To optimize a portfolio, the most relevant inputs would be the Portfolio Strategic Plan and Portfolio Reports. The Portfolio Strategic Plan provides the overarching goals and strategies, which are essential to aligning and optimizing the portfolio. Portfolio Reports give the necessary data about the current performance and status of the portfolio, which is crucial for making informed decisions to optimize it.
The executive raised a cultural risk. This is because the concern is about the company's existing culture and its possible inflexibility to adapt or change the organizational structure. Cultural risks pertain to the values, beliefs, and behaviors that may inhibit or facilitate changes within the organization.