Exam 12: Project Procurement Management and Contracting

In which of the following kinds of contracts is the actual, final cost of the project unknown until after the project is completed (circle all that apply):

Statement: Usually, obligations in subcontracts exist solely between the customer and subcontractors.

Statement: The "make or buy" decision can pertain to virtually everything to be done in the project

Sole-sourcing means:

Single-sourcing means

Procurement management refers to management of (circle all that apply)

Which of the following contracts is most risky to the contractor?

The proposal/negotiation/solicitation method is more appropriate for

Ordinarily, the...

In a Fixed Price Incentive Fee Contract (FPIF)

"Procured items" include which of the following (circle all that apply)

Multiple sourcing means

Procurement management addresses everything associated with (circle all that apply)

Contract administration is responsible for

With a Firm Fixed Price Contract (FFP)

Which of the following contracts is most risky to the customer?

The purpose of contract negotiation is to (circle all that apply):

Procurement management can involve which if the following (circle all that apply)

During the negotiation process, the project manager

Statement: With a Cost Plus Incentive Fee (CPIF) the incentive is on meeting a target due date