The PfMP Exam is for senior executives who have reached a point in their career where they are part of the council within an organization that decides which projects get funded next. The PfMP is short for Portfolio Management Professional, and is a certification offered by the Project Management Institute (PMI).
Once you've met the criterial for experience and training, you must submit an application detailing your experience, to be reviews by a board of existing PfMP holders at PMI. This is a challenging process and often applications are rejected.
The rejection letter appears to be somewhat vague, and is actually a standard form-letter. Something a bit confusing is that because it is a rejection form-letter, the reasoning given in it is not always accurate.
What the board is looking for are details of your portfolio (size, types of outcomes, projects, programs), and also what you did to establish the PfMP process, if it did not already exist, and what you do to govern it. How often you mmet with the portfolio committee, etc.
Portfolio Management is critical within a company because organizations grow through projects. Project spending actually sets the strategy for a company.
Mike Berry, PMP, CSMC, CSPRO, CSM, CSPO, PBA, ACP, ITIL, CSM, etc.