Question 9 of 100Question ID: 613776 Due to the length of the project and the volume of concrete involved, inflation is a concern for potential suppliers. You specify that bids be a set price per cubic yard of concrete plus a quarterly adjustment based on the Producer Price Index (PPI). What is the appropriate type of contract for this situation?

CFixed price with economic price adjustments (FPEPA)

DFixed price plus inflation adjustment (FPPIA)

Question 10 of 100Question ID: 612539 A project manager closes out the contracts for a project. A review of vendor performance suggests that it would have been beneficial to understand vendor capabilities better before conducting contract negotiations. What should the project manager do first?

ACapture the information in the lessons learned register

BUpdate the project management plan

CRecommend that the same vendor is never used again

DBegin the Close Project or Phase process

Question 11 of 100Question ID: 651436 Midway into project execution, a buyer has informed the seller that starting the next month, the payments will be released at the beginning, instead of the end, of each month. The seller welcomes the change as it would be beneficial for their company. What should the seller do?

DAsk the buyer to issue a change request to the contract

ADo nothing as the change is beneficial

BProvide the deliverables at the beginning of each month

CUpdate the procurement management plan

Question 14 of 100Question ID: 613031 A project team is reviewing proposals submitted by several vendors. One project team member suggests selecting the vendor with the lowest cost since the project is over budget. Another project team member is advocating for the vendor with the most expertise since quality is an important factor. What is the best course of action for the project manager?

AReview the source selection criteria

CReview the requirements traceability matrix

DSelect the vendor with the most expertise

Question 15 of 100Question ID: 613043 As part of project procurement activities, the project manager needs to purchase corn for testing a new ethanol production facility. Corn represents the single biggest expense for the project. Due to a crash in the commodities market, the project manager is able to acquire corn at a dramatically lower price than expected. What is the best course of action for the project manager?

BSubmit a change request to update the cost baseline

AAllow the project to proceed significantly under budget

CUse the savings to acquire additional corn for future projects

DUpdate the work breakdown structure (WBS)

Question 16 of 100Question ID: 612402 You are managing a project to develop a robotic window washing system. Many of the necessary parts of the robotic system will be obtained from third-party vendors. At this point in the project, you have obtained the vendor responses for the electronics required for the robots, selected a vendor, and awarded a contract. Which of the following should you do next in Project Procurement Management?

CProcurement statement of work (SOW)

DDevelop source selection criteria

Question 18 of 100Question ID: 612584 You are planning a project, where you need several external contractors to complete the project deliverables. In past projects, internal developers have had disruptive personality conflicts with contractors. Therefore, before making any long-term commitments, you want to ensure that the contractors are a good fit for your corporate culture and work well with the internal team. What is your best course of action?

BConduct a trial engagement with several potential contractors for initial deliverables

ASend potential contractors to team building workshops

CCover the team charter with the contractors before engaging their services

DOrganize a meet and greet with potential contractors and the development team

Question 19 of 100Question ID: 612588 You are in the planning stage of a large project, which will require contracts with various vendors and suppliers to produce the project's deliverables. With the procurement management plan and make-or-buy analysis complete, you are about to begin the development of a document that will outline the procurement strategy for the project. Which of the following are you least likely to include in this document?

CResponsibilities of stakeholders

Question 20 of 100Question ID: 612782 The project manager is currently closing a procurement with a contractor and has requested the final invoice. The contractor forwarded an invoice for $100,000. However, according to the project manager's calculation and the work delivered by the contractor, the invoice should be no more than $70,000. What should the project manager do?

CUse alternative dispute resolution (ADR)

Question 21 of 100Question ID: 612194 The project you are managing has experienced quality issues, which were the fault of one of the suppliers. Much of the rework the supplier has billed for in the final invoice of $17,500 was created by their quality issues; therefore, you arrived at a revised amount of $15,300 to be paid. You sent the payment of $15,300 along with your justification, but the supplier reinvoiced with a balance due of $2,200. What is your best course of action now?

AContact the legal team about pursuing legal action against the supplier

BIgnore the supplier's second invoice and consider your payment of $15,300 payment in full

CResolve the matter using alternative dispute resolution (ADR)

Question 22 of 100Question ID: 612092 Two qualified vendors have been identified for a project. The requesting organization is capable of performing the work, but it was deemed less cost-effective to do so. During vendor selection, the project manager learns that one vendor already works with a competitor and are restricted by an exclusivity clause. The other vendor is not available during the required timeframe. What might the project manager have done differently to avoid this situation?

