PROJ 598 Week 8 Final Exam Solution

WEEK 8: FINAL EXAM

Question 15 pts

(TCO A) All the below are outputs of plan procurement except

Question 25 pts

(TCO B) With proper seller selection being vital to the success of a project, all of the below would be considered good selection criteria for a buyer to use to select a seller, except

Question 3 8 pts

(TCO A) Why are the project scope statement and WBS inputs of plan procurement?

Question 412 pts

(TCO B) A seller’s financial capacity is often one of the buyer’s selection criteria. Why is this an important consideration for a buyer?

Question 512 pts

(TCO C) Which has more cost risk to the seller, a fixed-price contract or a cost-reimbursable contract? Why? How might that risk be mitigated?

Question 612 pts

(TCO D) Compare and contrast sole-source and single-source approaches to procurement.

Question 712 pts

(TCO E) You are writing a procurement SOW for an RFP. What items are you likely to include in this SOW?

Question 812 pts

(TCO F) You are the project manager on an upcoming project. You and the contract administrator are preparing for contract negotiations with two potential sellers. Why is determining who has authority an important activity in conducting a negotiation?

Question 912 pts

(TCO G) One of the inputs to contract closeout is completion of work. What does it mean?

Question 1020 pts

(TCO A) Describe and explain the four processes in the procurement management process from the buyer perspective, as shown in the PMBOK® Guide.

Question 1120 pts

(TCO B) You are a project manager at a bidder’s meeting. One of the potential sellers asks you a question concerning the project in the hallway leading to the meeting room. Can you answer this question for the seller? What would be your concern if you did answer the question?

Question 1220 pts

(TCO C) Given the following, answer the below questions.

Question 1320 pts

(TCO D) Compare and contrast an RFP and an RFI. When would each best be used in procuring goods or services?

Question 1420 pts

(TCO E) Describe the buyer’s plan procurement process of the contract management process as it relates to creating an RPF. Give an example of the activity that takes place in each step.

Question 1520 pts

(TCO F) “The side that does the most research and planning will often come out best in any negotiation.” Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information.

Question 1620 pts

(TCO G) Often in the procurement closeout process, a procurement audit is done. What is a procurement audit, and what is the purpose of a procurement audit?

Question 1720 pts

(TCO H) Under U.S. and international law, all contracts must contain five elements or satisfy five requirements. List and explain each of these five elements.