17A - Monitor and Control Vendors and Procurements

Question 1

The management technique that is used to obtain resources, such as people, facilities, equipment, and materials, for the project through an external organization, while developing, maintaining, and improving relationships with the vendors.

Answer 1

vendor management

Question 2

The evaluation of the vendor’s work that verifies that the work performed is in accordance with the scope, quality, and cost as defined by the contract.

Answer 2

procurement performance review

Question 3

An offshoot of the overall change control system, but detected specifically to controlling contract changes.

Answer 3

contract change control system

Question 4

Conducted by the buyer to verify compliance in the vendor’s work processes or deliverables. The goal of the audit is to establish a record that may be used to shape procurement practices for current and future projects.

Answer 4

vendor audit

Question 5

Systems that are used to make payments to the vendors that are made contingent on the acceptance of the delivered goods or services and on the receipt of a valid invoice for the goods or services.

Answer 5

payment systems

Question 6

Disputes that arise when buyers and vendors cannot agree on changes.

Answer 6

claims (appeals)

Question 7

A software application that is used to manage the project vendors, procurements, and contract documentations.

Answer 7

records management system