Unit Test 4 Chapters 11-13 Part two

A(n) _____ contract carries the least risk for suppliers.

CPPC

In project procurement management, which process involves completion and settlement of each contract, including resolution of any open items?

controlling procurements

What process involves determining everyone involved in the project or affected by it, and determining the best ways to manage relationships with them?

identifying stakeholders

Which process involves prioritizing risks based on their probability and impact of occurrence?

performing qualitative risk analysis

A shortage of qualified personnel is one of the main reason that companies outsource. A project may require experts in a particular field for several months and planning for this procurement ensures that the needed services will be available for the project. Which benefit does this characteristic of outsourcing provide an organization?

provides access to specific skills

_____ is a qualitative risk analysis tool that maintains an awareness of risks throughout the life of a project in addition to identifying risks.

Top Ten Risk Item Tracking

Communication and interpersonal skills are important for successful project stakeholder management.

True

Groups representing consumer, environmental, or other interests can be identified as project stakeholders.

True

Risks can have both negative and positive effects on meeting project objectives.

True

The Delphi technique is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events

True

In project procurement management, which is an output of the conducting procurements process?

change requests

Which diagramming technique is used to help select the best course of action in situations in which future outcomes are uncertain?

decision tree

The main outputs of which process include a risk register, risk report, and project documents updates?

identifying risks

Which is a fact-finding technique that can be used for collecting information in face-to-face, phone, e-mail, or instant-messaging discussions?

interviewing

Outsourcing suppliers can often provide economies of scale, especially for hardware and software, that may not be available to the client alone. Which benefit does this offer an organization?

reduction in costs

Risk utility rises at a decreasing rate for a _____ person.

risk-averse

After planning for procurement management, the next process involves ____.

sending appropriate documentation to potential sellers

After identifying and analyzing stakeholders, the project manager and team should develop a(n) ______ to help them effectively engage stakeholders and make sure that good decisions are made throughout the life of the project.

stakeholder engagement plan

Which is true about identifying stakeholders?

External project stakeholders include the project's customers.

Brainstorming is a systematic, interactive forecasting procedure based on independent and anonymous input regarding future events.

False

Key stakeholders need not be invited to participate in a kick-off meeting.

False

With a(n) _____ contract, the buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs.

CPFF

In a(n) _____ contract, the buyer pays the supplier for allowable performance costs along with a predetermined fee and an incentive bonus.

CPIF

Risk events refer to specific, certain events that may occur to the detriment or enhancement of the project.

False

A document used to solicit quotes or bids from prospective suppliers is known as a(n) _____.

RFQ