Procurement Summary

Question 1

Output of “Plan Procurement Management”

Answer 1

1) Make or Buy decision
2) Procurement Management Plan
3) Procurement Statement of Work
4) Procurement Documents Ready
5) Source Selection Criteria
6) Change Requests

Question 2

When do you choose “Make”

Answer 2

1) Idle workforce
2) Retain control
3) Work Involves proprietary information

Question 3

Output of “Conduct Procurement”

Answer 3

1) Selected Sellers
2) Signed Contracts
3) Resource Calendars
4) Change requests
5) Project management plan updates
6) Project document updates

Question 4

Output of “ Control Procurements”

Answer 4

1) Substantial completion of contract requirements and deliverables
2) work performance information
3) Change requests
4) Project management plan updates
5) Project documents updates

Question 5

Output of “Close Procurements”

Answer 5

1) Formal acceptance
2) Closed procurements
3) Lessons learned and records updates

Question 6

Key Action of “Plan Procurement Management”

Answer 6

1) Perform make-or-buy decisions
2) Create procurement management plan
3) Create procurement statement of work
4) select the appropriate contract type
5) create terms and conditions including standard and special conditions
6) Create source selection criteria

Question 7

Key Actions of “Conduct Procurements”

Answer 7

1) Find potential sellers through advertising or other means
2) send procurement documents
3) hold a bidder conference
4) answers sellers questions
5) sellers makes a decision to bid/propose
6) sellers creates responses to procurement documents
7) receive seller responses
8) compare the proposals to source selection criteria using a weighted or screening system to pick/shortlist the sellers
9) Receive presentations from seller (s)
10) compare to independent estimates
11) Hold negotiations

Question 8

Key Actions of “Control Procurements”

Answer 8

1) Understand the legal implication of your actions
2) Hold procurement performance reviews
3) request changes and administer claims
4) manage interfaces among sellers
5) report performance
6) monitor performance vs contract
7) review cost submitting
8) make payments
9) perform inspections and audits
10) maintain records of everything
11) accept verified deliverables

Question 9

Key Actions of “Close Procurements”

Answer 9

1) Perform a procurement audit
2) Negotiate settlement
3) Create lessons learned
4) Complete final contract performance reporting
5) validate the product
6) issue formal acceptance
7) Update records
8) create a procurement file
9) Perform financial closure

Question 10

Role of Project Manager in procurements

Answer 10

1) Know the procurement process so you know what will happen when
2) Understand what contract terms and conditions mean so you can read and understand contracts
3) Make sure the contract contains all the scope of work and all the project management requirements, such as attendance at meetings, reports, actions, and communications deemed necessary to minimize problems and miscommunication with the seller(s)
4) Identify risks and incorporate mitigation and allocation of risks into the contract to decrease project risk.
5) Help tailor the contract to the unique needs of the project
6) Include the time required to complete procurement process in the schedule
7) Be involved in contract negotiations to protect relationship with the seller (i.e should be Win-Win)
8) Protect integrity of project and ability to get work done
9) Help make sure all the work in the contract is done
10) Do not ask for something in the contract without making a corresponding change to the contract
11) Work with procurement manager to mange changes to contract