DEVRY PROJ 598 Entire Course Flashcards

1
Q

DEVRY PROJ 598 Entire Course

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PROJ 598 Week 1 DQ 1 Overview of the Project Procurement Processes
PROJ 598 Week 1 DQ 2 Building Trust
PROJ 598 Week 2 Project Assignment Part I (PP1 RFP Section 1)
PROJ 598 Week 2 DQ 1 Contract Risk
PROJ 598 Week 2 DQ 2 Why Do We Need Contracts
PROJ 598 Week 3 DQ 1 Bid v. No Bid
PROJ 598 Week 3 DQ 2 Potential Conflict - Buyers And Sellers
PROJ 598 Week 4 Project Assignment Project Part II (PP2)
PROJ 598 Week 4 DQ 1 Contract Pricing
PROJ 598 Week 4 DQ 2 Source Selection
PROJ 598 Week 5 The Award Phase - You Decide
PROJ 598 Week 5 DQ 1 Best Practices
PROJ 598 Week 5 DQ 2 Negotiating Case Study
PROJ 598 Week 6 Project Assignment Project Part III (PP3) - Formal Proposal Submission
PROJ 598 Week 6 DQ 1 Getting the Job Completed
PROJ 598 Week 6 DQ 2 World Class PMO
PROJ 598 Week 7 Negotiation Exercise
PROJ 598 Week 7 DQ 1 The Uniform Commercial Code
PROJ 598 Week 7 DQ 2 I’d like to give some advice to
PROJ 598 Week 8 Final Exam
(TCO H) What is the maximum value of a verbal contract? (Points : 5)
(TCO F) Which is not part of the award phase of the contract management process? (Points : 5)
(TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities. (Points : 16)
TCO A) Describe three techniques that build trust and a lasting partnership. Give an example for each technique and how it would impact an organization. (Points : 18)
(TCO B) Describe the seller’s pre-award stage of the contract management process. Give an example of the activity that takes place in each step. (Points : 16)
((TCO E) Describe and explain some of the tools and techniques that should be used in source selection. For example, is negotiation the only effective tool for source selection or are there others?
a .Contract negotiation, weighing systems, screening systems, and independent estimates are all manners to select appropriate sources. Regardless of the source required, there should be a process to screen suppliers in a way to empirically select a source. This reduces personal bias and other factors from the process. Page 146 (Points : 16)

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DEVRY PROJ 598 Entire Course

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2
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DEVRY PROJ 598 Final Exam

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(TCO H) What is the maximum value of a verbal contract? (Points : 5)
(TCO F) Which is not part of the award phase of the contract management process? (Points : 5)
(TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities. (Points : 16)
TCO A) Describe three techniques that build trust and a lasting partnership. Give an example for each technique and how it would impact an organization. (Points : 18)
(TCO B) Describe the seller’s pre-award stage of the contract management process. Give an example of the activity that takes place in each step. (Points : 16)
((TCO E) Describe and explain some of the tools and techniques that should be used in source selection. For example, is negotiation the only effective tool for source selection or are there others?
a .Contract negotiation, weighing systems, screening systems, and independent estimates are all manners to select appropriate sources. Regardless of the source required, there should be a process to screen suppliers in a way to empirically select a source. This reduces personal bias and other factors from the process. Page 146 (Points : 16)
(TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and with time and material agreements. Offer your opinion on which type of contract would best suit your organizational needs if you had to only select one type of agreement for all your suppliers and sub-contractors. (Points : 16)

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DEVRY PROJ 598 Final Exam

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3
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DEVRY PROJ 598 Week 1 DQ 1

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What are the four unique differences of the four procurement processes? Why are these processes fundamental to managing project procurement?

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DEVRY PROJ 598 Week 1 DQ 1

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4
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DEVRY PROJ 598 Week 1 DQ 2 Building Trust

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How do you feel intuitively about building trust in an organization? What do you think are the key ingredients in building a trusting relationship? I feel that trust in organizations is a top priority because the lack of trust can be destructive for any organization. When an organization is in a situation where people do not feel trusted, it makes for a difficult situation. People do not perform well if they are constantly worried about their job.
Check your ideas with the “Building Trust for Successful Partnerships: Checklist” on page 14 of our text. Do you see any new ideas? Do you think that building trust is inherently the same across all types of relationships?
Finally, read the Copier Confusion case in the Case Study Area within Doc Sharing. Is this case a good example of how to build a successful partnership? Why or why not? Can you relate this case study to other situations in good and bad organizations where you have seen trust change over time?

