T/F: providers are those organizations or individuals who provide procurement services.

You are watching: A(n) _____ contract carries the least risk for suppliers.


T/F: when outsourcing, institutions should safeguard strategic information since it can come to be vulnerable in the hands of suppliers.


T/F: job procurement management consists primarily of two processes: assessing procurements and also controlling procurements.


T/F: If one organization has actually no need to buy any kind of products or services from outside the organization, climate it has no have to perform any type of of the procurement monitoring processes.


T/F: threat registers and also stakeholder registers room outputs that the planning procurement process.


T/F: A solitary contract can include all three categories the contracts.


T/F: Indirect prices are those expenses can it is in traced ago to a project in a cost-effective way.


T/F: Buyers absorb lesser threat with cost-reimbursable contracts than they perform with fixed-price contracts.


T/F: The fee in a CPFF contract continually varies also when the border of a contract continues to be the same.


T/F: In unit pricing, the full value that the contract is a duty of the quantities essential to complete the work.


T/F: every contracts need to include specific clauses the take into account concerns unique come the project.


T/F: In one FPI contract, every one of the hazard is borne by the buyer.


T/F: one FP-EPA contract dead the the very least risk for a supplier.


T/F: Make-or-buy evaluation involves comparing the internal costs of giving a product with the expense of outsourcing.


T/F: A agency is considering whether to acquisition or lease a piece of tools for one upcoming project. The price to acquisition is $10,000 add to $100 every day to operate or $500 per day to lease (including operating costs). If the firm anticipates utilizing the tools for a complete of 20 days, they will be indifferent as to whether or lease or acquisition it.


T/F: contents of the procurement management plan vary with project needs.


T/F: The main sections of one RFP can encompass the statement of work and schedule information.


T/F: A key factor in analyzing bids, specifically for projects involving details technology, is the past performance record of the bidder.


T/F: Reviewing performance documents reduces the risk of choosing a supplier v a poor track record.


T/F: In job procurement management, a key output that the controlling process is a source selection criteria.


T/F: The contractual relationship is a legal relationship, which means it is topic to state and federal contract laws.


T/F: The closing procurements process involves updating documents to reflect final results and archiving details for future use.


T/F: Procurement audits are frequently done during contract closure to recognize lessons learned in the entire procurement process.


"A shortage the qualified personnel is among the main reason that carriers outsource. A project might require experts in a certain field for numerous months and also planning for this procurement ensures that the essential services will certainly be obtainable for the project." i beg your pardon of the complying with benefits go this characteristic of outsourcing administer an organization?

Provides accessibility to certain skills

Outsourcing suppliers deserve to often administer economies of scale, specifically for hardware and also software, that might not be easily accessible to the customer alone. I m sorry of the complying with benefits does this market an organization?

Reduction in fixed and also recurrent costs

"Most organizations are no in company to provide information technology services, yet plenty of have spent beneficial time and resources on information technology functions when they should have instead functioned on crucial competencies such as marketing, client service, and brand-new product design. Outsourcing helps tackle this problem." i beg your pardon of the complying with benefits go outsourcing primarily provide in together a scenario?

Helps focus on one organization’s core business

"Outsourcing to provide extra workers throughout periods of optimal workloads can be much an ext economical than trying come fill entire projects with inner resources." i beg your pardon of the following advantages does this characteristic of outsourcing administer organizations?

Provides a agency flexibility in staffing

A border of outsourcing is that:

it have the right to make an organization end up being overly dependency on specific suppliers.

The an initial step in project procurement monitoring is:

planning procurement management

In task procurement management, the procedure of _____ entails determining what come procure, when, and also how

planning procurement management

In task procurement management, the procedure of _____ requires obtaining seller responses, picking sellers, and awarding contracts.

conducting procurements

Outputs of the _____ process consist that selected sellers and source calendars.

conducting procurements

Which of the complying with processes of job procurement monitoring involves managing relationships with sellers, monitoring contract performance, and making alters as needed?

Controlling procurements

In project procurement management, which of the complying with processes involve completion and settlement of each contract, including resolution of any kind of open items?

Closing procurements

The procurement statements of work are an calculation of the _____ procedure of project procurement management.


In job procurement management, the procedure of conducting procurements is part of the _____ process.


