Question 1

Which of the following is an example of a large infrastructure project?

Accepted Answer

A)  Highways. 
B)  An office redecoration. 
C)  A roof repair. 
D)  Re-surfacing the car park. 
A)  Highways. 
B)  An office redecoration. 
C)  A roof repair. 
D)  Re-surfacing the car park.

Question 2

Which of the following best explains 'reimbursable time and materials contracts'?

Accepted Answer

A)  Contractor receives a fixed sum per annum. 
B)  Contractor receives a fixed sum per month. 
C)  Contractor receives a variable sum based on work completed. 
D)  Contractor receives a fixed sum per unit of work completed. 
A)  Contractor receives a fixed sum per annum. 
B)  Contractor receives a fixed sum per month. 
C)  Contractor receives a variable sum based on work completed. 
D)  Contractor receives a fixed sum per unit of work completed.

Question 3

Which of the following best explains a 'handing invoices procedure'?

Accepted Answer

A)  A procedure incorporating a two-way matching principle (order matches delivery document and delivery document matches with invoice). 
B)  A procedure incorporating a three-way matching principle (order matches delivery document, delivery document matches with invoice, invoice matches the order). 
C)  A procedure incorporating a two-way matching principle (delivery document matches with invoice and invoice matches the order). 
D)  A procedure incorporating a four-way matching principle (order matches delivery document, delivery document matches with invoice, invoice matches the order, invoice is paid). 
A)  A procedure incorporating a two-way matching principle (order matches delivery document and delivery document matches with invoice). 
B)  A procedure incorporating a three-way matching principle (order matches delivery document, delivery document matches with invoice, invoice matches the order). 
C)  A procedure incorporating a two-way matching principle (delivery document matches with invoice and invoice matches the order). 
D)  A procedure incorporating a four-way matching principle (order matches delivery document, delivery document matches with invoice, invoice matches the order, invoice is paid).

Question 4

Which of the following is a cause of 'agency problem'?

Accepted Answer

A)  Conflict of interest between buyer and seller due to conflicting goals. 
B)  Sub-contractors fail to meet project milestones. 
C)  Detailed project engineering and planning problems. 
D)  Sub-contractors failure to perform due to poor quality performance. 
A)  Conflict of interest between buyer and seller due to conflicting goals. 
B)  Sub-contractors fail to meet project milestones. 
C)  Detailed project engineering and planning problems. 
D)  Sub-contractors failure to perform due to poor quality performance.

Question 5

Which of the following best explains 'back-to-back agreements'?

Accepted Answer

A)  Key subcontractor contracts reflect all conditions of the main contract. 
B)  Key subcontractor secures rolling contract from purchaser. 
C)  Key subcontractor is awarded two contracts to run consecutively. 
D)  Key subcontractor is awarded two contracts to run concurrently. 
A)  Key subcontractor contracts reflect all conditions of the main contract. 
B)  Key subcontractor secures rolling contract from purchaser. 
C)  Key subcontractor is awarded two contracts to run consecutively. 
D)  Key subcontractor is awarded two contracts to run concurrently.

Question 6

Which of the following is an example of a large infrastructure project?

Accepted Answer

A)  Refurbishing the toilets. 
B)  Bridge construction. 
C)  A roof repair. 
D)  Re-surfacing the car park. 
A)  Refurbishing the toilets. 
B)  Bridge construction. 
C)  A roof repair. 
D)  Re-surfacing the car park.

Question 7

Which of the following best explains 'design and construct contract'?

Accepted Answer

A)  Contractor designs and provides in accordance with the client's requirements, plant and/or other works. 
B)  Contractor constructs the project in accordance with the design provided by the client. 
C)  Contractor delivers project or work turnkey. 
D)  Contractor completes work at own risk and gets paid long-term payments after delivery. 
A)  Contractor designs and provides in accordance with the client's requirements, plant and/or other works. 
B)  Contractor constructs the project in accordance with the design provided by the client. 
C)  Contractor delivers project or work turnkey. 
D)  Contractor completes work at own risk and gets paid long-term payments after delivery.

Question 8

Which of the following best explains 'performance guarantee'?

Accepted Answer

A)  Written guarantee from a third-party guarantor. 
B)  The contractor guarantees the actual output or outcome of the work to be delivered. 
C)  Holding company secures payment for agreed sum in case business unit fails to make payments. 
D)  Business unit guarantees to pay holding company. 
A)  Written guarantee from a third-party guarantor. 
B)  The contractor guarantees the actual output or outcome of the work to be delivered. 
C)  Holding company secures payment for agreed sum in case business unit fails to make payments. 
D)  Business unit guarantees to pay holding company.

