Project Management & Execution Flashcards

A project closeout for a third-party agency transition should include which activity?

Answer: Documenting lessons learned and obtaining formal acceptance

Closeout confirms deliverables are accepted, releases resources, and records lessons learned.

When selecting a collection agency through an RFP, which approach best supports an objective decision?

Answer: Using a weighted scoring matrix covering compliance, recovery rates, cost, and reporting

Weighted criteria let you compare vendors objectively across several important factors.

A project's budget at completion (BAC) is $200,000 and CPI is 0.8. Using the typical formula BAC/CPI, the estimate at completion (EAC) is:

Answer: $250,000

EAC = 200,000 / 0.8 = $250,000 if current cost performance continues.

Which KPI would best measure whether a new collection process improved effectiveness, independent of sales volume swings?

Answer: Collection Effectiveness Index (CEI)

CEI compares the amount collected with the amount available to collect in a period, so it is less distorted by sales volume.

A milestone in a collections project schedule is best defined as:

Answer: A significant point or event with zero duration

Milestones mark key checkpoints and have no duration themselves.

Collectors resist a new CRM rollout. Which change-management action is most effective?

Answer: Involve key users early, explain the benefits, and provide hands-on training

Early involvement, clear communication, and training reduce resistance and speed adoption.

Which dependency type means Task B cannot start until Task A finishes, such as account data cleanup before a portfolio placement?

Answer: Finish-to-start

Finish-to-start is the most common logical relationship, where the successor begins only after the predecessor ends.