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DEVRY PROJ 598 Week 1 DQ 2 Building Trust

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5
Q

DEVRY PROJ 598 Week 2 Course Project - Part I (PP1) - RFP Section 1

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Part I (PP1)    
Assignment: Select one of the three RFP procurement cases listed below (A New Practice Field, An Environment Impact Study, and an Inventory Control System) for your Course Project. Use the RFP template located in the Doc Sharing area to complete the cover page and the following sections of the RFP (1.1, 1.2, 1.3, and 1.4).
Resources: Obviously, Chapters 1 through 6 of the text would serve as a starting point. Please be advised that considerable relevant material is also available on the Internet, so you might want to conduct a search for some materials that may yield insights into the RFP development process. Download and use the RFP template from the Doc Sharing area.
Procedures and Deadline: All project issues should be directed in the Q & A Forum or addressed in class. The PP1 RFP should be prepared in a MS Word format suitable for electronic transmission. Any resources used beyond the textbook need to be cited in your document, including links to relevant websites. Be sure to include footnotes and bibliography.
Submission Details: All PP1 documents must be submitted no later than the end of Week 2. There will be a penalty for late submissions. Submit a soft copy of your RFP in the Dropbox created for this purpose.
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DEVRY PROJ 598 Week 2 Course Project - Part I (PP1) - RFP Section 1

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6
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DEVRY PROJ 598 Week 2 DQ 1 Contract Risk

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What are some of the sources of risks associated with contracts?
Cite examples of risks that you have encountered (not necessarily in writing) when purchasing things in your own personal or professional life.
What are the sources of these risks identified by our text? Can you think of any others?
Do any types of contracts or contract situations increase risk?
Do you feel that risk is equally divided between the buyer and seller?

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DEVRY PROJ 598 Week 2 DQ 1 Contract Risk

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7
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DEVRY PROJ 598 Week 2 DQ 2 Why Do We Need Contracts

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Why do we need contracts at all?
Why would buyers and sellers differ in their overall assumptions?
What are specific frameworks of contract development that address potential problems or issues?
Is there any specific type of contract development that might be more challenging than others?
How effective are verbal contracts?

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DEVRY PROJ 598 Week 2 DQ 2 Why Do We Need Contracts

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8
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DEVRY PROJ 598 Week 3 DQ 1 Bid v. No Bid

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There are two distinct sides of any negotiation. In many cases, people tend to review contract negotiation from the buyer’s perspective. However, no analysis of contracts and negotiations would be complete without considering the seller’s perspective on bid participation and negotiation. The bid/no-bid decision requires analyzing the risks versus the opportunities of a potential business deal before deciding whether or not to proceed.
This week, we will consider the buyer’s and seller’s decision to participate on a bid. Consider the following:
What are some factors that would be taken into consideration in whether to participate in a bid? Please share any examples that you may have from your experience with bids.
What tools are available to help us make a good bid/no bid decision?
What are some implications of declining a bid on a particular project?
Consider and explain the role of research as it pertains to a bid decision.

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DEVRY PROJ 598 Week 3 DQ 1 Bid v. No Bid

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9
Q

DEVRY PROJ 598 Week 3 DQ 2 Potential Conflict - Buyers And Sellers

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Class, page 100 of our text mentions best practices for buyers and sellers in the pre-award phase. Do you see any potential conflicts between the two sets of suggestions? For best practices in the seller’s list, explore a conflict from the buyer’s side. Help your classmates consider other conflicts.
Give an example of a negotiation conflict that you have had (buyer or seller), and explain how the situation was resolved. Review what your classmates write, as all of this will offer a variety of examples of what kind of conflict can happen during a negotiation.