CTailored the way the procurement processes were applied

AIncluded the evaluation method in the procurement documents

BObtained an independent cost estimate

DConducted a make-or-buy analysis

Question 25 of 100Question ID: 612560 You are leading a project in which a vendor appears to be off to a slow start. The vendor insists that they will complete on time, but you are still concerned. It is your first time to work with the vendor, but they are on the project management office (PMO)'s preapproved sellers list. What is the best way to learn about the past performance history with the vendor?

CCheck with the PMO and see what information they have on the vendor

ALook in the lessons learned register

BReview the risk response plan in the risk register

DDiscuss your concerns with the project sponsor

Question 26 of 100Question ID: 612695 You are leading a large and complex project, which requires various vendors and suppliers to provide project deliverables. One of your vendors contacts you and states that they have just completed their contracted work and would like to know when they will receive final payment. How might you respond to the vendor's question?

CAfter we have approved all of your deliverables

AOnce we have verified that you are on our prequalified seller list

BAfter we provide you with formal written notice that the contract has been completed

DWhen we perform project closure, we will release final vendor payments

Question 28 of 100Question ID: 612559 Several critical parts were chrome plated by a vendor instead of zinc plated as specified in the contract. The vendor states that zinc plating the parts would not offer the required corrosion resistance to meet project requirements and insists on a significant increase in payment for plating the parts in chrome. After long negotiations, the dispute is eventually resolved and the contract is closed out. The project manager is closing the project now. What is the best way for the project manager to minimize the chance of a similar problem recurring in future projects?

BEnsure the knowledge gained is archived in the lessons learned repository

AUpdate the lessons learned register

CRemove the vendor from the preapproved seller list

DAccept the fact that disputes are inevitable and move on to the next project

Question 29 of 100Question ID: 613550 A project manager is leading a project to install self-service kiosks. After a bidder conference, one of the prospective vendors asks the project manager if a WiFi connection is required to establish connectivity with the kiosks. The project manager realizes that the WiFi is indeed required but was not discussed at the conference nor was it part of the bid documents. What is the best course of action for the project manager?

BSend a formal letter to all prospective vendors clarifying that WiFi access is part of the bid

AThank the vendor for raising this point and let this vendor know that WiFi access should be delivered

CHold another bidder conference with all prospective vendors to clarify the WiFi requirement

DIgnore the question as no additional clarifications are allowed after the conference has been concluded

Question 30 of 100Question ID: 612903 An organization has a policy that directs to use only prequalified vendors. A project manager finds a logistics company that offers much better prices than its competitors. The project manager wants to add the vendor to the list, but the procedure can take several months due to the rigorous qualification process. What should the project manager do?

BWork with the purchasing department to add the new logistics company to the prequalified vendors list

AAdd the new logistics company to the prequalified vendors list and use their services for the project

CSelect the new logistics company since their price is the best among all other prequalified vendors

DIgnore the new logistics company since they are not on the prequalified vendors list

Question 31 of 100Question ID: 613642 You are selecting the appropriate contract agreement for your project. The services to be provided will be well-defined. The schedule and price will be agreed up front. You expect that there will be no significant change in the work to be performed. The contract will include criteria that you and the seller agree on that will allow the seller additional earnings for completing the project work early. What type of contract should you select?

DFixed price incentive fee (FPIF)

BCost plus incentive fee (CPIF)

Question 32 of 100Question ID: 612259 A project manager invited several vendors to a pre-bid conference. After a private conversation with one of the vendors who had an inquiry about a new mandatory government requirement, the project manager sent an email to the vendor to address the question. The project manager realizes that the requirement should have been included in the project scope baseline and the statement of work (SOW). What should the project manager do in this situation?

DUpdate the SOW, submit a change request to update the scope baseline, and communicate the changes to all vendors

ANo further action is needed as the vendor's question have been addressed

BUpdate the statement of work and the scope baseline, and communicate the changes to all vendors

CUpdate the statement of work and the scope baseline, and hold another pre-bid conference

Question 34 of 100Question ID: 612617 You are a project manager for an engineering services company, in the process of bidding to work on a solar energy project for a utility company. What is the first thing you should do to position your company as the best fit for the project?

CLook for the selection method in the procurement documents of the utility company's bid package.

AAttend the bid conference to learn all you need to know about the utility company's requirements.

BRequest an independent cost estimate to include in your seller response.

DRe-use a proposal that won selection by a telecommunications company.

Question 35 of 100Question ID: 612551 A project manager and team are in the process of finalizing all project activities. They have obtained final acceptance and transferred ownership of deliverables, obtained administrative closure, collated lessons learned, archived all project documents, and obtained feedback from relevant stakeholders. Finally, the project manager and team have been released and reassigned to other assignments. Based on the information provided, what might have been forgotten?

