Module 11 Procurement Flashcards
Which of these are NOT element(s) of a contract which makes it legally binding:
A. Offer & Acceptance
B. Parties must have authority and the contract must have consideration
C. Must be fair and within the agency’s legislatively directed scope.
D. A contract must be for legal activities
C. Must be fair and within the agency’s legislatively directed scope.
What are the 3 processes within Project Procurement Management according to the PMBOK®?
A. Control, Conduct, Terminate
B. Plan, Conduct, Control
C. Document, Change Control, Administer
D. Plan, Change Control, Close
B. Plan, Conduct, Control
Which of the following statements about contract negotiations is correct?
A. Minimizing concessions during the negotiation phase will reduce conflict during the contract execution phase.
B. The most effective negotiating strategy is to define your objectives in advance and to maintain them at all costs.
C. The most successful contract negotiations are those that preserve the working relationship by satisfying needs on both sides.
D. In most contract negotiations, one side usually wins and the other side usually loses.
C. The most successful contract negotiations are those that preserve the working relationship by satisfying needs on both sides.
The ________ documents the portion of work to be purchased, in enough detail so potential suppliers can decide if they feel they are capable of and interested in providing it.
A. procurement statement of work
B. purchase order
C. request for quotation
D. request for information
A. procurement statement of work
Evaluations of prospective suppliers by project teams often involve which of the following approaches?
A. facility visits
B. third party evaluations
C. all of these
D. supplier surveys
C. all of these
According to the PMBOK, Inputs to the Plan Procurement Process are:
A. Charter, Business Case, completed Source Selection criteria
B. Activity Cost Estimates, Project Schedule, Signed Contract, and Lessons Learned
C. Activity Cost Estimates, Cost Performance Baseline, 50% complete Earned Value report
D. Scope Management Plan, Business Case, and Risk Register
D. Scope Management Plan, Business Case, and Risk Register
The procurement management plan:
A. describes how supply chain partners will be managed.
B. describes how the procurement division will be managed.
C. describes how sellers will be audited by the procurement team.
D. describes how a project team will acquire goods and services from outside the performing organization.
D. describes how a project team will acquire goods and services from outside the performing organization.
Which party to a contract absorbs the majority of cost risk when a Firm-Fixed-Price (FFP) contract is used?
A. the buyer
B. the cost risk is equally shared.
C. the seller (vendor)
D. the insurer
C. the seller (vendor)
A request for proposal (RFP) is used to:
A. informally gather information on goods and services the seller (vendor) can provide
B. respond to a competitive bid
C. solicit bids from vendors
D. create project budgets
C. solicit bids from vendors
Which of these is NOT associated with Make vs Buy Analysis:
A. Allows for the project manager to discuss make vs buy decision(s) in terms of agency needs, not just project needs.
B. Negotiate contracts.
C. PMBOK process to close projects.
D. Provides a mechanism for the project team and/or project manager to analyze whether or not to outsource.
C. PMBOK process to close projects.
Often a project team will start the selection process by establishing a list of potential suppliers. All of the following information sources are frequently used to identify these potential suppliers EXCEPT:
A. stakeholder register
B. trade shows
C. supplier catalogs or websites
D. sales personnel
A. stakeholder register
Which is NOT one of the three major categories of things that state projects procure?
A. Concierge services
B. Personal Services
C. Goods
D. Trade Services
A. Concierge services
Several prospective contractors ask the same question about the statement of work at the pre-bid conference. To insure that all bidders have the same interpretation, the project manager should:
A. telephone all bidders
B. issue a bid document amendment to clarify the issue
C. postpone contractor selection and rewrite the statement of work
D. give all bidders more time to review the bid documents
B. issue a bid document amendment to clarify the issue
Project partnerships offer all of the following advantages to vendors EXCEPT:
A. More dependable stream of work
B. Buyer gains at the vendor’s expense
C. Clearly stated expected outcome
D. Greater potential profit
B. Buyer gains at the vendor’s expense
When writing the procurement Statement of Work (SOW), which of these are audiences you need to consider when working for the State:
A. The public
B. All of these
C. The Department of Justice
D. Private companies, who may submit a bid
B. All of these
All of the following entities are typically included in the supply chain EXCEPT:
A. project team
B. suppliers
C. consumers
D. public relations
D. public relations
Expert Judgment is used as a Tool and Technique in several procurement processes. Which of the following IS NOT one of the experts you typically would consult during procurement:
A. Technical experts
B. Legal Experts
C. Purchasing experts
D. HR expert
D. HR expert
Which of the following factors should be considered in a make-or-buy decision?
A. prevailing public opinion regarding the economic impact of outsourcing
B. advantages and disadvantages of outsourcing in terms of time, cost and performance control
C. project manager’s or sponsor’s preference
D. only the direct costs associated with the decision, excluding consideration of indirect costs
B. advantages and disadvantages of outsourcing in terms of time, cost and performance control
Evaluation criteria used to rate proposals and other supplier characteristics might include all of these EXCEPT:
A. supply quality
B. personal relationships with senior management
C. replenishment lead time
D. inbound transportation cost
B. personal relationships with senior management
All of the following statements accurately describe supply chain management EXCEPT:
A. It spans across suppliers and producers, resellers, project organizations and consumers.
B. It is a closed-loop system solely within the project organization’s boundaries.
C. It addresses the flow of material, service, monetary and information across supply chain partners.
D. It is a system’s approach to managing the entire flow of physical products.
B. It is a closed-loop system solely within the project organization’s boundaries.
