PM 598 Final Exam (SOLVED)

PM 598 Final Exam (SOLVED)

(TCO A) All the below are tools and techniques of conduct procurement, except (Points : 5)

(TCO A) All the below are tools and techniques of control procurement, except (Points : 5)

(TCO B) Proper selection criteria are critical for a successful project. All of the below would be considered good selection criteria for a buyer to use to select a seller, except (Points : 5)

(TCO A) Why are the project schedule and the project budget inputs of plan procurement? (Points : 8)

TCO B) You are creating your SOW for inclusion into the RFP. You wish to include both qualitative and quantitative evaluation criteria in the RFP. Describe qualitative versus quantitative evaluation criteria. (Points : 12)

(TCO C) Awards and incentives are commonly used in contracts. Are these simply just two different way of saying the same thing, or are awards and inventive contracts different? (Points : 12)

(TCO C) From the viewpoint of the buyer, why are award fees and incentive fees important in contracts? (Points : 12)

(TCO D) Compare and contrast sole source and single source approaches to procurement. (Points : 12)

(TCO D) Describe the typical work relationship between a project manager and a contract manager. (Points : 12)

 (TCO E) What is the purpose of creating a procurement SOW for an RFP? (Points : 12)

(TCO E) You are writing a procurement SOW for an RFP. What items are you likely to include in this SOW? (Points : 12)

(TCO F) You are preparing for contract negotiations. To achieve your desired contract negotiation results, you need not only a strategy but also tactics and countertactics. Give an example of two tactics, and state why they help you achieve the desired result. (Points : 12)

(TCO F) You are the project manager on an upcoming project. You and the contract administrator are preparing for contract negotiations with two potential sellers. Why is determining who has authority an important activity in conducting a negotiation? (Points : 12)

(TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe the reality of actual global contracts. (Points : 12)

 (TCO G) What are the five ways that a contract can end? Please provide an example of each. (Points : 12)

(TCO A) Describe and explain the four processes in the procurement management process from the buyer perspective, as shown in the PMBOK® Guide. (Points : 20)

(TCO B) You are a project manager at a bidder's meeting. One of the potential sellers asks you a question concerning the project in the hallway leading to the meeting room. Can you answer this question for the seller? What would be your concern if you did answer the question? (Points : 20)

(TCO B) What are the unique differences between cost plus incentive fee contracts and fixed price incentive contracts? (Points: 20)

(TCO C) Fixed-price, cost-reimbursable, and time and material contracts are all potential agreements that could be reached between organizations. Describe each type of contract, and explain the range of risk for each of these types of contracts. (Points : 20)

(TCO D) Compare and contrast an RFP and an IFB. When would each best be used in procuring goods or services?(Points : 20)

(TCO D) You are reviewing procurement models and you notice that there are three types of procurement statements of work. What are the three types of procurement statements of work? When is each appropriate for a given contract? (Points : 20)

(TCO E) You have been assigned to do a make-or-buy analysis. What factors will you likely include in your make-or-buy evaluation? (Points : 20)

(TCO E) Describe the buyer's plan procurement process of the contract management process as it relates to creating a RPF. Give an example of the activity that takes place in each step. (Points : 20)

(TCO G) Often in the procurement closeout process, a procurement audit is done. What is a procurement audit, and what is the purpose of a procurement audit? (Points : 20)

(TCO G) Describe and compare and contrast the buyer's and seller's actions in the control procurement phase of the contract management process. Give an example for each. (Points : 20)

(TCO F) "The side that does the most research and planning will often come out best in any negotiation." Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information. (Points : 20

(TCO F) Describe a memorandum of understanding and letter of intent. (Points : 20)

(TCO H) What does the uniform commercial code (UCC) state regarding price and warranty? What if a price is not specified in an agreement? What if a price is specified in an agreement? Does the UCC modify the price? What about a warranty? What rights does the buyer have for a guarantee under the UCC? What protection is granted to the seller? (Points : 20)

