For complex procurement items, often contract negotiation can be an independent process. An example of an input if such a process is used is______________
A. Open items list B. Approved changes C. Documented decisions D. Expert judgment
Correct Answer: A
Explanation:
Explanation:
Issues or an open item list are examples of inputs if contract negotiation is an independent process. Outputs are documented decisions. While contract negotiations may need to be a separate process for complex procurements, for simple procurement items, the
terms and conditions of the contract can be fixed and nonnegotiable.
A number of factors affect make-or-buy decisions such as______________
A. Desired level of quality B. Risk-related contract decisions C. Value delivered by vendors meeting the needs D. Performance data
Correct Answer: C
Explanation:
Explanation:
Other factors to consider include the core capabilities of the organization, the risks associated with meeting the need in a cost-effective way, and capability internally compared with the vendor community.
Work performance information in control risks means that______________
A. Recommended preventive or corrective action is considered through change requests B. Outcomes of risk reassessments and risk audits are documented C. Templates to the risk management plan and the risk register are recommended D. A mechanism to communicate and support project decision making is provided
Correct Answer: D
Explanation:
Explanation:
All of the answers are outputs in the control risks process, however, work performance information specifically provides a mechanism to communicate and support project decision making.
Your firm specializes in roller-coaster construction. It recently received an RFP to build the world's most "death-defying" roller coaster. You know that such a roller coaster has never been built before and that this would be a high-risk project. You are receiving a
cost-plus-award-fee contract, which means______________
A. Your fee will be paid for completed work B. Your fee amount will not change unless there is a scope change C. Your fee is generally not subject to appeals D. If your final cost is greater, you will share costs with the buyer based on a pre-negotiated cost sharing formula
Correct Answer: C
Explanation:
Explanation:
This contract type reimburses the seller for all legitimate costs, but the majority of the fee is earned only based on the satisfaction of broad subjective performance criteria defined and incorporated in the contract. The fee determination is based on subjective
determination of seller performance by the buyer; it generally is not subject to appeals.
One way to make it more likely practice project risk management on projects is to______________
A. Hold meetings B. Have the team take an orientation class on risk management early in the project C. Give one team member the responsibility for risk management working in conjunction with the PMO D. Assign each team member a risk to own, which is documented in the risk register
Correct Answer: A
Explanation:
Explanation:
Meetings are a tool and technique in the control risks process. Risk management should be an agenda item at periodic status meetings. While the amount of time needed for risk management will vary depending on the identified risks, their priority, and the
difficulty of the response, the more often risk management is practiced, the easier it becomes. Frequent discussions about risk make it more likely that risks and opportunities will be identified.
A weighting system can be used for all but which one of the following reasons?
A. To select a single seller that will be asked to sign a standard contract B. To establish a negotiating sequence by ranking all proposals by the weighted evaluation scores that have been assigned C. To quantify qualitative data to minimize possible bias D. To establish minimum requirements of performance for one or more of the evaluation criteria
Correct Answer: D
Explanation:
Explanation:
Weighting systems are developed and used to help select the best vendor as part of the proposal evaluation techniques. By assigning a numerical weight to each evaluation criteria, the buyer can emphasize one area as being more important than another. These
proposal evaluation techniques are a tool and technique in the conduct procurements process.
Managing five contractors on your project for a new stadium in your City that can be used for baseball and for football and can be easily converted for either sport is a challenge along with managing your 15 person project team. You decided to conduct an audit of
one of your contractors and are______________
A. Using it as a baseline for improvements to the other contracts under way B. Verifying compliance in the seller's work processes C. Accompanying it with a project quality audit D. Using it for lessons learned documentation
Correct Answer: B
Explanation:
Explanation:
Inspections and audits are tools and techniques in the control procurements process. They are required by the buyer and supported by the seller in the procurement contracts and can be conducted as the project is executed to verify compliance in the seller’s
work processes or deliverables.
You are identifying possible risks to your project concerning the development of a nutritional supplement. You want to reach out to your experts and build consensus on the risks that qualitative and quantitative risk analysis can address later. Although you can use
various techniques, a key information gathering technique that helps to build consensus is______________
A. Documentation review B. Probability/impact analysis C. Checklist analysis D. Delphi technique
Correct Answer: D
Explanation:
Explanation:
When consensus is necessary, the Delphi technique is a frequently used information gathering technique. A facilitator first sends out a questionnaire to the experts to solicit ideas. The responses then are summarized and returned to the experts for further
comment. Consensus generally is reached after a few such rounds. The Delphi technique helps to reduce bias in the data and the undue influence of one person on the outcome.
You are managing a moderately risky project. You have done well identifying risks and assessing them both on the probability of the risk event occurring and on the level of impact that the risk could have on your project if it actually occurred. But to help with a
"next" level of qualitative risk analysis, you could use a______________
A. Risk priority assessment B. Risk quality assessment C. Risk urgency assessment D. Quantitative risk analysis
Correct Answer: C
Explanation:
Explanation:
Risks that may occur in the near-term need urgent attention. The purpose of the risk urgency assessment is to identify those risks that have a high likelihood of occurring. Assessing risk urgency can be combined with the risk ranking that is determined from the
probability and impact matrix for a final risk severity rating.
Working in the systems integration field, you are primarily responsible for coordinating the work of numerous subcontractors. Your current project is coming to an end. You have 15 major subcontractors as well as a variety of other sellers. Now that you are closing
contracts (procurements), you should______________
A. Conduct a trend analysis B. Use earned value to assess lessons learned C. Ask each contractor to meet with you individually at its own expense D. Conduct a procurement audit
Correct Answer: D
Explanation:
Explanation:
The procurement audit attempts to identify successes and failures relative to the procurement process especially in terms of the preparation or administration of other procurement contracts on the project or on other projects in the organization. Uncovering and
reporting both successes and failures can contribute to the project management knowledge base and improve the quality of project management services. A procurement audit should be conducted as part of the close procurements process.