CPreparing and sharing the final project report

AVerifying that project deliverables conform to the quality management plan

BReviewing and assessing detailed project requirements

DConducting benefit analysis with relevant stakeholders

Question 36 of 100Question ID: 612698 You have completed a nine-month project, and you are in the closing stage. The project completed on time and under budget and everyone in your department has congratulated you on your achievement. The vice president of your company heard about the success of your project and wants a summary overview of project performance so that he can talk about your success at the next board meeting. What should you provide to him?

CFinal lessons learned register

Question 37 of 100Question ID: 612202 You are the project manager for a large healthcare organization managing the installation of an electronic medical record (EMR) system. The installation requires a lot of different hardware purchases since this will be the first time an EMR has been used in the organization. You have been working through the procurement process, and you are now in the Control Procurements process. Which of the following activities will you perform as part of that process?

DPerform source selection analysis

Question 38 of 100Question ID: 612318 A vendor on your project missed an important deadline and has not been responsive to quality issues. You want to terminate the contract for cause and find another vendor to finish the work, but you learn that the vendor was paid in full upon delivery of the materials to the job site. What could have been done differently to prevent the vendor from getting paid prematurely?

CThe use of more appropriate contract terms

AProceeding with claims administration

BUsing a prequalified seller list

DUsing a more appropriate contract type

Question 39 of 100Question ID: 612295 As a project manager, you contracted with another company to develop a smartphone app. The company has demonstrated the completed app, and you have verified that it meets all technical and quality requirements. Overall, you are pleased with the performance of the seller and plan to use them again in the future. Now that the project deliverables are complete, who is responsible for declaring the formal closure of the procurement contract?

AThe buyer is responsible for closing out the procurement contract.

BThe seller is responsible for closing out the procurement contract.

CBoth buyer and seller are mutually responsible for closing out the contract.

DA procurement contract is considered closed when the deliverables are accepted.

Question 43 of 100Question ID: 612740 Your enterprise software integration project has just begun execution when your organization acquires a new subsidiary and involves them in the project. The new subsidiary recently finished a similar integration project using a compatible tool. Using the tool may accelerate both your project and the new subsidiary's assimilation into the organization. However, the schedule and cost variances to take this opportunity do not quite meet agreed-upon risk thresholds. What should you do?

CSubmit a change request to adjust the risk thresholds that consider the new stakeholders' risk appetite and to update the baselines.

ADo nothing, because the opportunity does not meet your existing stakeholders' risk thresholds as documented in your risk management plan.

BAsk your project sponsor for permission to switch to the tool that has been used by the new subsidiary in their recently completed project.

DTrain your team to use the new tool based on the expert judgment of your new subsidiary's integration project team members.

Question 45 of 100Question ID: 613559 A vendor supplies highly specialized subject matter experts for the project you are leading. The vendor has just informed you that a key resource essential to the development of one of the project’s deliverables will not be available for one month due to unforeseeable circumstances beyond the vendor's control. The contract with the vendor contains a force majeure clause. What should you do first?

CRevise the resource calendar to reflect resource availability

AContact corporate counsel to note the vendor is in breach of contract

BTell the vendor they need to pay damages for lost time while the resource is out

DInform stakeholders that the project would not be able to deliver on schedule

Question 46 of 100Question ID: 612572 As a project manager, you are finalizing all of the activities related to your current project. As part of this process, you have prepared a report which summarizes the project performance. What should you do to determine how to disseminate this information to the relevant project stakeholders?

CReview the project management plan

ALook in the final project report

BSend the report to all stakeholders

Question 47 of 100Question ID: 612066 A project manager has ongoing issues with a pre-qualified seller who has repeatedly failed to meet quality standards specified in the contract. The seller has also been unresponsive when the project manager has tried to resolve the quality issues. The project manager wants to ensure that this seller will not be considered again for future contracts. What is the best course of action for the project manager to take in this situation?

ARecommend removing the seller from the prequalified sellers list

BCapture the information in the issue log

CUpdate the project management plan

Question 48 of 100Question ID: 612311 As a result of the customer inspection, the project manager realizes that some of the components of the project management plan, such as the cost baseline, schedule baseline, and procurement management plan, should be updated. What should the project manager do next?

BUpdate the components as necessary

DBegin the Close Project or Phase process

Question 49 of 100Question ID: 612959 A domestic vendor that is supplying the most critical component for a project you are leading is acquired by a major foreign conglomerate. The conglomerate has a history of replacing the executive team in the companies they acquire with new people from their corporate office. The only change that affects your project is that invoices are now payable to the conglomerate's corporate office. Which of the following project artifacts will you least likely need to update?

