Exam 12: Project Procurement Management

What are the three types of cost-reimbursable contracts? Briefly describe each type.

"Outsourcing to provide extra staff during periods of peak workloads can be much more economical than trying to staff entire projects with internal resources." refers to the ____ benefit.

The total value of the contract is a function of the quantities needed to complete the work.

A(n)____ is a document used to solicit quotes or bids from prospective suppliers.

Outputs of the ____ process include selected sellers,procurement contract awards,resource calendars,change requests,and updates to the project management plan and other project documents.

Many organizations use ____ and templates to generate SOWs.

For many projects,properly ____ some information technology functions can be a great investment.

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

Few organizations use some form of outsourcing to meet their information technology needs.

It is always less effective to hire skilled consultants to perform specific tasks for a short period of time than to hire or keep employees on staff full time.

Many organizations use samples and ____________________ to generate SOWs.

Experts in source selection recommend that technical criteria should be given more weight than management or cost criteria.

A(n)____________________ is a document prepared by sellers providing pricing for standard items that have been clearly defined by the buyer.

"Organizations can gain access to specific skills and technologies when they are required by using outside resources." refers to the ____ benefit of outsourcing.

The buyer absorbs less of the risk with cost-reimbursable contracts than they do with fixed-price contracts.