Exam 12: Project Supply Chain Management

A description of the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products,services or results is known as:

All of the following statements accurately describe supply chain management EXCEPT:

Evaluations of prospective suppliers by project teams often involve which of the following approaches?

Supply chains use a combination of modes of transportation including: air,rail,water,pipeline and trucks.

Which of the following types of contracts involves payment to the seller for the seller's actual costs plus a fee typically representing the seller's profit?

In many cases,the proposal prepared by the vendor actually becomes a part of the final contract.

Effective project partnerships generally require shared responsibilities,shared resources,shared information,shared rights and shared risks between suppliers and customers.

Often a project team will start the selection process by establishing a list of potential suppliers. All of the following information sources are frequently used to identify these potential suppliers EXCEPT:

Which of the following contract types is most appropriate when costs are NOT well known and the buyer absorbs the cost risk?

Outputs of Plan Procurements include procurement documents and evaluation criteria that define how the client company will evaluate and rank proposals received from bidders.

One of the important factors that should influence the selection of contract type is the degree of risk to be assumed by both the seller and the buyer.

Supply chain operations require managerial processes that span across functional areas within individual organizations.

Sometimes firms develop a qualified sellers list and only allow those companies on the list to submit a proposal on the upcoming project.

All of the following are performance improvements likely to be realized by projects that make good project sourcing decisions EXCEPT:

Partnering seeks to recast relations between actors in projects by promoting the use of collaborative,more open relationships.

Contract types are often associated with two broad categories: fixed-price contracts and cost-reimbursable contracts. Briefly identify the factors to consider when determining which type is most appropriate for a planned contract.

Information is a key ingredient at each stage of the project supply chain,as well as within each phase of supply chain decision making.

Project partnerships offer all of the following advantages to vendors EXCEPT:

The procurement management plan:

Traditional project procurement was characterized by a win-lose attitude,whereas contemporary project partnering fosters an equal partner attitude.