PM 598 FINAL EXAM KELLER

$30.00

PM 598 FINAL EXAM KELLER – UPDATED

TCO A) All the below are tools and techniques of conduct procurement, except (Points : 5)

(TCO A) All the below are tools and techniques of control procurement, except (Points : 5)

(TCO B) Proper selection criteria are critical for a successful project. All of the below would be considered good selection criteria for a buyer to use to select a seller, except (Points : 5)

(TCO A) Why are the project schedule and the project budget inputs of plan procurement?

(TCO B) You are creating your SOW for inclusion into the RFP. You wish to include both qualitative and quantitative evaluation criteria in the RFP. Describe qualitative versus quantitative evaluation criteria. (Points : 12)

(TCO C) Awards and incentives are commonly used in contracts. Are these simply just two different way of saying the same thing, or are awards and inventive contracts different? (Points : 12)

(TCO C) From the viewpoint of the buyer, why are award fees and incentive fees important in contracts? (Points : 12)

(TCO D) Compare and contrast sole source and single source approaches to procurement. (Points : 12)

(TCO D) Describe the typical work relationship between a project manager and a contract manager

(TCO E) What is the purpose of creating a procurement SOW for an RFP? (Points : 12)

(TCO E) You are writing a procurement SOW for an RFP. What items are you likely to include in this SOW? (Points : 12)

(TCO F) You are preparing for contract negotiations. To achieve your desired contract negotiation results, you need not only a strategy but also tactics and countertactics. Give an example of two tactics, and state why they help you achieve the desired result. (Points : 12)

(TCO F) You are the project manager on an upcoming project. You and the contract administrator are preparing for contract negotiations with two potential sellers. Why is determining who has authority an important activity in conducting a negotiation? (Points : 12)

(TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe the reality of actual global contracts. (Points : 12)

(TCO G)What are the five ways that a contract can end? Please provide an example of each. (Points : 12)

(TCO A) Describe and explain the four processes in the procurement management process from the buyer perspective, as shown in the PMBOK® Guide. (Points : 20)

(TCO B) You are a project manager at a bidder’s meeting. One of the potential sellers asks you a question concerning the project in the hallway leading to the meeting room. Can you answer this question for the seller? What would be your concern if you did answer the question? (Points : 20)

(TCO B) WHAT ARE THE UNIQUE DIFFERENCES BETWEEN COST PLUS INCENTIVE FEE CONTRACTS AND FIXED PRICE INCENTIVE CONTRACTS? (POINTS: 20)

(TCO C) Fixed-price, cost-reimbursable, and time and material contracts are all potential agreements that could be reached between organizations. Describe each type of contract, and explain the range of risk for each of these types of contracts. (Points : 20)

(TCO D) Compare and contrast an RFP and an IFB. When would each best be used in procuring goods or services?(Points : 20)

(TCO D) You are reviewing procurement models and you notice that there are three types of procurement statements of work. What are the three types of procurement statements of work? When is each appropriate for a given contract? (Points : 20)

(TCO E) You have been assigned to do a make-or-buy analysis. What factors will you likely include in your make-or-buy evaluation? (Points : 20)

(TCO E) Describe the buyer’s plan procurement process of the contract management process as it relates to creating a RPF. Give an example of the activity that takes place in each step. (Points : 20)

(TCO G) Often in the procurement closeout process, a procurement audit is done. What is a procurement audit, and what is the purpose of a procurement audit? (Points : 20)

(TCO G) Describe and compare and contrast the buyer’s and seller’s actions in the control procurement phase of the contract management process. Give an example for each. (Points : 20)

TCO F) “The side that does the most research and planning will often come out best in any negotiation.” Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information. (Points : 20

(TCO F) Describe a memorandum of understanding and letter of intent. (Points : 20)

(TCO H) What does the uniform commercial code (UCC) state regarding price and warranty? What if a price is not specified in an agreement? What if a price is specified in an agreement? Does the UCC modify the price? What about a warranty? What rights does the buyer have for a guarantee under the UCC? What protection is granted to the seller? (Points : 20)

(TCO H) Under U.S. and international law, all contracts must contain five elements or satisfy five requirements. List and explain each of these five elements. (Points : 20)

