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The temporal evolution of functional connectivity (FC) within the confines of individual scans is nowadays often explored with functional neuroimaging. This is particularly true for resting-state; yet, FC-dynamics have also been investigated as subjects engage on numerous tasks. It is these research efforts that constitute the core of this survey. First, empirical observations on how FC differs between task and rest—independent of temporal scale—are reviewed, as they underscore how, despite overall preservation of network topography, the brain's FC does reconfigure in systematic ways to accommodate task demands. Next, reports on the relationships between instantaneous FC and perception/performance in subsequent trials are discussed. Similarly, research where different aspects of task-concurrent FC-dynamics are explored or utilized to predict ongoing mental states are also examined. The manuscript finishes with an incomplete list of challenges that hopefully fuels future work in this vibrant area of neuroscientific research. Overall, this review concludes that task-concurrent FC-dynamics, when properly characterized, are relevant to behavior, and that their translational value holds considerable promise. •Functional connectivity reshapes efficiently when switching between rest and task.•Moment-to-moment FC can predict subsequent perceptual outcomes.•Task-concurrent dynamic-FC metrics have significant behavioral relevance.•Analytical and interpretational challenges of task dynamic-FC are discussed.