Procurement and Construction Management

Procurement and Construction Management

Assessment

Flashcard

Engineering

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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7 questions

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1.

FLASHCARD QUESTION

Front

What is Procurement?

Back

the purchase of goods and services that allows a company to manage its supply chains profitability and ethically

2.

FLASHCARD QUESTION

Front

4 Main types of procurement

Back

Service procurement, Indirect procurement, Goods procurement, Direct procurement

3.

FLASHCARD QUESTION

Front

What is a bidder?

Back

is a supplier or contractor who submits a formal request "(bid)" in response to an invitation to bid offering to provide goods, services, for a project

4.

FLASHCARD QUESTION

Front

Types of public procurement: Traditional procurement, competitive Negotiation Contract

Back

Traditional procurement, competitive Negotiation Contract

5.

FLASHCARD QUESTION

Front

Three types of procurement contracts: 1. Firm Fixed Price (FFP)​ 2. Fixed Price & Incentive Fee (FPIF)​ 3. Fixed Pricing with Economic Price Adjustment (FPEPA)​

Back

1. Firm Fixed Price (FFP)​ 2. Fixed Price & Incentive Fee (FPIF)​ 3. Fixed Pricing with Economic Price Adjustment (FPEPA)​

6.

FLASHCARD QUESTION

Front

Three stages of the procurement lifecycle

Back

1. Select target suppliers
2. Issue RFQ
3. Select Vendor

7.

FLASHCARD QUESTION

Front

Construction Management Procurement​ and Construction Management Agency​ are the same thing

Back

No

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