ACommunications management plan

Question 51 of 100Question ID: 612021 You are leading a project in a small startup company with decentralized purchasing. A supplier informs you that they have excess inventory that can be purchased at a reduced price. You review the project's inventory needs and find that most of the excess inventory offered by the supplier can be used for the project. What is your best course of action?

BNegotiate and sign a procurement contract with the supplier

ARefer the supplier to the project sponsor for procurement

CRefer the supplier to the procurement department

DRefer the supplier to the project management office (PMO)

Chapter 12 Time quiz - Procurement Management 17 Jul 2020

Authored by Edi Giyanto

Professional Development

Used 2+ times

Chapter 12 Time quiz - Procurement Management 17 Jul 2020

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100 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Question 1 of 100Question ID: 612386
A vendor did not perform as contracted, so you are withholding payment as stipulated by the contract. The vendor started using foul language and is calling you names. Your team members are furious, and some of them have responded similarly. Even though you are angry as well, you stay calm and handle the situation with respect.
Which of the following have you demonstrated by responding to the situation in this way?

AConducted yourself in a professional manner

BProved to be loyal to the vendor

CProtected team members from the fight

DBoosted team morale

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Question 2 of 100Question ID: 612386
Who can terminate a contract on a project?

AEither party before the start of work

BThe buyer before the start of work

CEither party by mutual consent

DEarly termination is not an option

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Question 3 of 100Question ID: 612940
The project team has spent a great deal of time reviewing a set of significant changes that a vendor proposed to the specifications of a project deliverable. Everyone eventually agrees that the changes would improve the deliverable without any net effect on the cost.
What should be done next?

AImplement the changes since no additional costs are involved

BIssue a change request to update the procurement management plan

CIssue a change request to update the project management plan

DDeduct the cost of the evaluation process from the vendor's invoice

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Question 4 of 100Question ID: 612379
You have begun evaluating sellers' progress in producing project deliverables to see if there have been any reported issues with quality or availability as well as how the schedule and cost are comparing to the agreement with the vendor.
The activities you are performing can best be described by which of the following?

APlan Procurement Management

BConduct Procurements

CPerformance measurements

DPerformance reviews

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Question 5 of 100Question ID: 651302
A project requires consultant services. How much and for how long these services are needed is not known. The project needs to procure these services quickly.
Which contract type should be used?

ACost plus fixed fee

BTime and material

CCost plus award fee

DFixed fee with economic price adjustments

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Question 6 of 100Question ID: 613708
You as a project manager have outsourced a portion of your work to a vendor with whom neither you nor the sponsor has worked with before. You have a cost-reimbursable contract with the seller. The sponsor, on more than one occasion, has discussed his concerns with you that the seller could easily increase their profits with this type of agreement.
What should you tell the sponsor to decrease his apprehensions?

AYou audit every invoice to ensure the costs are applicable and chargeable to your project.

BYou do not expect any changes to the scope.

CThe seller has the risk with this type of contract.

DWith this type of contract, the seller agrees to a set reimbursement amount, so the final costs to your project are pre-determined.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Question 7 of 100Question ID: 612352
The project manager reviews the issue log at the end of each day. One issue she recorded in the issue log stems from delays in the delivery of material from a contracted supplier. The project manager suspects the procurement process is flawed.
What tool should the project manager use to determine if any adjustments to the procurement process are required?

AInspection

BAudit

CIndependent estimate

DClaims administration

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Chapter 12 Time quiz - Procurement Management 17 Jul 2020

Question 2 of 100Question ID: 612386Who can terminate a contract on a project?

Question 5 of 100Question ID: 651302A project requires consultant services. How much and for how long these services are needed is not known. The project needs to procure these services quickly.Which contract type should be used?

Question 10 of 100Question ID: 612539A project manager closes out the contracts for a project. A review of vendor performance suggests that it would have been beneficial to understand vendor capabilities better before conducting contract negotiations.What should the project manager do first?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Professional Development

Question 2 of 100Question ID: 612386
Who can terminate a contract on a project?

Question 5 of 100Question ID: 651302
A project requires consultant services. How much and for how long these services are needed is not known. The project needs to procure these services quickly.
Which contract type should be used?

Question 10 of 100Question ID: 612539
A project manager closes out the contracts for a project. A review of vendor performance suggests that it would have been beneficial to understand vendor capabilities better before conducting contract negotiations.
What should the project manager do first?