(TCO H) Under U.S. and international law, all contracts must contain five elements or satisfy five requirements. List and explain each of these five elements. (Points : 20)

(TCO G) One of the inputs to contract closeout is completion of work, what does it mean? (Points : 16)

(TCO D) Describe and explain simplified non-competitive approach to contracting. Describe and explain formal competitive approach to contracting. Compare and contrast these two types of approaches to contracting. (Points: 16)

(TCO A) Discuss and explain the purpose of an integrated supply chain. Why is it important? What impact does e-commerce have on an integrated supply chain? What impact does the Internet have on an integrated supply chain? (Points: 18)

(TCO B) Describe the seller's pre-award stage of the contract management process. Give an example of the activity that takes place in each step. (Points: 16)

(TCO E) Describe the role of law in contracts. 
A - Explain the role of the contract.
B - Explain the role of common law.
C - Explain the role of civil law.
D - Explain the role of the Uniform Commercial Code (UCC).(Points: 16)

(TCO C) Why are award fees and incentive fees important to government contractors? (Points: 16)

(TCO F) Why is determining who has authority an important activity in conducting a negotiation? (Points: 16)

(TCO G) What are the three ways that a contract can end? (Points: 16)

(TCO H) Why are the documented lessons learned important for the organization? (Points: 16)

(TCO A) Business professionals who manage contracts must be aware of the many types of contracting pricing arrangements available in order to choose the best type for each situation. What are the three general pricing categories? Explain each category and include an example of each. (Points: 20)

(TCO C) Describe qualitative vs. quantitative evaluation criteria.  (Points: 20)

(TCO D) Identify and explain the five essential elements of performance-based contracts (PBC). (Points: 20)

(TCO E) Name at least five critical supply chain challenges facing U.S. government prime contractors. (Points: 20)

(TCO F) Describe a memorandum of understanding and letter of intent. (Points: 20)

(TCO G) Summarize the five main sources of contracting risk, and briefly discuss how contracting is like exchanging one set of risks for another.  (Points: 20)

(TCO H) Describe and explain the professionalizing phase in the evolution of a project management organization. Explain and defend why this phase is the most important of the process. Use examples to support your ideas (Points: 20).

(TCO B) Developing evaluation criteria for source selection require three prerequisites. Briefly describe these three prerequisites. (Points: 20)      

(TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities. (Points: 16)

(TCO A) Describe three techniques that build trust and a lasting partnership. Give an example for each technique and how it would impact an organization. (Points: 18)

(TCO E) Describe and explain some of the tools and techniques that should be used in source selection. For example, is negotiation the only effective tool for source selection or are there others? (Points: 16)

(TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and with time and material agreements. Offer your opinion on which type of contract would best suit your organizational needs if you had to only select one type of agreement for all your suppliers and sub-contractors. (Points: 16)

(TCO F) What is source selection, and why is it important? (Points: 16)

(TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe the reality of actual global contracts. (Points: 16).

(TCO H) One of the tools and techniques used in contract closeout or termination is complianceverification, briefly describe this tool. (Points: 16)

(TCO A) State and elaborate five actions to improve your use of contract incentives. (Points: 20)

(TCO E) It has been said that the side that does the most research and planning will often come out best in any negotiation? Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information (Points: 20)

(TCO F) What is an indefinite delivery indefinite quantity (IDIQ)? (Points: 20)

TCO G) Describe and compare and contrast the buyer's and seller's post-award phase of the contract management process. Give an example for each step in the process for the buyer and forthe seller. (Points: 20)

(TCO H) Describe and explain the awakening phase in the evolution of a project management organization. Explain and defend why this phase is the most important of the process. Use examples to support your ideas. (Points: 20)

(TCO B) What are the unique differences between cost plus incentive fee contracts and fixed price incentive contracts? (Points: 20)

(TCO F) What are some of the concerns with a time & material contract vehicle? (Points : 20)
sellfy