PM - Procurement Management

10 Questions | Total Attempts: 1832

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PM - Procurement Management

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Questions and Answers
  • 1. 
    With which type of contract is the seller MOST concerned about project scope?
    • A. 

      Fixed price

    • B. 

      Cost plus fixed fee

    • C. 

      Time and material

    • D. 

      Purchase order

  • 2. 
    Which of the following activities occurs during Plan Procurements?
    • A. 

      Make-or-buy decisions

    • B. 

      Answering sellers' questions about the bid documents

    • C. 

      Advertising

    • D. 

      Proposal evaluation

  • 3. 
    You are executing a project for a client when they contact you to say they are terminating the contract for convenience. Because of this, the project is now in:
    • A. 

      Negotiation

    • B. 

      Execution

    • C. 

      Closure

    • D. 

      Procurement audit

  • 4. 
    Which of the following is the BEST thing for a project manager to do in the Conduct Procurements process of procurement management?
    • A. 

      Evaluate risks

    • B. 

      Select a contract type

    • C. 

      Update the project schedule

    • D. 

      Answer sellers' questions about procurement documents

  • 5. 
    What is the main purpose of the procurement audit?
    • A. 

      Validate that costs charged to the contract are valid and correct

    • B. 

      Loosely review the project

    • C. 

      Identify the successes to transfer to other procurements

    • D. 

      Acknowledge substantial completion

  • 6. 
    A team is in the Plan Procurements process.  Which of the following are they working on?
    • A. 

      Proposals received

    • B. 

      Procurement contract award

    • C. 

      Creation of a request for proposal

    • D. 

      Procurement audit

  • 7. 
    What is one of the KEY objectives during contract negotiations?
    • A. 

      Obtain a fair and reasonable price

    • B. 

      Negotiate a price under the seller's estimate

    • C. 

      Ensure that all project risks are thoroughly delineated

    • D. 

      Ensure that an effective communications management plan is established

  • 8. 
    An example of the contract price in a cost plus fixed fee (CPFF) contract is:
    • A. 

      $10,000 plus fee

    • B. 

      Costs, whatever they are, plus, $10,000 as fee

    • C. 

      $10,000

    • D. 

      $150 per hour

  • 9. 
    Source selection criteria are an output of which process?
    • A. 

      Plan quality

    • B. 

      Plan Risk Response

    • C. 

      Plan Procurements

    • D. 

      Estimate Costs

  • 10. 
    Close Procurements is different from Close Project or Phase in that Close Procurements:
    • A. 

      Occurs before Close Project or Phase

    • B. 

      Is the only one to involve the customer

    • C. 

      Includes the return of property

    • D. 

      May be done more than once for each contract

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