A project manager is receiving reports of the actual project expenditures and, based on this...

The execution phase is when the project manager and the team execute the project plan, deliver the project outputs, and monitor and control the project performance. This includes tracking and managing the project budget, scope, schedule, quality, and risks. Making adjustments to the budget based on the actual project expenditures is part of the monitoring and controlling process in the execution phase. References = CompTIA Project+ Study Guide: Exam PK0-005, 3rd Edition, Chapter 10: Executing and Closing Projects, p. 263.