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DEVRY PROJ 598 Week 3 DQ 2 Potential Conflict - Buyers And Sellers

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10
Q

DEVRY PROJ 598 Week 4 Course Project Assignment Project Part II (PP2)

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Part II (PP2)    
Assignment: Project Part 2 (PP2) entails completing the remaining sections of the Request for Proposal (RFP) that was selected and prepared for Project Part 1 (PP1).
Background: The project directly addresses TCO E and covers material in Chapters 1 through 8 of the text. These chapters develop the procurement process up to the point of issuing the RFP. The remaining chapters of the book consider procurement activities undertaken subsequent to this milestone RFP event. Part 3 (PP3) will deal with material from a wider range of the Garrett text.
Terminal Course Objectives (TCOs): The following TCOs are addressed in the PP2 assignment:
TCO A: Given a project situation, discuss and document the six phases of the procurement cycle and the impact each procurement has on the overall project.
TCO B: Given a project situation, analyze the factors that are important when qualifying and selecting suppliers for a project requirement.
TCO C: Given a project situation for a major contract, examine the key factors, including risk factors, that affect buyer and supplier decisions concerning contract pricing and the selection of the proper contract type.
TCO D: Given a procurement situation for a major contract, analyze the application of e-procurement and other types of supplier
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DEVRY PROJ 598 Week 4 Course Project Assignment Project Part II (PP2)

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11
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DEVRY PROJ 598 Week 4 DQ 1 Contract Pricing

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Using alternatives specified in Chapter 8 (Garrett, pages 124-127), discuss what kind of contract pricing might be best for the following procurement situations. Arrange to select a topic “round robin style” so that you select the next topic that has not already been discussed. Which of these topics are better served using one of these contract vehicles: Firm Fixed, Cost Reimbursable, or Time & Material contracts? Be sure to define each of these contracts before aligning a topic.

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DEVRY PROJ 598 Week 4 DQ 1 Contract Pricing

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12
Q

DEVRY PROJ 598 Week 4 DQ 2 Source Selection

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Read the “Peach Computer Company” Case found in the Case Study Area of Doc Sharing, and discuss the following:
What are the main issues in the case, and how would you begin to resolve them using some of the concepts we have discussed in class?
What alternatives are available to resolve the issues?
What type of contract incentive (s) could you adopt to make this case more successful and why?
Provide an analysis of the four bidders. What are the benefits and disadvantages of each supplier? Which bidder would you select and why?
What factors should be considered or addressed in the implementation? How would you implement your recommendation?
Do you feel that company politics would have an impact on the selection of the supplier?

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DEVRY PROJ 598 Week 4 DQ 2 Source Selection

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13
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DEVRY PROJ 598 Week 5 DQ 1 Best Practices

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Class: In Chapter 9 of our World Class Contracting text, the section, Best Practices: 45 Actions to Improve Results, lists 45 actions to improve results in the contract award phase. Pick a few of these best practices that you have seen successful in action and share your experiences with the class. Comment on the choices of your classmates to discover other best practices that might be useful to you in contract negotiations. Discuss and explain which best practice you have found to be the most important or the most useful to you in the past.

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DEVRY PROJ 598 Week 5 DQ 1 Best Practices

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14
Q

DEVRY PROJ 598 Week 5 DQ 2 Negotiating Case Study

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Read and review the “BBC vs. Info R Us” Case located in Doc Sharing, let’s discuss the following questions:
How should Dan, as the contract manager, prepare for his negotiating session with BBC? How does this relate to the negotiating assignment?
What if Bennie ignores Dan’s recommendations during the negotiation with BBC? How does this relate to what you learned in the negotiating assignment?
What impact will company politics have on this negotiation?
What risks exist for Dan at this point? How does this relate to what you learned in our negotiating assignment?

