Chapter 19 Flashcards
Bidder conferences are used to:
Answer questions about the project prior to submittal of proposals
Answer questions about the project after contract award
Debrief the bidder on their performance after completion of the contract
Solicit pricing information from the bidders on proposed scope changes
Answer questions about the project prior to submittal of proposals
During contract negotiations, the goal of the buyer is to:
Get the seller to accept the greatest risk
Get the highest quality result for the lowest price
Get the seller to agree to scope changes at no cost to the buyer
Try to get the least amount of work done at the lowest price
Get the highest quality result for the lowest price
During contract negotiations, the goal of the seller is to:
Get the buyer to accept the greatest amount of risk
Get the largest possible profit margin regardless of the risk
Get the largest possible price for the contract
Negotiate a contract where the profit margin is commensurate with the risk the contractor is expected to incur
Negotiate a contract where the profit margin is commensurate with the risk the contractor is expected to incur
Which of the following contract types has the greatest risk with the buyer? Cost sharing Cost-Plus-Incentive-Fee Firm-Fixed-Price Fixed-Price-Incentive-Fee
Cost-Plus-Incentive-Fee
Which of the following contract types has the greatest risk with the seller? Cost sharing Cost-Plus-Incentive-Fee Firm-Fixed-Price Fixed-Price-Incentive-Fee
Firm-Fixed-Price
\_\_\_\_\_ source contracting is when multiple suppliers exist but only one is selected to receive the contract Preferred Sole Single Surety
Single
\_\_\_\_\_ source contracting is when there exists only one supplier in the market-place to satisfy the requirements of the contract. Preferred Sole Single Surety
Sole
Companies that give part of a procurement contract to multiple suppliers do so to: Promote and maintain competition Reduce reliance on just one supplier Minimize procurement risks All of the above
All of the above
Which of the following is not one of the three types of specifications discussed in the text? Design specifications Material specifications Performance specifications Functional specifications
Material specifications
For long-term projects, such as weapon systems projects, contracted for by the Department of Defense, the type of contract can change from life cycle phase to life cycle phase.
True
False
True
Which of the following is generally not part of “Conducting the Procurements”? Perform a make-or-buy analysis Confirm qualified sources Review past performance of sources Produce a solicitation package
Perform a make-or-buy analysis
The cost of renting a piece of equipment is $200 per day and the leasing cost is $5000 plus $100 per day. The breakeven cost between renting and leasing occurs at \_\_\_\_\_ days. 30 50 100 200
50
Which of the following is generally not included in a solicitation package?
Listing of qualified vendors
Past bidding history of qualified vendors
How changes will be managed
Supplier payment plan
Past bidding history of qualified vendors
Which of the following would be included in a scoring model for evaluating bidders?
Overall bid price
Financial strength (ability to stay in business)
Intellectual property rights
All of the above
All of the above
In which of the following would the price of a possible contract not be included? Request for information (RFI) Request for quotation (RFQ) Request for proposal (RFP) Invitation for bids (IFB)
Request for information (RFI)
“Hygiene Factors” refers to:
How a contractor should respond to an RFP
The type of proposal expected by the seller
How and where contract negotiations will take place
How many bidder conferences will be held
How and where contract negotiations will take place
A covenant providing restrictions on certain proprietary knowledge is called a: Non compete clause Non disclosure clause Non conformance clause Penalty clause
Non disclosure clause
Failure to exercise one’s activity in such a manner that a reasonable person would do in a similar situation is: Negligence Liquidated damages Breach of contract Privity of contract
Negligence
An intentional relinquishment of a legal right is a (n): Infringement Breach of contract Waiver Termination liability
Waiver
The type of contract where all of the seller’s costs are reimbursed and the seller will also receive a percentage of the profit pool based upon how well the buyer likes the end result is a \_\_\_\_\_ contract. Cost-sharing Cost-plus-award-fee Cost-plus-fixed-fee Cost-plus-incentive-fee
Cost-plus-award-fee
Which type of cost-plus contract provides the seller with a guaranteed dollar-value profit rather than as a percentage? Cost-sharing Cost-plus-award-fee Cost-plus-fixed-fee Cost-plus-incentive-fee
Cost-plus-fixed-fee
Which type of contract has a sharing ratio and a ceiling on the profit? Fixed price Cost-plus-incentive-fee Cost-plus-fixed-fee Cost-sharing
Cost-plus-incentive-fee
Which type of contract has a point of total assumption? Cost-plus-incentive-fee Fixed-price-incentive-fee Firm-fixed-price Cost-plus-award-fee
Fixed-price-incentive-fee
Which of the following is part of the responsibility of a contract administrator?
Inspections and audits
Performance reporting (Documenting seller’s performance)
Approval of waivers
All of the above
All of the above
Billing the cost of repairs against a financially closed out project is called \_\_\_\_\_. Back charging Refinancing Order of precedence Arbitration
Back charging
