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Project Management Professional (PMP) Process: Managing the Project Through Execution Flashcards
50 question-and-answer cards covering Process: Managing the Project Through Execution as it is examined in Project Management Professional (PMP). 24 of them are printed below, taken from across the deck — no signup, no paywall on the preview.
24 sample cards from the Process: Managing the Project Through Execution deck
Sampled from the end of the deck, so these are different cards from the ones shown on the syllabus page.
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.
What this deck covers
The Process: Managing the Project Through Execution deck follows the Project Management Professional (PMP) Process: Managing the Project Through Execution syllabus — 4 chapters and 16 topics — so questions land on material that is genuinely examinable rather than trivia around it. That works out to roughly 12.5 cards per chapter.
Answers are written to be recallable, not just readable — averaging about 213 characters, which is long enough to carry the reasoning and short enough to say out loud.
A deck like this earns its keep on the second and third pass. Read the syllabus first so you know the shape of the subject, then use the cards to find the specific facts that have not stuck.
Process: Managing the Project Through Execution flashcards FAQ
How many Process: Managing the Project Through Execution flashcards are in this Project Management Professional (PMP) deck?
50 cards. This page previews 24 of them, sampled evenly across the deck so you can judge the difficulty before installing anything.
Are these Project Management Professional (PMP) flashcards free?
Yes. The preview here is free to read with no signup, and the full 50-card deck is free inside the Examius app.
What do the Process: Managing the Project Through Execution cards cover?
They follow the Project Management Professional (PMP) Process: Managing the Project Through Execution syllabus — 4 chapters and 16 topics — so the questions track what is actually examinable.
How should I use these flashcards?
Read the syllabus first so you know the shape of the subject, then drill the deck. Examius schedules each card with spaced repetition, so cards you keep missing come back sooner and ones you know drift further apart.