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PROJ410 Final Exam Set 2

PROJ410 Final Exam Set 2

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Author: Christine Farr
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1. (TCO 1) A cost-plus-percentage-fee contract is a: _______. (Points : 5)
cost-reimbursable contract, the seller pays the buyer's actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer's actual costs, and all of the total project costs
cost-reimbursable contract, the buyer pays the seller's actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer's actual costs, and none of the total project costs
2. (TCO 2) The difference between the project manager and contract administrator is: ______. 

(Points : 5)
the project manager is responsible for the project-related coordination, while the contract manager is responsible for administering the contract
the contract administrator has the authority to make all contract-related decisions, like approving a change order. The project manager does not have this level of authority.
the project manager is responsible for the administering of the contract, while the contract manager is responsible for project-related coordination.
the project manager has the authority to make all contract-related decisions, like approving a change order. The contract administrator does not have this level of authority.
3. (TCO 3) Which is a key component in the project procurement management process? (Points : 5)
RFI Request for Issue
RFP Request for Proposal
RFB Request for Buy
RFC Request for Contract
4. (TCO 2) Senior management typically has different reasons for issuing the directive to outsource than management responsible for the business process. Senior management typically decides to evaluate outsourcing because: ______. (Points : 5)
there is a means to focus more resources on business process strategy
there is a means to focus less resources on business process strategy
there is an effort to decrease performance
there is an organization-wide directive to downsize or cut costs
5. (TCO ) When notifying third parties in a transition plan, who would not need to be notified? (Points : 5)
Third-party vendors
Government or regulatory authorities
Customer's competitors
Customer's clients
6. (TCO ) In International contracts, which industry-specific question does not need to be asked? (Points : 5)
Which country’s standards are used?
What regulatory authorities are called into question?
What regulations are specific to the business process operations?
What notice requirements or approvals are needed before and after a contract signing?
7. If a contract is seen through its full term, list two items that should be completed as part of contract close-out? What is a close out manager? Why is deliverable acceptance documents so important?
8. (TCO 8) What are the two ways to rank the seller's proposals before selecting a seller? (Points : 12)
9. (TCO 6) Sometimes, a seller is selected based solely on lowest price. However, sometimes this is not always the most efficient or effective way of selecting a seller. What are some of the other evaluation criteria that a buyer may use to help select a seller? (Points : 12)
10. What are some of the common techniques used for establishing service levels?


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