Exam 12: Project Procurement Management

In procurement management, evaluation of any change should include a(n) _____ analysis.

Contents of the procurement management plan vary with project needs.

The process of choosing suppliers or sellers is known as _____.

What are some of the advantages that outsourcing offers which is encouraging many companies to adopt it?

A key factor in evaluating bids, particularly for projects involving information technology, is the past performance record of the bidder.

The procurement statements of work are an output of the _____ process of project procurement management.

A(n) _____ contract includes a special provision for predefined final adjustments to the contract price due to changes in conditions such as inflation.

A(n) _____ system provides the ability to easily organize, find, and archive procurement-related documents.

In project procurement management, which of the following processes involve completion and settlement of each contract, including resolution of any open items?

A(n) _____ is a contract clause that allows the buyer or supplier to end the contract.

If an organization has no need to buy any products or services from outside the organization, then it has no need to perform any of the procurement management processes.

Suppliers are those organizations or individuals who provide procurement services.

Project procurement management consists primarily of two processes: assessing procurements and controlling procurements.

All procurement documents should be in _____ form in order to facilitate accurate and complete responses from prospective sellers.

If an SOW is used as part of a contract to describe only the work required for that particular contract, it is called a(n) _____.

All contracts should include specific clauses that take into account issues unique to the project.

Three types of cost-reimbursable contracts include cost plus incentive fee, cost plus fixed fee, and _____.

A(n) _____ type of e-procurement that sends requests for information and prices to suppliers and receives the response of suppliers using Internet technology.

Which of the following is an output of the contract closure process?

In which of the following contracts does the buyer pay the supplier for allowable performance costs along with a predetermined percentage based on total costs?