CHAPTER 6 Flashcards
A document provided by sellers providing pricing for standard items that have been clearly defined by the buyer
Bid
A document that guides project communications
Communication Management Plan
The process of ensuring that the project’s processes and products meet written specifications
Conformance to Requirements
The predefinied actions that the project team will take if an identified risk event occurs
Contingency Plans
The funds held by the project sponsor that can be used to mitigate cost or schedule overruns if known risks occur
Contingency Reserves/Funds/Allowances
The mutually binding agreements that obligate the seller to provide the specified products or services, and obligate the buyer to pay for them
Contracts
A contract that involves payment to the seller for direct and indirect actual costs
Cost-Reimbursable Contract
The plans that are developed for risks that have a high impact on meeting project objectives, and are put into effect if attempts to reduce the risk are not effective
Fallback Plans
Regulation that provides uniform policies for acquisition of supplies and services by executive agencies in the US
FAR
Federal Acquisition Regulation
The ability of a product to be used as it was intended
Fitness for Use
A type of contract that involves a fixed price for a well defined product or services
Fixed Price or Lump Sum Contract
The process of estimating the internal costs of providing a product or service and comparing that cost to outsourcing
Make-Or-Buy Analysis
Funds held for unknown risks that are used for management control purposes
Management Reserves
A standard of measurement
Metric
A document that describes the goods or services to be purchased
SOW
Procurement Statement of Work
