Project Procurement and Contract Management Quiz

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1. 1

   What is the primary purpose of a project procurement management plan?

   A To define how external products and services will be acquired, managed, and closed B To document every task that the seller must include in its internal schedule C To transfer responsibility for overall project success to selected suppliers
2. 2

   A buyer has complete engineering drawings, stable requirements, and objective acceptance criteria for a component. Which contract type is generally most suitable?

   

   A Cost-plus-fixed-fee contract B Firm-fixed-price contract C Time-and-materials contract
3. 3

   Under a cost-reimbursable contract, which party generally carries more risk from allowable cost growth?

   A The seller, because payment never changes after award B Both parties equally, regardless of the contract terms C The buyer, because allowable actual costs are reimbursed
4. 4

   Using the make-or-buy cost data shown, what should the project do if it needs 3,000 units?

   

   A Make the units internally and save $15,000 B Buy from the supplier and save $15,000 C Either choice, because total costs are equal
5. 5

   What is a key purpose of holding a bidder conference before sellers submit proposals?

   A To negotiate the final contract privately with the preferred bidder B To give prospective sellers a consistent understanding of the procurement C To permit sellers to jointly determine the prices they will propose
6. 6

   Based on the weighted evaluation matrix shown, which supplier has the higher total weighted score?

   

   A Supplier X, with a score of 7.9 B The suppliers are tied at 7.0 C Supplier Y, with a score of 7.9
7. 7

   Which procurement document is represented by the illustrated sections?

   

   A Procurement statement of work B Seller's invoice C Procurement audit report
8. 8

   A contractual dispute remains unresolved after direct negotiation, and the contract requires a neutral third party to issue a binding decision outside court. Which method applies?

   A Mediation B Arbitration C Bidder conference
9. 9

   Which project procurement activity is depicted by the seller-performance workflow shown?

   

   A Planning procurement management B Conducting procurements C Controlling procurements
10. 10

    Which statement best describes a time-and-materials contract?

    A It combines fixed labor or material rates with a variable quantity of work B It guarantees a fixed total price regardless of time or quantities used C It reimburses every seller cost and adds a percentage fee without unit rates
11. 11

    Before formally closing a procurement, which action is most important?

    A Delete working records after the final delivery to reduce storage needs B Confirm acceptance, resolve outstanding claims, and complete closure records C Release the seller before verifying compliance with contract terms