Part 10 - Project Procurement

Question 1

1. What does the project manager do when requesting seller responses?

A. The project manager plans purchases.

B. The project manager solicits quotations.

C. The project manager selects a seller.

D. The project manager evaluates project progress.

Answer 1

1.

Correct Answer: B

Question 2

2. Which allows potential sellers to ask questions about the project and its requirements?

A. Advertised bids

B. Bidder conference

C. Sellers conference

D. Annual meeting

Answer 2

2.

Correct Answer: B

Question 3

3. Which is included on a qualified sellers’ list?

A. Sellers’ names

B. Procurement documents

C. Proposals

D. Advertised bids

Answer 3

3.

Correct Answer: A

Question 4

4. Which provides a pass or fail mechanism for criteria critical to project success?

A. Weighted scorecard

B. Expert judgment

C. Seller rating system

D. Screening system

Answer 4

4.

Correct Answer: D

Question 5

5. Which document sent to prospective sellers provides information regarding the requirement specifications and needs of your project?

A. Procurement management plan

B. Project documents

C. Procurement document

D. Request for information

6. Which is a legal contractual agreement

Answer 5

5.

Correct Answer: C

Question 6

6. Which is a legal contractual agreement signed between the organization and an external entity to form a partnership in a buyer-seller arrangement between them?

A. Procurement contract

B. Teaming agreement

C. Seller proposal

D. Purchase order

Answer 6

6.

Correct Answer: B

Question 7

7. Which are tools and techniques for the conduct procurement process?

A. Bidder conferences, SWOT analysis, independent estimates, expert judgment.

B. Procurement negotiations, advertising, contingent response strategies, proposal evaluation techniques.

C. Independent estimates, make-or-buy decisions, qualified seller lists, source selection criteria.

D. Bidder conferences, independent estimates, expert judgment, procurement negotiations.

Answer 7

7.

Correct Answer: D

Question 8

8. Which are outputs of the conduct procurement process?

A. Procurement contract award

B. Qualified seller list

C. Resource calendars

D. Selected sellers

Answer 8

8.

Correct Answer(s):   
 A

C

D

Question 9

9. True or False? A procurement contract is a mutually binding agreement that details the obligations of only the seller.

A. True

B. False

Answer 9

9.

Correct Answer: B

Question 10

FFP

Answer 10

Firm fixed price contracts

Question 10

10. Which output of the conduct procurement process lists the quantity, availability, and utilization of project resources?

A. Project management plan

B. Procurement contract

C. Resource calendar

D. Seller proposal

Answer 10

10.

Correct Answer: C

Question 11

FPIF

Answer 11

Fixed price incentive fee contracts

Question 12

FP-EPA

Answer 12

Fixed price with economic price adjustment contracts

Question 13

CPFF

Answer 13

Cost plus fixed fee contracts

Question 14

CPIF

Answer 14

Cost plus incentive fee contracts

Question 15

CPAF

Answer 15

Cost plus award fee contracts

Question 16

T&M

Answer 16

Time & Materials Contracts

Question 17

RFI

Answer 17

Request for information (in procurement documents)

Question 18

IFB

Answer 18

Invitation for bid (in procurement documents)

Question 19

RFP

Answer 19

Request for proposal (in procurement documents)

Question 20

RFQ

Answer 20

Request for quotation (in procurement documents)

Question 21

ADR

Answer 21

Alternative dispute resolution