Chapter 12 Time quiz - Procurement Management 17 Jul 2020

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

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

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

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

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

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.

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

Question 8 of 100Question ID: 613625

A vendor, under a fixed price incentive fee (FPIF) contract, is inquiring about the incentive payment for building the fence for a new ballpark ahead of schedule. As agreed upon in the contract, the vendor was to receive a ten percent bonus if the fencing was delivered before the deadline.

In what process would the payments to the seller be made and monitored?

• AControl Procurements

• BControl Resources

• CControl Costs

• DConduct Procurements

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?

• AFirm fixed price (FFP)

• BCost plus fixed fee (CPFF)

• 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