Assume you are working on a complex project. In fact, it is the most complex project in your organization, so the CEO is interested in it and asks questions about its progress in staff meetings. On this project, you are outsourcing a lot of this work. This means you should—

Contract type selection is dependent on the degree of risk or uncertainty facing the project manager. From the perspective of the buyer, the preferred contract type in a low-risk situation is—

The buyer has negotiated a cost-plus-incentive fee contract with the seller. The contract has a target cost of $300,000, a target fee of $40,000, a share ratio of 80/20, a maximum fee of $60,000, and a minimum fee of $10,000. If the seller has actual costs of $380,000, how much fee will the buyer pay?

Assume you are managing a project and have decided to outsource about 40% of the work. You expect to award three contracts for certain work packages in the WBS. The benefit of this Conduct Procurements process is that it—

You are monitoring and controlling the three contracts on your project. You find that two of the sellers’ performance is above average, but the third seller is failing to deliver as planned, and when this seller does deliver, the costs are higher than planned. You decide this seller’s performance is not going to improve. Your best course of action is to—

You issued a RFP, and when the proposals were received, there were expected differences in the price and managerial approach sections. What was surprising was the range of different technical approaches that were offered. You then decided to—

You are a contractor for a state agency. Your company bid on a high-value project with a firm-fixed price contract for a water resource management project for your state. Before the agency selected a seller, its project manager decided to—

You are working to prepare your procurement management plan. You are planning to determine the type of contract to issue, but first you want to see possible costs as your University is updating its software used by students and faculty. You decide to—

You are awarding a contract to help develop a new feature in the 12th generation phone. You feel this feature will enable your company to outpace the competition. Since you want to outdistance the competition, you want the contractor to have the best and brightest people on its staff. As you select source selection criteria, you should include—

You are working to determine the type of contact for your data warehousing project and you want to have a number of sellers bid on this opportunity However, the project is not located in a desirable area and is it is in a remote part of your country. You decide to gauge interest and decide to—

A number of administrative activities are important in procurement management. For example, you should retain—

Recent data indicate that more than 10,000 airline passengers are injured each year from baggage that falls from overhead bins. You performed a make-or-buy analysis and decided to outsource an improved bin design and manufacture. The project team needs to develop a list of qualified sources. As a general rule, which method would the project team find especially helpful—

You are working to monitor and control your three contacts on your program. Your company is certified by the Software Engineering Institute’s Capability Maturity Model for Integration, which means your three contactors also hold this certification. Of the following tools and techniques to use, you select—

You are working on a new project in your organization. You need to decide how best to staff the project and handle all its resource requirements. You decide to—

Your company decided to award a contract for project management services on a pharmaceutical research project. Because your company is new to project management and does not understand the full scope of services that may be needed under the contract, it is most appropriate to award a—

Requirements for warranty and future product support are found in the—

You plan to award a contract to provide project management training for your company. You decide it is important that any prospective contractor have an association with a major University that awards master’s certificates in project management. This is an example of—

The project team has the responsibility to ensure a procurement agreement—

During the course of working with a seller that no one had worked with previously and is working on site with your team, in preparing the contract you specified that inspections and audits can be conducted. You decided to hire an outside person, considered to be an expert in project management to conduct an audit. In doing so, it is important to ensure that—