Project Management Professional (PMP) Process: Managing the Project Through Execution Syllabus

What is the difference between explicit knowledge and tacit knowledge?

Explicit knowledge is readily codified using words, numbers, and pictures (documents, databases). Tacit knowledge is personal, experience-based, and hard to express (beliefs, insights, know-how).

What is the Manage Project Knowledge process and its key output?

The process of using existing knowledge and creating new knowledge to achieve objectives and contribute to organizational learning. Its key output is the Lessons Learned Register.

Name two techniques used to transfer tacit knowledge between people.

Knowledge-sharing techniques such as networking, communities of practice, mentoring/coaching, shadowing, storytelling, workshops/seminars, and work shadowing. (Tacit knowledge transfers best through interaction.)

What is the Lessons Learned Register versus the Lessons Learned Repository?

The Lessons Learned Register is a project document updated throughout a single project to record knowledge gained. The Lessons Learned Repository is an organizational store of lessons across many projects (an OPA) for future reuse.

In the Monitoring & Controlling process group, what does 'measuring performance against the plan' rely on as a reference?

It relies on the performance measurement baseline (PMB)—the integrated scope, schedule, and cost baselines—against which actual results (work performance data) are compared to detect variances.

What is the difference between work performance data, information, and reports?

Data = raw observations/measurements (e.g., % complete, costs). Information = data analyzed in context (e.g., variance status). Reports = the physical/electronic compilation of information distributed to stakeholders for decisions/actions.

In Earned Value Management, define PV, EV, and AC.

PV (Planned Value) = budgeted cost of work scheduled. EV (Earned Value) = budgeted cost of work actually performed. AC (Actual Cost) = actual cost incurred for the work performed.

State the formulas for Cost Variance (CV) and Schedule Variance (SV), and how to interpret them.

CV = EV − AC; SV = EV − PV. A positive value is favorable (under budget / ahead of schedule); negative is unfavorable (over budget / behind schedule); zero is on target.

State the formulas for CPI and SPI and how to interpret values.

CPI = EV/AC; SPI = EV/PV. A value >1 is good (efficient), =1 is on plan, <1 is poor. CPI<1 means over budget; SPI<1 means behind schedule.

Give the EAC formula assuming current cost performance (CPI) continues for the rest of the project.

EAC = BAC / CPI. (BAC = Budget at Completion.) This assumes future work will be performed at the same cost efficiency experienced so far.

What is the formula for Estimate to Complete (ETC) and Variance at Completion (VAC)?

ETC = EAC − AC (cost of remaining work). VAC = BAC − EAC (forecast budget surplus or deficit at completion).

What is the To-Complete Performance Index (TCPI) based on BAC, and what does it indicate?

TCPI = (BAC − EV) / (BAC − AC). It is the cost performance efficiency needed on remaining work to meet the BAC. TCPI>1 means harder-than-planned efficiency is required to stay on budget.

What is an issue, and how does it differ from a risk?

An issue is a current condition or situation that may impact objectives and requires action now. A risk is an uncertain future event that may or may not occur. Risks that occur often become issues.

What information is typically captured in an issue log?

Issue ID, type/category, description, priority, who raised it, date raised, assigned owner, target resolution date, status, and final resolution/outcome.

Differentiate corrective action from preventive action.

Corrective action realigns the performance of project work with the project management plan after a deviation has occurred. Preventive action ensures future performance conforms to the plan by addressing a potential (not yet occurred) deviation.

What is a defect repair, and how is it different from corrective/preventive action?

Defect repair modifies a nonconforming product or component (fixes something already built wrong). Corrective/preventive actions adjust work performance/processes rather than fixing a specific deliverable defect.

What is project compliance and what does managing it involve?

Compliance is adherence to applicable policies, regulations, standards, and contractual/legal requirements. Managing it involves identifying requirements, classifying their severity, implementing controls, monitoring adherence, and addressing non-compliance through audits and corrective action.

What is a quality audit and what are its objectives?

A quality audit is a structured, independent review to determine whether project activities comply with organizational and project policies, processes, and procedures. Objectives include identifying good/best practices, gaps, sharing improvements, and reducing rework cost.

What is the Close Project or Phase process and what does it finalize?

It is the integration process of finalizing all activities for the project, phase, or contract. It finalizes acceptance, transfers deliverables, releases resources, archives documents, records lessons learned, and produces the final product/service/result transition and final report.

What must be obtained before a project can be formally closed regarding deliverables?

Formal acceptance/sign-off of the completed deliverables from the customer or sponsor (validated scope), confirming requirements were met.

Differentiate administrative closure from contract (procurement) closure.

Administrative closure finalizes the project/phase internally (documentation, sign-off, lessons learned, resource release). Contract/procurement closure formally settles and closes each procurement/contract, including verifying work and resolving claims.

What are Organizational Process Assets (OPAs) and how are they updated at closure?

OPAs are the organization's plans, processes, policies, procedures, templates, and knowledge bases. At closure they are updated with final project files, lessons learned, historical information, and updated templates/estimating data for future projects.

Why are lessons learned captured throughout the project and not only at the end?

Capturing them continuously lets the current project benefit immediately (applied to remaining work), prevents loss of knowledge, and improves accuracy versus relying on memory at project end.

What is benefits realization, and who is typically responsible for it after the project ends?

Benefits realization is the process of ensuring the project's intended business benefits/value are actually achieved. After project handover, the business owner/operations (sponsor/benefits owner), guided by the benefits management plan, is responsible for realizing and sustaining benefits.

What is a benefits management plan and what does it define?

A document describing how and when the project's benefits will be delivered and measured. It defines target benefits, metrics, timeframe, the benefits owner, assumptions, and how benefits will be tracked and sustained.

What is 'transition to operations' and why is it a key closure activity?

It is the handover of the completed product/service/result to the operations or support team for ongoing use and maintenance. It is key because business value is realized during operations, not during project execution; a smooth handover ensures sustained benefits.

What does releasing project resources involve and why is timely release important?

It involves formally freeing team members, equipment, facilities, and funding once no longer needed. Timely release is important to control costs, free resources for other organizational work, and support team members' next assignments/morale.

Why is recognizing and celebrating success an important final closure activity?

It acknowledges team contributions, boosts morale and motivation, reinforces positive behaviors, builds relationships for future projects, and provides closure for the team.

What is a final report (project closeout report) and what does it typically summarize?

A document summarizing project performance: summary of the project, scope/quality/schedule/cost objectives and how they were met, validation info, benefits realized/expected, and a summary of how the final product met the business needs.

What is the role of the assumption log throughout the project, and how is it used during execution?

The assumption log records all assumptions and constraints from project inception onward. During execution it is continually reviewed and updated as assumptions are validated or invalidated, with invalidated assumptions often triggering risks, issues, or change requests.