Exam 12: Project Procurement Management

_____ management includes the processes required to acquire goods and services for a project from outside the performing organization.

What are the four main capabilities of procure-to-pay suites for indirect procurements? What type(s) of organizations are they suitable for?

_____ refers to the process of acquiring goods and/or services from an outside source.

The contractual relationship is a legal relationship, which means it is subject to state and federal contract laws.

The fee in a CPFF contract constantly varies even when the scope of a contract remains the same.

Risk registers and stakeholder registers are outputs of the planning procurement process.

Make-or-buy analysis involves comparing the internal costs of providing a product with the cost of outsourcing.

_____ are oral or written acts or omissions by someone with actual or apparent authority that can be construed to have the same effect as a written change order.

A company is considering whether to purchase or lease a piece of equipment for an upcoming project. The cost to purchase is $10,000 plus $100 per day to operate or $500 per day to lease (including operating costs). If the company anticipates using the equipment for a total of 20 days, they will be indifferent as to whether or lease or purchase it.

How are RFPs different from RFQs? What are some of the requirements of writing an RFP?

Which of the following processes of project procurement management involves managing relationships with sellers, monitoring contract performance, and making changes as needed?

A(n)_____ conference helps ensure that everyone has a clear, common understanding of the buyer's desired products or services.

A(n) _____ is also known as a tender or quote, short for quotation.

Tools used in contract closure include procurement audits, _____, and a records management system.

A single contract can include all three categories of contracts.

How is a statement of work (SOW) different from a contract statement of work? What are some of the requirements for creating a contract SOW?

_____ contracts are a hybrid of fixed-price and cost-reimbursable contracts.

In unit pricing, the total value of the contract is a function of the quantities needed to complete the work.

In project procurement management, an output of the _____ monitoring and controlling process.

Outputs of the _____ process consist of selected sellers and resource calendars.