General Questions

Question 1

Question:
Project Procurement Management includes all of the following EXCEPT?

A. Agreements should comply with local, state, national, and international laws regarding contracts

B. Procurement uses a single contract for each project

C. Procurement involves agreements that describe the relationship between buyer & seller

D. The project manager should ensure that all procurements meet the specific needs of the project

Answer 1

B. Procurement uses a single contract for each project

Question 2

Question:

Name a project agreement

Answer 2

• Project charter
• SOW (Scope/Statement of work
• Team charter
• Pricing & payment terms with incentives & penalties
• Acceptance criteria
• Definition of Done
• Terms & Conditions
• Go live agreement
• Termination clause

Question 3

Question:

Does Negotiate Project Agreements fall under People, Process, or Business Environment?

Answer 3

People

Follow up - Why do you it falls under people?

Question 4

Agreement Negotiation Lifecycle

Step 1

Answer 4

Decide to negotiate:

Identify & define the problem & if you’ll negotiate, agree, or demand

Question 5

Agreement Negotiation Lifecycle

Step 2

Answer 5

Prepare:

• Understand the problem,
• Define goals
• Build relationships
• Define best objectives

Question 6

Agreement Negotiation Lifecycle

Step 3

Answer 6

Negotiate:

• Generate & evaluate alternatives
• Select
• Reiterate alerternatives
• Get it in writing,
• Create action plan & timeline

Question 7

Agreement Negotiation Lifecycle

Step 4

Answer 7

Execute:

• Congratulate other parties,
• Follow up to ensure the action plan is implemented

Question 8

Agreement Negotiation Lifecycle

Step 5

Answer 8

Follow Up

• Nurture relationship
• Check compliance

Question 9

Question:

Does Plan & Manage Procurement fall under People, Process, or Business Environment?

Answer 9

Process

Follow up - why do you think so?

Question 10

Procurement Strategy Steps

Answer 10

1. Analyze Scope
2. Make-or-Buy Analysis
3. Make-or-Buy Decisions
4. Create Procurement Management Plan
5. Create SOW & execute procurement

Question 11

Question: Has anyone ever done a make-or-buy analysis? If so, can you talk about it?

Answer 11

:)

Question 12

Question

What is included in a procurement management plan?

Answer 12

• Timetable of key procurement activities
• Types of contracts to be used
• Process for obtaining & evaluating bids
• Procurement documents that will be used
• How multiple providers will be managed
• Any prequalified sellers

Question 13

Question:

The set of attributes desired by the buyer is known as…

Answer 13

Source selection criteria

Question 14

Fixed fee or fixed price work can sometimes be a challenge with which project management methodology?

Answer 14

Agile - why?