Question 9

In the key elements of the contracting process which element comes before detailed project engineering and planning and after sending out the invitation to tender?

Accepted Answer

A)  Basic design and engineering. 
B)  Contract negotiation and closure. 
C)  Claims. 
D)  Testing and delivery. 
A)  Basic design and engineering. 
B)  Contract negotiation and closure. 
C)  Claims. 
D)  Testing and delivery.

Question 10

Which of the following best explains 'contract management'?

Accepted Answer

A)  Engaging in contractual relationships with one or more parties. 
B)  Asking for the services of another organisation. 
C)  Decreasing the size of the organization. 
D)  The process that ensures all parties to a contract fully meet their obligations. 
A)  Engaging in contractual relationships with one or more parties. 
B)  Asking for the services of another organisation. 
C)  Decreasing the size of the organization. 
D)  The process that ensures all parties to a contract fully meet their obligations.

Question 11

Which of the following best explains 'liquidated damages'?

Accepted Answer

A)  Written guarantee from a third-party guarantor. 
B)  The contractor guarantees the actual output or outcome of the work to be delivered. 
C)  Holding company secures payment for agreed sum in case business unit fails to make payments. 
D)  Sum that will be paid in case the contractor fails to deliver works according to the client's specifications. 
A)  Written guarantee from a third-party guarantor. 
B)  The contractor guarantees the actual output or outcome of the work to be delivered. 
C)  Holding company secures payment for agreed sum in case business unit fails to make payments. 
D)  Sum that will be paid in case the contractor fails to deliver works according to the client's specifications.

Question 12

Which of the following best explains 'network perspective'?

Accepted Answer

A)  Contracts are closed based on recognizing interests of key supply chain partners. 
B)  Contracts are open to any seller in the supply chain network. 
C)  Contracts are closed recognizing value network interdependencies. 
D)  Contracts are based on interests of seller only. 
A)  Contracts are closed based on recognizing interests of key supply chain partners. 
B)  Contracts are open to any seller in the supply chain network. 
C)  Contracts are closed recognizing value network interdependencies. 
D)  Contracts are based on interests of seller only.

Question 13

Which of the following best explains 'co-operative system'?

Accepted Answer

A)  Contractual relationship where parties pursue different objectives. 
B)  Contractual relationship where parties act rationally in the name of a common objective. 
C)  Contractual relationship where parties dispute the contract details. 
D)  Contractual relationship where one party fails to meet their contractual requirements. 
A)  Contractual relationship where parties pursue different objectives. 
B)  Contractual relationship where parties act rationally in the name of a common objective. 
C)  Contractual relationship where parties dispute the contract details. 
D)  Contractual relationship where one party fails to meet their contractual requirements.

Question 14

Which of the following is a dimension of contract management?

Accepted Answer

A)  Tendering. 
B)  Financial flow 
C)  Contracting 
D)  Evaluating. 
A)  Tendering. 
B)  Financial flow 
C)  Contracting 
D)  Evaluating.

Question 15

Which of the following best explains 'conflict of interest'?

Accepted Answer

A)  Buyer wants to pay as little as possible and seller charge as much as possible. 
B)  Buyer wants to pay as much as possible and the seller charge as little as possible. 
C)  Buyer wants the same things as the seller. 
D)  Seller wants the same things as the buyer. 
A)  Buyer wants to pay as little as possible and seller charge as much as possible. 
B)  Buyer wants to pay as much as possible and the seller charge as little as possible. 
C)  Buyer wants the same things as the seller. 
D)  Seller wants the same things as the buyer.

Question 16

Which of the following best explains 'dyadic perspective'?

Accepted Answer

A)  Contracts are closed based on interests of seller only. 
B)  Contracts are open to any seller. 
C)  Contracts are closed based upon interests of buyer and seller only. 
D)  Contracts are based on interests of buyer only. 
A)  Contracts are closed based on interests of seller only. 
B)  Contracts are open to any seller. 
C)  Contracts are closed based upon interests of buyer and seller only. 
D)  Contracts are based on interests of buyer only.

Question 17

In the key elements of the contracting process which element comes before contract negotiation and closure and after basic design and engineering?

Accepted Answer

A)  Sending out the invitation to tender. 
B)  Project execution. 
C)  Claims. 
D)  Testing and delivery. 
A)  Sending out the invitation to tender. 
B)  Project execution. 
C)  Claims. 
D)  Testing and delivery.

Question 18

Behaviour oriented contracts specify which of the following?

