PM - Procurement Management

10 Questions | By Elizabethrb | Last updated: Mar 22, 2022 | Total Attempts: 2342

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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