Project Procurement Management Quiz
Started: Jun 28 at 7:46am
Quiz Instructions
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Question 11 pts
Your management asked you to finalize a contract for an online gaming portal
with one of the vendors. You want to make sure that through negotiation you are
clarifying and reaching mutual agreement on the structure and details of the
contract prior to signing. You also want to make sure while negotiating that you
cover major negotiation items, such as authority, responsibilities, price and
payment, financing, management approach, and applicable laws. You estimate
that it will take another ten days to complete the negotiation and finalize the
contract, but the project manager needs to initiate work on several items right
away in order to avoid drastic schedule problems in the future. What will be the
BEST course of action in this situation?
Group of answer choices
Verbally asked the vendor to start working while the negotiation is ongoing.
Send the Statement of Work (SOW) to the vendor
Issue a letter of intent or letter of contract
Inform the project manager that work cannot start prior to signing the final contract
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Question 21 pts
Which one of the following is NOT true about a cost reimbursement contract?
Group of answer choices
The buyer bears the most risk at total cost is unknown until the project is finished.
It requires auditing sellers’ invoices
Buyers usually write a detailed Statement of Work (SOW)
The seller has only a moderate incentive to control cost
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Question 31 pts
You are working on a construction project and successfully completed all the
work. Your stakeholders were very pleased and recently communicated their
final acceptance of the project. You are now meeting with your team to update the
organizational process assets with a record of knowledge gained about the
project to help future project managers with their projects. Once the lessons
learned are completed, what should you do NEXT?
Group of answer choices
Release the team
Close the contract
Get formal acceptance
Write lessons learned
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Question 41 pts
You are in charge of the bidding process for a government railway project. You
are trying to come up with a set of minimum criteria sellers must meet to be
considered. Which of the following are you working on?
Group of answer choices
Screening system
Proposal evaluation
A weighting system
An independent or in-house estimate
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Question 51 pts
Which of the following is NOT true about the Close Project or Phase process and
the Control Procurements process?
Group of answer choices
Project closure happens at the end of the project or project phases, whereas there may
be many procurement closures as there may be several procurements in a project.
It is not required to close all procurements prior to final project closure
Project closure may happen at the end of each phase and at the very end of the entire
project
Upon completion of the contract for each of the procurements, a procurement audit
should be carried out to close the procurement.
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Question 61 pts
You requested your experts to prepare an independent estimate, or in-house
estimate, for your contract to help judge whether the Statement of Work (SOW)
was adequate description or that the seller understood or responded fully to it.
You also want to check the reasonableness of the seller’s response and
proposed pricing. Which of the following BEST describes what you are doing?
Group of answer choices
Plan procurement management
Conduct procurements
Control procurements
Close procurements
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Question 71 pts
Which of the following is the process of documenting project purchasing
decisions, specifying the approach, defining selection criteria to identify potential
sellers, and putting together a procurement management plan?
Group of answer choices
Conduct procurements process
Plan procurement management process
Close procurements
Control procurements process
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Question 81 pts
Steve is a program manager overseeing an ERP implementation project where the
team has already completed the finance, sales, and admin modules out of seven
total modules. Steve was informed that the client has terminated the project as
they found a cheaper and faster off-the-shelf solution for their need and no longer
want the project to continue. Which of the following is TRUE?
Group of answer choices
The team must keep working on the project to give senior management time to discuss
with the client
Steve must stop all the work and release the team immediately
Steve must work with the team to document the lesson learned
Steve must close the contract
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Question 91 pts
You are in the control procurements process and want to document the
procurement lessons learned from everyone involved in your project to help
improve how your organization will handle procurements in the future. Lessons
learned register is created as a result of the procurement audit and include all of
the following EXCEPT:
Group of answer choices
Things that went right and wrong
Successes and failures that should be recognized
Using payment system to process considerations as per the terms of the contract
Process improvement recommendations and what will be done differently next time
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Question 101 pts
Sandi is working as a project manager in a drug manufacturing company, Ultra
Medicine, LLC. Ultra-Medicine is very excited to introduce a new drug in the
market that will stop the human aging process and drastically improve the quality
of health. Sandi initiated a conversation with one of the foreign vendors about
outsourcing the production of this new drug. The vendor is also very enthusiastic
about the potential of the new drug and has requested a copy of the Statement of
Work (SOW) so that they can start learning about it. Which one of the following is
FALSE about the SOW?
Group of answer choices
The SOW should contain the details of the new drug
The SOW should have the details as required but not so much as to give out all the
sensitive information and trade secrets of Ultra Medicines
The SOW should have enough detail for the vendor to figure out if they are capable and
qualified to manufacture the drug
Ultra-Medicine must write the SOW with necessary detail
