Exam 12: Project Procurement Management

"A shortage of qualified personnel is one of the main reason that companies outsource. A project may require experts in a particular field for several months and planning for this procurement ensures that the needed services will be available for the project." Which of the following benefits does this characteristic of outsourcing provide an organization?

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Question 1

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_____ are oral or written acts or omissions by someone with actual or apparent authority that can be construed to have the same effect as a written change order.

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Question 2

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Constructive change orders

How is a statement of work (SOW) different from a contract statement of work? What are some of the requirements for creating a contract SOW?

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Question 3

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The statement of work (SOW) is a description of the work required for the procurement. If a SOW is used as part of a contract to describe only the work required for that particular contract, it is called a contract statement of work. The contract SOW is a type of scope statement that describes the work in sufficient detail to allow prospective suppliers to determine if they are capable of providing the goods and services required and to determine an appropriate price.
A contract SOW should be clear, concise, and as complete as possible. It should describe all services required and include performance reporting. It is important to use appropriate words in a contract SOW such as must instead of may. It should specify the products and services required for the project, use industry terms, and refer to industry standards.
It should specify the location of the work, the expected period of performance, specific deliverables and when they are due, applicable standards, acceptance criteria, and special requirements. A good contract SOW gives bidders a better understanding of the buyer's expectations. A contract SOW should become part of the official contract to ensure that the buyer gets what the supplier bid on.

Make-or-buy analysis involves comparing the internal costs of providing a product with the cost of outsourcing.

(True/False)

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Question 4

The process of source selection involves evaluating proposals from sellers, choosing the best one, negotiating, and awarding the _____.

(Short Answer)

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Question 5

A drawback of outsourcing is that:

(Multiple Choice)

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Question 6

After planning for procurement management, which of the following does the next process involve?

(Multiple Choice)

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Question 7

Outsourcing suppliers can often provide economies of scale, especially for hardware and software, that may not be available to the client alone. Which of the following benefits does this offer an organization?

(Multiple Choice)

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Question 8

What are some of the advantages that outsourcing offers which is encouraging many companies to adopt it?

(Essay)

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Question 9

All contracts should include specific clauses that take into account issues unique to the project.

(True/False)

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Question 10

What are the four types of cost-reimbursable contracts? Briefly describe each type.

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Question 11

All procurement documents should be in _____ form in order to facilitate accurate and complete responses from prospective sellers.

(Short Answer)

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Question 12

The fee in a CPFF contract constantly varies even when the scope of a contract remains the same.

(True/False)

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Question 13

The contractual relationship is a legal relationship, which means it is subject to state and federal contract laws.

(True/False)

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Question 14

If an organization has no need to buy any products or services from outside the organization, then it has no need to perform any of the procurement management processes.

(True/False)

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Question 15

"Outsourcing to provide extra workers during periods of peak workloads can be much more economical than trying to fill entire projects with internal resources." Which of the following advantages does this characteristic of outsourcing provide organizations?

(Multiple Choice)

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Question 16

With a(n) _____ contract, the buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs.

(Multiple Choice)

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Question 17

Which of the following processes of project procurement management involves managing relationships with sellers, monitoring contract performance, and making changes as needed?

(Multiple Choice)

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Question 18

A(n) _____ type of e-procurement that Identifies new suppliers for a specific category of purchasing requirements using Internet technology.

(Short Answer)

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Question 19

A(n)_____ conference helps ensure that everyone has a clear, common understanding of the buyer's desired products or services.

(Short Answer)

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Question 20

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_____ are oral or written acts or omissions by someone with actual or apparent authority that can be construed to have the same effect as a written change order.

How is a statement of work (SOW) different from a contract statement of work? What are some of the requirements for creating a contract SOW?

Make-or-buy analysis involves comparing the internal costs of providing a product with the cost of outsourcing.

The process of source selection involves evaluating proposals from sellers, choosing the best one, negotiating, and awarding the _____.

A drawback of outsourcing is that:

After planning for procurement management, which of the following does the next process involve?

Outsourcing suppliers can often provide economies of scale, especially for hardware and software, that may not be available to the client alone. Which of the following benefits does this offer an organization?

What are some of the advantages that outsourcing offers which is encouraging many companies to adopt it?

All contracts should include specific clauses that take into account issues unique to the project.

What are the four types of cost-reimbursable contracts? Briefly describe each type.

All procurement documents should be in _____ form in order to facilitate accurate and complete responses from prospective sellers.

The fee in a CPFF contract constantly varies even when the scope of a contract remains the same.

The contractual relationship is a legal relationship, which means it is subject to state and federal contract laws.

If an organization has no need to buy any products or services from outside the organization, then it has no need to perform any of the procurement management processes.

"Outsourcing to provide extra workers during periods of peak workloads can be much more economical than trying to fill entire projects with internal resources." Which of the following advantages does this characteristic of outsourcing provide organizations?

With a(n) _____ contract, the buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs.

Which of the following processes of project procurement management involves managing relationships with sellers, monitoring contract performance, and making changes as needed?

A(n) _____ type of e-procurement that Identifies new suppliers for a specific category of purchasing requirements using Internet technology.

A(n)_____ conference helps ensure that everyone has a clear, common understanding of the buyer's desired products or services.

Introduction to Project Management

The Project Management and Information Technology Context

The Project Management Process Groups: a Case Study

Project Integration Management

Project Scope Management

Project Time Management

Project Cost Management

Project Quality Management

Project Human Resource Management

Project Communications Management

Project Risk Management

Project Stakeholder Management

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