MGMT 404 HW 12

All of these are reasons to buy, versus make, except? A. Not core project work B. Learn new skills, can be used after project C. In house skills do not exist D. Transfer the risk

B

Conduct procurements is in which process group? A. Closing B. Executing C. Initiating D. Planning

B

Which contract type has cost overruns paid by the buyer only? A. CPIFF B. CPFF C. T&M D. FP

B

Your company is outsourcing a part of your project and therefore is preparing procurement documents. Which of the following is true about the procurement documents? A. The documents should follow the standards required by sellers. B. The documents should be flexible enough to allow sellers to be creative in offering solutions for meeting the requirements. C. The documents should be completely open-ended so each seller has complete freedom to suggest requirements and present their solutions. D. The documents should have a rigidly fixed format so there are no variations in the responses from different sellers.

B

A Statement of Work (SOW) is called a Term of Reference (TOR) when? A. When the project is less than 6 months in duration B. When the project is being done by an internal team C. When the procurement item is a service D. When the blueprint for a physical product is used

C

Make-buy decisions occur under which process group? A. Executing B. Monitoring and Controlling C. Planning D. Initiating

C

Which of the following is NOT true about planning procurements? A. Scope baseline is an input to planning procurements B. Make-or-buy decisions are an output of planning procurements C. Bid documents are an input to planning procurements D. Project charter is an input of planning procurements

C

Which document is used when the seller selection decision will be based on price (e.g., for a standard product)? A. Request for quotation B. Request for proposal C. Request for qualifications D. Request for information

A