Project Procurement Management Assignment Example | Topics and Well Written Essays - 1750 words

Project Procurement Management - Assignment Example Which contract type should be used by ABC Consulting? A. Purchase Order B. Cost plus Fee C. Fixed cost D. Time and Material 3. Joe’s Plumbing Ltd. is planning to buy ten business grade laptops for $1,500 each from a leading computer supplier. Which type of contract will generally be used in this case? A. Purchase Order B. Cost plus Fee C. Fixed cost D. Time and Material 4. A bookstore is getting 200 computers and a POS system installed from a vendor. The vendor will be paid the costs involved and a 10% incentive. Which contract will be used in this case? A. CPPC B. CPIF C. CPFF D. Fixed Cost 5. Sophie is a Project Manager. She is coordinating a bidder conference to allow vendors to get clarification on the work that needs to be performed. Which phase of Project Management is in progress? A. Conduct Procurements B. Plan Procurements C. Administer Procurements D. Close Procurements 6. A significant difference between independent estimates and proposed pricing from respondents to an RFP could mean that: A. The independent estimates are most likely incorrect and the proposed pricing correct B. The SOW was not adequately defined C. The prospective seller either misunderstood or failed to respond fully to the SOW D. b or c E. a or c 7. Which of the following are examples of indirect costs? A. Salaries of corporate executives B. Salaries of full-time project staff C. Overhead costs (such as building rent and office equipment) D. a and b E. a and c 8. Which of the following contract types places the greatest risk on the seller? A. Cost-plus-fixed-fee contract B. Cost plus-incentive-fee contract C. Time and Materials contract D. Fixed-price-incentive contract E. Firm-fixed-price contract 9. Which is not an element of procurement management? A. Purchasing B. Expediting C. Acquisition D. Marketing E. C and D 10. Requesting the submission of proposals from sellers to perform work is the avenue for acquiring most projects. The proposals, when submitted, must contain specific items to obligate or bind the tendering organization. The most important item is? A. A complete description of the work to be performed B. The list of legal terms and conditions C. The signature of a corporate officer of the seller D. A statement of work that describes how the work will be accomplished E. A firm price for the complete work to be performed 11. _____ is a formal invitation to submit a price for goods and / or services as specified. A. Bid response B. Request for quotation C. Intention to bid D. Invitation for bid E. Request for proposal 12. Payment bonds are often required by the contract and require specific actions under the stated conditions. Payment bonds are specifically designed to ensure payment of ______ by the prime contractor. A. Insurance premiums B. Weekly payrolls C. Incremental earned value charges D. Subcontractors, laborers, and materials E. Damages for accidents caused 13. Some contracts are not completed because the contractor or vendor fail s or refuses to complete the contractual conditions of a signed agreement. This situation is called a______ for which damages can be assigned. A. Breach B. Stop-work C. Flawed contract D. Contract in situ E. None of the above 14. The project manager is responsible for all the activities within a project and interfaces with external functions, all of which consume his time. Therefore, when a contract administrator is assigned to the project, the project manager ________ the contract. A. Does not need to