Question 1

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

Accepted Answer

A)  source selection 
B)  a bid 
C)  WBS 
D)  a change order

Question 2

In project procurement management, a main output of controlling procurements is a source selection criteria.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

The answer of  A(n) _____ type of e-procurement that sends...

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

A(n) _____ is a document used to solicit proposals from prospective suppliers.

Accepted Answer

A)  RFQ 
B)  WBS 
C)  RFP 
D)  SOW

Question 6

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

Accepted Answer

The answer of  _____ contracts are a hybrid of fixed-price...

Question 7

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

Accepted Answer

The answer of  A(n) _____ system provides the ability to...

Question 8

_____ contracts involve payment to the supplier for direct and indirect actual costs and often include fees.

Accepted Answer

A)  Firm-fixed-price 
B)  Lump sum 
C)  Cost-reimbursable 
D)  Fixed-price incentive fee

Question 9

Controlling procurement also involves _____, which is sometimes referred to as contract closure.

Accepted Answer

The answer of  Controlling procurement also involves _____, which is...

Question 10

In project procurement management, which process involves obtaining seller responses, selecting sellers, and awarding contracts?

Accepted Answer

A)  conducting procurements 
B)  closing procurements 
C)  settling contracts 
D)  planning procurement management

Question 11

In project procurement management, obtaining seller responses, selecting sellers, and awarding contracts is part of the _____ process.

Accepted Answer

A)  planning 
B)  conducting procurements 
C)  controlling 
D)  closing

Question 12

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

Accepted Answer

A)  planning 
B)  executing 
C)  monitoring and controlling 
D)  closing

Question 13

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

Accepted Answer

The answer of  _____ refers to the process of acquiring...

Question 14

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.

Accepted Answer

A) True 
 B)False

Question 15

The closing procurements process involves updating records to reflect final results and archiving information for future use.

Accepted Answer

A) True 
 B)False

Question 16

Reviewing performance records reduces the risk of selecting a supplier with a poor track record.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

A(n) _____ decision is one in which an organization decides if it is in its best interests to make certain products or perform certain services inside the organization, or if it is better to buy them from an outside organization.

Accepted Answer

The answer of  A(n) _____ decision is one in which...

Question 19

Outsourcing suppliers can often provide economies of scale, especially for hardware and software, that may not be available to the client alone. Which benefit does this offer an organization?

Accepted Answer

A)  reduction in costs 
B)  increased flexibility 
C)  increased accountability 
D)  access to specific skills

Question 20

A contract statement of work is a type of _____ statement that describes the work in sufficient detail to allow prospective suppliers to determine if they can provide the required goods and services and to determine an appropriate price.

Accepted Answer

The answer of  A contract statement of work is a...

Exam 12: Project Procurement Management

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

In project procurement management, a main output of controlling procurements is a source selection criteria.

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

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

A(n) _____ is a document used to solicit proposals from prospective suppliers.

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

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

_____ contracts involve payment to the supplier for direct and indirect actual costs and often include fees.

Controlling procurement also involves _____, which is sometimes referred to as contract closure.

In project procurement management, which process involves obtaining seller responses, selecting sellers, and awarding contracts?

In project procurement management, obtaining seller responses, selecting sellers, and awarding contracts is part of the _____ process.

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

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

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.

The closing procurements process involves updating records to reflect final results and archiving information for future use.

Reviewing performance records reduces the risk of selecting a supplier with a poor track record.

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

A(n) _____ decision is one in which an organization decides if it is in its best interests to make certain products or perform certain services inside the organization, or if it is better to buy them from an outside organization.

Outsourcing suppliers can often provide economies of scale, especially for hardware and software, that may not be available to the client alone. Which benefit does this offer an organization?

A contract statement of work is a type of _____ statement that describes the work in sufficient detail to allow prospective suppliers to determine if they can provide the required goods and services and to determine an appropriate price.