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PROJ 410 Contract and Procurement Week 4 Mid Term Exam All Questions answers

PROJ 410 Contract and Procurement_Week 4_Mid Term Exam_All Questions_answers_A+_Detailed Out

PROJ 410 Contract and Procurement_Week 4_Mid Term Exam_All Questions_answers

Week 4 : Selecting the Supplier – Midterm
Page 1

1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. (Points : 5)
overhead, core
core, non-core
non-core, overhead
non-core, core

2. (TCO 5) To assess the impact of a contract on both the buyer and seller, an analysis of exposure can be completed. Categories analyzed in this exposure analysis include all of the following except: ______. (Points : 5)
terms with no quantifiable impact
key contract terms
significant contract terms
informational terms from the RFP

3. (TCO 7) For most customers, requesting multiple bids is the preferred approach because it: _______. (Points : 5)
adds to the project legitimacy
may lead to competitive pricing or service levels
enables the customer to use the possibility of other interested vendors as a negotiating tool
all of the above

4. (TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______. (Points : 5)
key terms to the Contract Pricing Options
key terms in a Cost Proposal
key terms in a Request for Information
key terms in the BPO Agreement

5. (TCO 3) What activities is the contract administrator responsible for in a contract situation? What about the project manager? (Points : 12)

6. (TCO 4) What is the difference between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF) contract structures? (Points : 12)

7. (TCO 6) List three commonly used evaluation criteria listed in an RFP and explain why a buyer would want this information before selecting a seller. (Points : 12)

8. (TCO 8) What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller? (Points : 12)

9. (TCO 7) Describe the common sections of the RFP. (Points : 12)

Week 4 : Selecting the Supplier – Midterm

Page 2

1. (TCO 2) Part 1: List and define the six phases of the project procurement management process. Part 2: How could you organize a simple project such as renovating a bathroom into the six steps in the project procurement management process? Part 3: The buyer determines the contract pricing structure during which step of the project procurement process? (Points : 30)

2. (TCO 1) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)

3. (TCO 3) Evaluate the most common business drivers for outsourcing business processes. Which two drivers would be among the most important? (Points : 30)

4. (TCO 1) List and describe the directives to consider the process of outsourcing if you are a senior manager. (Points : 30)

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