In job procurement management, i beg your pardon of the complying with is an calculation of the executing process?

resource calendars

In task procurement management, an calculation of the _____ monitoring and controlling process.

change requests

Which that the complying with is true of lump-sum contracts?

They indicate a fixed total price because that a well-defined product or service.

_____ contracts involve payment come the supplier for direct and indirect actual costs and also often encompass fees.

Cost-reimbursable contracts

In a(n) _____ contract, the the person who lives pays the supplier for allowable power costs in addition to a predetermined fee and also an inspiration bonus.


With a(n) _____ contract, the the person who lives pays the supplier because that allowable performance prices plus a solved fee payment usually based on a percent of approximated costs.


In i beg your pardon of the adhering to contracts walk the buyer pay the supplier because that allowable performance costs together with a predetermined percentage based upon total costs?


From the buyer’s perspective, the _____ is the the very least desirable amongst all contracts because the supplier has actually no motivation to diminish costs.


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


The _____ is a description of the work compelled for a procurement.


A(n) _____ is a document used to solicit proposals from prospective suppliers.


A document used come solicit estimates or bids from prospective companies is recognized as a(n) _____.


After planning because that procurement management, i beg your pardon of the following does the next process involve?

Sending proper documentation come potential sellers

In project procurement management, which of the complying with is among the main outputs of the conducting procurement process?

a selected seller

The process of selecting suppliers or sellers is recognized as _____.

source selection

Which of the following is an calculation of the contract closure process?

Updates come organizational process assets

_____ refers to the process of obtaining goods and/or solutions from an exterior source.


A(n) _____ is a support binding agreement that obligates the seller to administer the specified commodities or services and obligates the buyer to pay because that them.


_____ management consists of the processes forced to acquire goods and also services for a task from exterior the performing organization.

Project procurement

Procurement declaration of work are an calculation of the _____ process.

planning procurement management

A(n) _____ decision is one in which an organization decides if it is in its finest interests to make certain products or perform details services within the organization, or if it is much better to purchase them indigenous an external organization.


A(n) _____ contract has the the very least amount of hazard for the buyer.

firm-fixed-price (FFP)

A(n) _____ contract consists of a one-of-a-kind provision for predefined last adjustments come the contract price early to transforms in conditions such together inflation.

fixed-price with economic price convey (FP-EPA)

The cost at i m sorry the contractor assumes complete responsibility because that each added dollar the contract price is known as a(n) _____.

point the total presumption (PTA)

Three species of cost-reimbursable contracts include cost plus motivation fee, expense plus solved fee, and _____.

cost plus percent of costs

_____ contracts space a hybrid that fixed-price and also cost-reimbursable contracts.

Time and material (T&M)

A(n) _____ is a contract clause that enables the buyer or providers to finish the contract.

termination clause

If an SOW is supplied as component of a contract to define only the work compelled for that details contract, the is referred to as a(n) _____.

contract declare of work

A contract statement of occupational is a kind of _____ statement that describes the work-related in sufficient detail to enable prospective suppliers to recognize if lock can carry out the forced goods and services and to identify an suitable price.


A(n) _____ is a record prepared through a seller as soon as there are different approaches for meeting buyer needs.


A(n) _____ is likewise known as a soft or quote, quick for quotation.


All procurement documents should it is in in _____ type in order to facilitate accurate and complete responses from prospective sellers.


A(n)_____ conference help ensure the everyone has actually a clear, typical understanding that the buyer’s desired products or services.


The process of source an option involves examining proposals from sellers, choosing the best one, negotiating, and also awarding the _____.


_____ are oral or created acts or failure by someone v actual or evident authority that deserve to be understood to have actually the same impact as a written adjust order.

Constructive change orders

In procurement management, evaluation of any adjust should incorporate a(n) _____ analysis.


The final process in task procurement management is _____.

closing procurements

Tools used in contract closure include procurement audits, _____, and also a records administration system.

negotiated settlements

A(n) _____ system gives the capability to easily organize, find, and archive procurement-related documents.

records management

A(n) _____ kind of e-procurement that sends requests for information and also prices to suppliers and receives the an answer of suppliers using internet technology.

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A(n) _____ type of e-procurement that Identifies new suppliers because that a details category of purchasing requirements using web technology.