Question 1

Describe the Project Management Body of Knowledge PMBOK)area called Project Procurement Management.

Accepted Answer

According to PMBOK,project procurement management is the contract management and change control processes required to administer contracts or purchase orders issued by authorized team members.It also includes the administration of any contract issued by an outside organization the buyer)that is acquiring the project from the performing organization the seller),and administering contractual obligations placed on the project team by the contract.

Question 2

Describe how a fixed-price or lump-sum contract works.Give an example.

Accepted Answer

A total or fixed price is negotiated or set as the final price for a specific product or service.They may include incentives for meeting certain objectives or penalties if those objectives are not met.Example: Payment of $1,000 to develop a Web site for an organization.

Question 3

Which of the following is NOT a common outsourcing mistake?

Accepted Answer

A) Outsourcing activities that should not be outsourced 
B) Selecting the wrong vendor 
C) Writing a poor contract 
D) Overlooking personnel issues 
E) All of the above are common outsourcing mistakes 
A) Outsourcing activities that should not be outsourced 
B) Selecting the wrong vendor 
C) Writing a poor contract 
D) Overlooking personnel issues 
E) All of the above are common outsourcing mistakes E

Question 4

What is outsourcing? How does it related to Project Procurement Management?

Accepted Answer

Outsourcing can be defined as the procur

Question 5

Monitoring contract performance and making changes or taking corrective actions when needed refers to which of the following Project Procurement Management processes?

Accepted Answer

A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Close Procurements 
E) Plan Exit Strategy 
A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Close Procurements 
E) Plan Exit Strategy

Question 6

Why are personnel issues important when an organization or project manager is considering the outsourcing of activities?

Accepted Answer

Decisions to outsource or even rumors ca

Question 7

Which of the following is NOT one of the Project Procurement Management processes outlined in the PMBOK Guide?

Accepted Answer

A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Plan Exit Strategy 
E) Close Procurements 
A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Plan Exit Strategy 
E) Close Procurements

Question 8

Performing due diligence to evaluate the financial strength of the vendor as a going concern helps protect against _____.

Accepted Answer

A) Outsourcing activities that should not be outsourced 
B) Selecting the wrong vendor 
C) Writing a poor contract 
D) Overlooking personnel issues 
E) All of the above are common outsourcing mistakes 
A) Outsourcing activities that should not be outsourced 
B) Selecting the wrong vendor 
C) Writing a poor contract 
D) Overlooking personnel issues 
E) All of the above are common outsourcing mistakes

Question 9

Organizations contemplating an outsourcing decision should keep things quiet until the last minute in order to shield its employees from undue stress.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following approaches provides flexibility to choose which project processes and deliverables should be from external sources and which should be internal to the organization?

Accepted Answer

A) Business process outsourcing 
B) Full-Insourcing 
C) Full-Outsourcing 
D) Offshoring 
E) Selective Outsourcing 
A) Business process outsourcing 
B) Full-Insourcing 
C) Full-Outsourcing 
D) Offshoring 
E) Selective Outsourcing

Question 11

Negotiating,selecting,and contracting with a seller for a particular product of service refers to which of the following Project Procurement Management processes?

Accepted Answer

A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Close Procurements 
E) Plan Exit Strategy 
A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Close Procurements 
E) Plan Exit Strategy

Question 12

Selective outsourcing provides flexibility to choose which project processes or deliverables should be outsourced and which should be kept internal.

Accepted Answer

A) True 
 B)False

Question 13

A well-written contract should be precise,complete,balanced,and flexible.

Accepted Answer

A) True 
 B)False

Question 14

Managing the relationship and contract between the buyer and seller is part of _____.

Accepted Answer

A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Close Procurements 
E) Plan Exit Strategy 
A) Plan Procurements 
B) Conduct Procurements 
C) Administer Procurements 
D) Close Procurements 
E) Plan Exit Strategy

Question 15

What is meant by full in-sourcing?

Accepted Answer

All products and ser

Question 16

Not establishing an appropriate balance of power between the client and vendor is an example of the following common outsourcing mistake.

Accepted Answer

A) Outsourcing activities that should not be outsourced 
B) Selecting the wrong vendor 
C) Writing a poor contract 
D) Overlooking personnel issues 
E) All of the above are common outsourcing mistakes 
A) Outsourcing activities that should not be outsourced 
B) Selecting the wrong vendor 
C) Writing a poor contract 
D) Overlooking personnel issues 
E) All of the above are common outsourcing mistakes

Question 17

What is the purpose of a contract?

