Quiz Planning-Procurement

The products or services acquired through a seller under a contract must meet the needs of the project and comply with the business policies of the buyer. Who is responsible for ensuring this compliance?

A project manager working on a project is identifying which project deliverables could be achieved from procurement through sellers. This project manager is in the ___________ process.

A project manager has many types of contracts to consider when deciding which will be most suitable for the type of work to be done. Which of the following is not a type of contract?

Your company would like to utilize a decentralized purchasing process. Which of the following would best describe a project manager’s responsibilities in such an environment?

Which type of contract is most commonly preferred by buyers, as it establishes a clear cost for goods or services at the outset of the contract that is not subject to change unless the scope of the work is modified?

Which of the following examples represents the buyer’s obligation in a fixed price incentive fee (FPIF) contract?

An organization is currently executing multiple projects under a program. From past experiences, senior stakeholders know that due to the integrated nature of these projects, contractual changes in one project most certainly will affect another project in the program. Which of the following strategies would be best suited to deal with such situations?

A project kick-off meeting is being held. The agenda starts with the presentation of the strategic objectives of the project. Which individual should present this piece of information?

Which contract type provides the buyer and seller flexibility in that it allows deviation from performance, establishes a bonus structure contingent on achieving predefined metric performance levels, and defines a ceiling price over which any additional costs become the responsibility of the performing organization?

Your company is bidding on a multimillion-dollar contract to build parts for an aircraft. Under which of the following contractual agreement types does your company experience the greatest risk of cost exposure?