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Chapter 12: Project Procurement Management Part 1

Contents of the procurement management plan vary with project needs
True
The fee in a CPFF contract constantly varies even when the scope of a contract remains the same
False
In which of the following contracts does the buyer pay the supplier for allowable performance costs along with a predetermined percentage based on total costs
CPPC
From the buyer’s perspective, the _____ is the least desirable among all contracts because the supplier has no incentive the decrease costs
CPPC
A _____ contract carries the least risk for suppliers
CPPC
A key factor in evaluating bits, particularly for projects involving information technology, is the past performance record of the bidder
True
Which of the following in an output of the contract closure process
Updates to organizational processes assets
After planning for procurement management, which of the following does the next process involve?
Sending appropriate documentation to the sellers
The main sections of an RFP can include the statement of work and schedule information
True
“Most organizations are not in business to provide information technology services, yet many have spent valuable time and resources on information technology functions when they should have instead worked on important competencies such as marketing, customer service, and new product design. Outsourcing helps tackle this problem.” Which of the following benefits does outsourcing primarily provide in such a scenario?
Helps focus on an organization’s core business
A single contract can include all three categories of contracts
True
A drawback of outsourcing is that:
It can make an organization become overly dependent on particular suppliers
The procurement statements of work are an output of the _____ process of project procurement management
Planning
In unit pricing, the total value of the contract is a function of the quantities needed to complete the work
True
With a _____ contract, the buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs
CPFF
The process of choosing suppliers or sellers is known as _____
Source selection
Suppliers are those organizations or individuals who provide procurement services
True
The first step in project procurement management is:
Planning procurement management
In project procurement management, an output of the _____ monitoring and controlling process
Change requests
Procurement audits are often done during contract closure to identify lessons learned in the entire procurement process
True

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