Accepted Answer

A contract is a document signe

Question 18

The decision whether to purchase or outsource specific project needs is similar to "make or buy" decision that compares the total direct and indirect costs of "making" a particular product or performing a particular service internally to the total direct and indirect costs of "buying" or contracting internally.

Accepted Answer

A) True 
 B)False

Question 19

A large number of organizations have had negative experiences with outsourced projects and are now starting to bring projects back in-house.

Accepted Answer

A) True 
 B)False

Question 20

A Web site developer negotiates a contract to develop a Web site for $2,000.This would be an example of a Fixed-Price/Lump-Sum contract

Accepted Answer

A) True 
 B)False

Describe the Project Management Body of Knowledge PMBOK)area called Project Procurement Management.

Describe how a fixed-price or lump-sum contract works.Give an example.

Which of the following is NOT a common outsourcing mistake?

What is outsourcing? How does it related to Project Procurement Management?

Monitoring contract performance and making changes or taking corrective actions when needed refers to which of the following Project Procurement Management processes?

Why are personnel issues important when an organization or project manager is considering the outsourcing of activities?

Which of the following is NOT one of the Project Procurement Management processes outlined in the PMBOK Guide?

Performing due diligence to evaluate the financial strength of the vendor as a going concern helps protect against _____.

Organizations contemplating an outsourcing decision should keep things quiet until the last minute in order to shield its employees from undue stress.

Which of the following approaches provides flexibility to choose which project processes and deliverables should be from external sources and which should be internal to the organization?

Negotiating,selecting,and contracting with a seller for a particular product of service refers to which of the following Project Procurement Management processes?

Selective outsourcing provides flexibility to choose which project processes or deliverables should be outsourced and which should be kept internal.

A well-written contract should be precise,complete,balanced,and flexible.

Managing the relationship and contract between the buyer and seller is part of _____.

What is meant by full in-sourcing?

Not establishing an appropriate balance of power between the client and vendor is an example of the following common outsourcing mistake.

What is the purpose of a contract?

A large number of organizations have had negative experiences with outsourced projects and are now starting to bring projects back in-house.

A Web site developer negotiates a contract to develop a Web site for $2,000.This would be an example of a Fixed-Price/Lump-Sum contract

The Nature of Information Technology Projects

Initializing and Conceptualizing the IT Project

The Project Infrastructure

The Human Side of Project Management

Defining and Managing Project and Product Scope

The Work Breakdown Structure and Project Estimation

The Project Schedule and Budget

Managing Project Risk

Project Communication,tracking,and Reporting

It Project Quality Management

Managing Organizational Change, resistance, and Conflict

Leadership and Ethics

Project Implementation, closure, and Evaluation

Filters

Exam 12: Project Procurement Management and Outsourcing

Describe the Project Management Body of Knowledge PMBOK)area called Project Procurement Management.

Describe how a fixed-price or lump-sum contract works.Give an example.

Which of the following is NOT a common outsourcing mistake?

What is outsourcing? How does it related to Project Procurement Management?

Monitoring contract performance and making changes or taking corrective actions when needed refers to which of the following Project Procurement Management processes?

Why are personnel issues important when an organization or project manager is considering the outsourcing of activities?

Which of the following is NOT one of the Project Procurement Management processes outlined in the PMBOK Guide?

Performing due diligence to evaluate the financial strength of the vendor as a going concern helps protect against _____.

Organizations contemplating an outsourcing decision should keep things quiet until the last minute in order to shield its employees from undue stress.

Which of the following approaches provides flexibility to choose which project processes and deliverables should be from external sources and which should be internal to the organization?

Negotiating,selecting,and contracting with a seller for a particular product of service refers to which of the following Project Procurement Management processes?

Selective outsourcing provides flexibility to choose which project processes or deliverables should be outsourced and which should be kept internal.

A well-written contract should be precise,complete,balanced,and flexible.

Managing the relationship and contract between the buyer and seller is part of _____.

What is meant by full in-sourcing?

Not establishing an appropriate balance of power between the client and vendor is an example of the following common outsourcing mistake.

What is the purpose of a contract?

A large number of organizations have had negative experiences with outsourced projects and are now starting to bring projects back in-house.

A Web site developer negotiates a contract to develop a Web site for $2,000.This would be an example of a Fixed-Price/Lump-Sum contract

The Nature of Information Technology Projects

Initializing and Conceptualizing the IT Project

The Project Infrastructure

The Human Side of Project Management

Defining and Managing Project and Product Scope

The Work Breakdown Structure and Project Estimation

The Project Schedule and Budget

Managing Project Risk

Project Communication,tracking,and Reporting

It Project Quality Management

Managing Organizational Change, resistance, and Conflict

Leadership and Ethics

Project Implementation, closure, and Evaluation

Filters