management - CORRECT ANSWER-Plans, builds, runs and monitors activities in alignment with the direction set by the governance body to achieve the enterprise objectives. How is should be doing it