Pretest Chapter 12, 13 - Day 3 ICT Project Manager

Which document is a detailed description of the product, service, or result to be supplied by an external seller?

• Project Charter

• Procurement Statement of Work (SOW)

• Requirements Documentation

• Source Selection Criteria

A "Fixed-Price Contract" places most of the cost risk on the buyer.

• True

• False

The process of deciding whether a product, service, or result can be produced by the project team or should be purchased from an external source is called:

• Market Research

• Alternatives Analysis

• Make-or-Buy Analysis

• Source Selection Analysis

A "Request for Proposal (RFP)" is typically used when the buyer needs to acquire a standard, well-defined item and mainly wants price quotations.

• True

• False

Which type of contract reimburses the seller for their actual costs incurred, plus a fee, and is often used when the scope is uncertain?

• Fixed Price Incentive Fee (FPIF)

• Time & Material (T&M)

• Firm Fixed Price (FFP)

• Cost-Reimbursable (CR)

"Bidder conferences" are meetings held after sellers have submitted their proposals to clarify specific points.

• True

• False

The primary output of the "Conduct Procurements" process is:

• Procurement Management Plan

• Agreements

• Seller Proposals

• Closed Procurements

"Audits" are a valuable tool in "Control Procurements" to verify that a seller's processes comply with contract terms.

• True

• False

The process of formally completing each project procurement, verifying all contractual obligations, and archiving records is called:

• Control Procurements

• Close Project or Phase

• Close Procurements

• Monitor Procurements

"Qualified Seller Lists" are updated as an Organizational Process Asset (OPA) during the "Close Procurements" process.

• True

• False