(TCO G) One of the inputs to contract closeout is completion of work, what does it mean? (Points : 16)

(TCO D) DESCRIBE AND EXPLAIN SIMPLIFIED NON-COMPETITIVE APPROACH TO CONTRACTING. DESCRIBE AND EXPLAIN FORMAL COMPETITIVE APPROACH TO CONTRACTING. COMPARE AND CONTRAST THESE TWO TYPES OF APPROACHES TO CONTRACTING. (POINTS: 16)
(TCO A) DISCUSS AND EXPLAIN THE PURPOSE OF AN INTEGRATED SUPPLY CHAIN. WHY IS IT IMPORTANT? WHAT IMPACT DOES E-COMMERCE HAVE ON AN INTEGRATED SUPPLY CHAIN? WHAT IMPACT DOES THE INTERNET HAVE ON AN INTEGRATED SUPPLY CHAIN? (POINTS: 18)
(TCO B) DESCRIBE THE SELLER’S PRE-AWARD STAGE OF THE CONTRACT MANAGEMENT PROCESS. GIVE AN EXAMPLE OF THE ACTIVITY THAT TAKES PLACE IN EACH STEP. (POINTS: 16)
TCO E) Describe the role of law in contracts.
A – Explain the role of the contract.
B – Explain the role of common law.
C – Explain the role of civil law.
D – Explain the role of the Uniform Commercial Code (UCC).(Points: 16)

Description

PM 598 FINAL EXAM KELLER,
(TCO A) All the below are tools and techniques of conduct procurement, except (Points : 5)
bidder’s conferences, negotiations, and advertising.
analytical techniques, expert judgments, and evaluation techniques.
estimates, bidder’s conferences, and evaluation techniques.
negotiations, make-or-buy decisions, and advertising.
(TCO A) All the below are tools and techniques of control procurement, except (Points : 5)
claims administration, payment systems, and procurement SOW.
performance reviews, record management systems, and change control systems.
change control systems, payment systems, and inspections and audits.
records management systems, claims administration, and performance reporting.

(TCO B) Proper selection criteria are critical for a successful project. All of the below would be considered good selection criteria for a buyer to use to select a seller, except (Points : 5)
managerial approach of seller, references of seller, and ability of seller to make a reasonable make-or-buy decision.
past work done by seller, intellectual property rights, and risk associated with a given seller.
technical capability of seller, understanding of work by seller, and business type of seller.
financial capacity of seller, overall cost, and warranty offered by seller.

(TCO A) Why are the project schedule and the project budget inputs of plan procurement? (Points : 8)
Firstly, Project schedule is because to track the duration and time for project task that need to be performed.
Secondly, by seeing the schedule the we can decide for “make or buy” decision or other procurement related decision for project budget inputs of plan procurement.

(TCO B) You are creating your SOW for inclusion into the RFP. You wish to include both qualitative and quantitative evaluation criteria in the RFP. Describe qualitative versus quantitative evaluation criteria. (Points : 12)
Qualitative evaluation criteria:
This evaluation is based on the result or the score of the outcomes. Like buyer can set criteria that vendor company at least work with 10 clients and 8 projects.
Quantitative evaluation criteria:
It’s the hard selection of criteria emotional responses and valued judgment.
Like the vendor company did the compelling project in last few years.

(TCO C) Awards and incentives are commonly used in contracts. Are these simply just two different way of saying the same thing, or are awards and inventive contracts different? (Points : 12)
Awards and incentives are commonly used in contracts to compensate contractors who perform above an established baseline in the contract.
Award fee is used to motivate contractors to perform over and above set criteria. The fee is based on goals or objectives that may be more subjective. An amount of money is determined and set aside by the project team to be earned by contractor(s) in terms of excellent performance. Meanwhile, an incentive fee is used to encourage performance in areas critical to the project for instance, in reducing project costs.

(TCO C) From the viewpoint of the buyer, why are award fees and incentive fees important in contracts? (Points : 12)
From the buyer’s point of view, awards and incentives are important as a means to motivate contractors to perform over and above project requirements.

Reviews

There are no reviews yet.

Be the first to review “PM 598 FINAL EXAM KELLER”

Your email address will not be published. Required fields are marked *