Accepted Answer

A)  How the contractor should deliver the work. 
B)  Why the contractor should deliver the work. 
C)  Where the contractor should deliver the work. 
D)  When the contractor should deliver the work. 
A)  How the contractor should deliver the work. 
B)  Why the contractor should deliver the work. 
C)  Where the contractor should deliver the work. 
D)  When the contractor should deliver the work.

Question 19

Which of the following best explains 'milestone payments'?

Accepted Answer

A)  Payments for wages and salaries of key managers and workers. 
B)  Payments made based on deliveries made for each project planning stage. 
C)  Monthly payments 
D)  Weekly payments. 
A)  Payments for wages and salaries of key managers and workers. 
B)  Payments made based on deliveries made for each project planning stage. 
C)  Monthly payments 
D)  Weekly payments.

Question 20

Which of the following best explains 'unit rate/charter contracts'?

Accepted Answer

A)  Contractor agrees to work based upon compensation of all actual costs incurred plus profit margin. 
B)  Contractor agrees to work based upon compensation of all actual cost. 
C)  Contractor agrees to work based on projected costs only. 
D)  Contractor agree to work based on outcome of further negotiations. 
A)  Contractor agrees to work based upon compensation of all actual costs incurred plus profit margin. 
B)  Contractor agrees to work based upon compensation of all actual cost. 
C)  Contractor agrees to work based on projected costs only. 
D)  Contractor agree to work based on outcome of further negotiations.

Which of the following is an example of a large infrastructure project?

Which of the following best explains 'reimbursable time and materials contracts'?

Which of the following best explains a 'handing invoices procedure'?

Which of the following is a cause of 'agency problem'?

Which of the following best explains 'back-to-back agreements'?

Which of the following is an example of a large infrastructure project?

Which of the following best explains 'design and construct contract'?

Which of the following best explains 'performance guarantee'?

In the key elements of the contracting process which element comes before detailed project engineering and planning and after sending out the invitation to tender?

Which of the following best explains 'contract management'?

Which of the following best explains 'liquidated damages'?

Which of the following best explains 'network perspective'?

Which of the following best explains 'co-operative system'?

Which of the following is a dimension of contract management?

Which of the following best explains 'conflict of interest'?

Which of the following best explains 'dyadic perspective'?

In the key elements of the contracting process which element comes before contract negotiation and closure and after basic design and engineering?

Behaviour oriented contracts specify which of the following?

Which of the following best explains 'milestone payments'?

Which of the following best explains 'unit rate/charter contracts'?

The Role of Purchasing in the Value Chain

Industrial Buying Behavior: Decision-Making in Purchasing

The Purchasing Management Process

Buying Business Services

Public Procurement

Purchasing and Business Strategy

Outsourcing and Risk Management

Category Sourcing: Developing Effective Sourcing Strategies

Purchasing Innovation and Quality Management

Purchasing Logistics and Supply Chain Management

Purchasing Organization

Performance Measurement and Governance in Purchasing

Cost Approaches and Techniques

Purchasing, Corporate Social Responsibility and Integrity

Filters

Exam 5: Contract Management for Complex Projects

Which of the following is an example of a large infrastructure project?

Which of the following best explains 'reimbursable time and materials contracts'?

Which of the following best explains a 'handing invoices procedure'?

Which of the following is a cause of 'agency problem'?

Which of the following best explains 'back-to-back agreements'?

Which of the following is an example of a large infrastructure project?

Which of the following best explains 'design and construct contract'?

Which of the following best explains 'performance guarantee'?

In the key elements of the contracting process which element comes before detailed project engineering and planning and after sending out the invitation to tender?

Which of the following best explains 'contract management'?

Which of the following best explains 'liquidated damages'?

Which of the following best explains 'network perspective'?

Which of the following best explains 'co-operative system'?

Which of the following is a dimension of contract management?

Which of the following best explains 'conflict of interest'?

Which of the following best explains 'dyadic perspective'?

In the key elements of the contracting process which element comes before contract negotiation and closure and after basic design and engineering?

Behaviour oriented contracts specify which of the following?

Which of the following best explains 'milestone payments'?

Which of the following best explains 'unit rate/charter contracts'?

The Role of Purchasing in the Value Chain

Industrial Buying Behavior: Decision-Making in Purchasing

The Purchasing Management Process

Buying Business Services

Public Procurement

Purchasing and Business Strategy

Outsourcing and Risk Management

Category Sourcing: Developing Effective Sourcing Strategies

Purchasing Innovation and Quality Management

Purchasing Logistics and Supply Chain Management

Purchasing Organization

Performance Measurement and Governance in Purchasing

Cost Approaches and Techniques

Purchasing, Corporate Social Responsibility and Integrity

Filters