Procurement Flashcards
Project Procurement Management includes all of the following EXCEPT:
A. Procurement involves agreements that describe the relationship between a buyer and a seller
B. Agreements should comply with local, national, and international laws regarding contracts
C. Procurement uses a single contract for each project
D. The project manager should ensure that all procurements meet the specific needs of the project
Procurement uses a single contract for each project
What is the right to apply project resources, expend funds, make decisions, or give approvals?
A. Authority
B. Permissions
C. Management
D. Rights
Authority
Which of the following is a process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected?
A. Revision control
B. Change control
C. Project management plan updates
D. Document updates
Change control
Which of the following best describes Project Procurement Management?
A. A description of all purchases outside of the project scope
B. An agreement to purchase goods from a vendor or seller
C. A technique of systematically gathering and analyzing quantitative and qualitative information
D. The process necessary to purchase or acquire products, services, or results from outside the project team
The process necessary to purchase or acquire products, services, or results from outside the project team
Which of the following identifies any document or communication that defines the initial intentions of a project?
A. Deliverable
B. Requirement
C. Agreement
D. Acceptance
Agreement
All legal contracted relationships generally fall into one of the following broad categories EXCEPT:
A. Time and material contracts (T&M)
B. Request for proposal (RFP)
C. Fixed-price contracts
D. Cost-reimbursable contracts
Request for proposal (RFP)
What is the key difference between a bid and proposal?
A. A proposal is used when the selection decision will be based on price
B. A bid is used when the selection decision will be based on price
C. A bid is used when technical capability or technical approach are paramount
D. A proposal is used when the project time frame is limited
A bid is used when the selection decision will be based on price
Which of the following describes the procurement statement of work (SOW)?
A. A set of attributes desired by the buyer which a seller is required to meet to be selected for a contract
B. Approved version of the scope statement and work breakdown structure
C. Contract amendment for an uncontrolled expansion to product or project scope without adjustments to cost and resources.
D. Description of the procurement item in sufficient detail to allow prospective seller to determine if they are capable by your products, services or results.
Description of the procurement item in sufficient detail to allow prospective seller to determine if they are capable by your products, services or results.
Which of the following is used to determine whether work or deliverables can be best accomplished by the project team or should be purchased from outside sources?
A. Make-or-buy decision
B. Multicriteria decision analysis
C. Decision tree analysis
D. Seller selection decision
Make-or-buy decision
All of the following are inputs to the Plan Procurement Management process EXCEPT:
A. Enterprise environmental factors
B. Procurement strategy
C. Project charter
D. Business documents
Procurement strategy
Which of the following are examples of source selection criteria?
A. Transportation organization and delivery resource
B. Relevant experience and vendor costs
C. Vendor recommendations and scheduled milestones
D. Delivery dates and financial stability
Delivery dates and financial stability
Which is the definition of statement (SOW)?
A. A narrative description of the products, services or results to be delivered by the project
B. Formal managements from sellers to the Request for Proposal or other procurement documents specifying price, commercial terms of sale and technical specifications.
C. The uncontrolled expansion to product or project scoop without adjustments to plan, cost and resources.
D. The approved version of a Scope Statement Work Breakdown Structure and its associated WBS Dictionary.
A narrative description of the products, services or results to be delivered by the project
How is the statement of work for procurement developed?
A. It is developed from the project management plan and outlines only cost above the contracted price
B. It is developed from the project scope baseline and defines only that portion of the project scope that is to be included within the remaining contract
C. It is developed by using work performance data necessary for project completion.
D. It is developed by taking each component of the work breakdown structure, assigning a resource, and writing an amendment.
It is developed from the project scope baseline and defines only that portion of the project scope that is to be included within the remaining contract
Which of the following contract types are used when the requirements are well defined and no significant changes to the scope are expected?
A. Time and material contracts
B. Cost, reimbursable contracts
C. Partnership contracts
D. Fixed price and contracts
Fixed price and contracts
When a buyer seeks to ensure that a proposal selected will offer the best quality for the services required, what type of evaluation is used?
A. Entrance criteria
B. Governance criteria
C. Source Selection criteria
D. Success criteria
Source Selection criteria
Which cost reimbursable contract provides the seller reimbursement for all of allowable costs for performing the contract work and a fixed fee payment calculated as a percentage of commercial estimated project cost?
A. Cost plus award fee
B. Cost plus incentive fee
C. Cost plus fixed fee
D. Cost plus time and materials fee
Cost plus fixed fee
All the following are true about the statement of work or procurement EXCEPT:
A. Sufficient detail can vary based on the nature of the island, the needs of the buyer, or the expected contract.
B. It can be ambiguous or incomplete to allow for future generations
C. It can include specifications, quantity, desired quality levels, performance data, period of performance, work location and other requirements
D. It describes procurement and sufficient detail to allow prospective sellers to determine if they are capable of providing the product, services or results.
It can be ambiguous or incomplete to allow for future generations
Procurement negotiation should be led by:
A. Designated legal counsel for the project
B. A member of the procurement team who has the authority to sign contracts
C. A member of the procurement team with previous negotiation experience
D. The project manager
A member of the procurement team who has the authority to sign contracts
In many projects, negotiation is:
A. A direct result of ineffective decision making
B. Conducted by senior executives to increase the probability of project success
C. Primarily the concern of contract administration
D. A discussion aimed at reaching an agreement
A discussion aimed at reaching an agreement
All of the following statement related to advertising are part of the Conduct Procurements process EXCEPT:
A. Some government jurisdictions require public advertising of certain types of procurement items
B. Advertisements can be placed in general circulation publications such as selected newspapers or in specialty trade publications
C. Advertisements in general circulation publications and using online resources can cause public pressure, resulting in bid disputes
D. Advertising can often be used to expand existing lists of potential sellers
Advertisements in general circulation publications and using online resources can cause public pressure, resulting in bid disputes
Within the Conduct Procurements process, expert judgement should be considered from individuals or group with specialized knowledge or training in which of the following topics?
A. Interpersonal and team skills
B. Advertising
C. Proposal evaluation
D. Performance reporting
Proposal evaluation
The buyer prepares procurement documents, which include all of the following EXCEPT:
A. Source selection criteria and independent cost estimates
B. Bid documents
C. Procurement statement of work
D. Control procurement documents
Control procurement documents
Which of the following is a tool and technique of the Conduct Procurements process?
A. Seller proposals
B. Claims administration
C. Bidder conferences
D. Audits
Bidder conferences
Which phrase BEST describes the source selection criteria?
A. A narrative description of products, services, or results to be delivered by the project
B. A technique of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project
C. A project document including the identification, assessment, and classification of project stakeholders
D. A set of attributes desired by the buyer which a seller is required to meet or exceed to be selected for a contract
A set of attributes desired by the buyer which a seller is required to meet or exceed to be selected for a contract