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DEVRY PROJ 598 Week 5 DQ 2 Negotiating Case Study

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15
Q

DEVRY PROJ 598 Week 5 You Decide

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You are Chris and Pat Smith, entrepreneurs with five years of experience investing in small businesses. Eighteen months ago you decided to invest in a catering venture with two chefs, J. P. Martin and L. L. Miller, who have culinary science degrees and five years of work experience, which includes winning a prestigious prize in a gourmet food competition. Following some extended discussions, the four of you decided to set up a business catering to parties and weddings under the name of At Your Service.
The arrangement between you was quite informal. Essentially you put up $25,000 and the chefs put up $10,000 in capital to get the operation started. You were to manage the advertising, and the bookkeeping. The chefs’ contribution was to set up the kitchen and menus, cook, hire staff, and be on site to supervise all catering jobs. The agreement between you was that the profits would be split 50-50 after clearing fixed expenses.
Although the first few months were difficult and At Your Service had to use some of the investment reserves to cover monthly expenses, a good newspaper review produced a spurt of business in the third month when the company not only covered fixed costs, but

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DEVRY PROJ 598 Week 5 You Decide

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16
Q

DEVRY PROJ 598 Week 6 Course Project Part III (PP3) - Formal Proposal Submission

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Part III (PP3)    
Assignment: PP1 and PP2 were designed to highlight TCOs A, B, C, D, and E. In terms of textbook coverage, PP1 dealt with material in Chapters 1 through 8. In contrast, PP3 covers all of the TCOs but touches mainly upon textbook Chapters 9 through 12. You will be required to identify an opportunity through https://www.Fbo.gov and follow the instructions which are located in the Doc Sharing section.
This project is to be prepared and submitted in accordance with the guidelines presented below.
Submission Details:
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DEVRY PROJ 598 Week 6 Course Project Part III (PP3) - Formal Proposal Submission

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17
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DEVRY PROJ 598 Week 6 DQ 1 Getting the Job Completed

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Why is it sometimes difficult to get suppliers to complete the final work activities? Do you have any experiences to share or observations related to interesting examples around us? Additionally:
Why is it more difficult to get fixed-price contractors to complete their contract work as compared to reimbursable contractors?
What can be done to induce fixed-price contractors to become more responsive?
What other types of strategies can be employed to induce contractors to finish the work on time?
How does risk relate to getting the final work completed?
How often have you seen projects completed early?
This subject is discussed in detail in Chapter 10 of your World Class Contracting text. Please review the material there as well as from any other sources that you can find.

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DEVRY PROJ 598 Week 6 DQ 1 Getting the Job Completed

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18
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DEVRY PROJ 598 Week 6 DQ 2 World Class PMO

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DEVRY PROJ 598 Week 6 DQ 2 World Class PMO

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19
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DEVRY PROJ 598 Week 7 DQ 1 The Uniform Commercial Code

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TCO H is as follows: Given a claim on a major contract, analyze the role of commercial terms and conditions, the Uniform Commercial Code (UCC), and applicable government regulations on the outcome.
Assume that you are a seller, and the buyer makes a claim on a major contract that you oversee. Let’s discuss the following aspects of the UCC:
First, how might commercial terms and conditions impact the outcome? Second, analyze the potential role of the UCC on the outcome. Third, what role might applicable government regulations play on the outcome? Fourth, if the agreement is silent on a topic, how might the UCC protect each party?
Also, consider why the Uniform Commercial Code exists. Is it important? How does it affect commerce?

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DEVRY PROJ 598 Week 7 DQ 1 The Uniform Commercial Code

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20
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DEVRY PROJ 598 Week 7 DQ 2 I’d like to give some advice to

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Based on our discussions, please offer some ideas on how you will apply the knowledge from this class to assist with future negotiations. Then, name some people, whether in public, business, or private life, whom you would like to advise on their contracting management style. What are some of the issues you would like to address, and how might they benefit from some of the ideas in the class? What specifically would you suggest? Comment on the ideas of your classmates to help them develop their ideas.

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DEVRY PROJ 598 Week 7 DQ 2 I’d like to give some advice to

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21
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DEVRY PROJ 598 Week 7 Negotiation Exercise

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Write a three-to-five page paper about any negotiation that you have been involved in. For this assignment, preferably discuss a negotiation that did not result in the best possible solution for all parties. This negotiation can relate to a work experience, a family or friend experience, or any other experience where you were an active member of a negotiation.
Discuss how the negotiation experience actually happened, then consider the negotiating techniques that you have learned about in the past four weeks of class, and then offer an explanation of how you could have conducted the negotiation better. Explain where your new learning from the course might have been helpful in this previous negotiation.
Deliverable: Three-to-five page paper outlining your response to the above assignment

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DEVRY PROJ 598 Week 7 Negotiation Exercise

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