PROJ410 Contracts and Procurement Course Week 2 Quiz_A+Perfect Answer

PROJ410 Contracts and Procurement Course Week 2 Quiz_A+Perfect Answer

 

1. Question : (TCO 4) Business processes that are typically outsourced include all of the following, except: _______.

2. Question : (TCO 1) A cost-plus-percentage-fee contract is a: _______.

3. Question : (TCO 2) One difference between the project manager and contract manager is: ______.

4. Question : (TCO 3) In the project procurement process, during plan contracting, : ______.

5. Question : (TCO 4) In the Week 2 You Decide simulation, the grocer did not want to bear any of the cost risk. Which contracting structure works best when the buyer wants to transfer the cost risk to the seller?

6. Question : (TCO 1) In the Week 2 You Decide simulation, you write in your scope of work that you’ll need some scanning equipment. However, the quantity of equipment is unknown until the seller begins to write the automated IT scanning software. One contracting pricing structure approach that you could take is to: ______.

7. Question : (TCO 4) In the Week 2 You Decide simulation, the seller has a well-defined scope at the outset of the project. If the scope changes in the middle of the project to include integrating the scanning software with the payroll software, what types of contracting issues might arise?

8. Question : (TCO 2) Senior management typically has different reasons for issuing the directive to outsource than management responsible for the business process. Senior management typically decides to evaluate outsourcing because: ______.

9. Question : (TCO 1) Communicating that outsourcing a business process is eminent to the employees is very important. Describe three approaches that can be taken and discuss the pros and cons of one of them.

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Set 2 Answer

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Set 2 Answer
1. (TCO 1) A cost-plus-percentage-fee contract is a: _______. (Points : 5)
cost-reimbursable contract, the seller pays the buyer’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and all of the total project costs
cost-reimbursable contract, the buyer pays the seller’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and none of the total project costs

2. (TCO 2) The difference between the project manager and contract administrator is: ______.

(Points : 5)
the project manager is responsible for the project-related coordination, while the contract manager is responsible for administering the contract
the contract administrator has the authority to make all contract-related decisions, like approving a change order. The project manager does not have this level of authority.
the project manager is responsible for the administering of the contract, while the contract manager is responsible for project-related coordination.
the project manager has the authority to make all contract-related decisions, like approving a change order. The contract administrator does not have this level of authority.

3. (TCO 3) Which is a key component in the project procurement management process? (Points : 5)
RFI Request for Issue
RFP Request for Proposal
RFB Request for Buy
RFC Request for Contract
4. (TCO 2) Senior management typically has different reasons for issuing the directive to outsource than management responsible for the business process. Senior management typically decides to evaluate outsourcing because: ______. (Points : 5)
there is a means to focus more resources on business process strategy
there is a means to focus less resources on business process strategy
there is an effort to decrease performance
there is an organization-wide directive to downsize or cut costs
5. (TCO ) When notifying third parties in a transition plan, who would not need to be notified? (Points : 5)
Third-party vendors
Government or regulatory authorities
Customer’s competitors
Customer’s clients
6. (TCO ) In International contracts, which industry-specific question does not need to be asked? (Points : 5)
Which country’s standards are used?
What regulatory authorities are called into question?
What regulations are specific to the business process operations?
What notice requirements or approvals are needed before and after a contract signing?

7. If a contract is seen through its full term, list two items that should be completed as part of contract close-out? What is a close out manager? Why is deliverable acceptance documents so important?

8. (TCO 8) What are the two ways to rank the seller’s proposals before selecting a seller? (Points : 12)
9. (TCO 6) Sometimes, a seller is selected based solely on lowest price. However, sometimes this is not always the most efficient or effective way of selecting a seller. What are some of the other evaluation criteria that a buyer may use to help select a seller? (Points : 12)
10. What are some of the common techniques used for establishing service levels?

Page 2.
1. (TCO ) What is benchmarking? Please support your answer. Defend the cost of benchmarking in an industry. (Points : 30)

The general objective of a benchmarking provision is to provide a mechanism by which the parties periodically compare the services being provided and/or prices being charged against similar services being provided and/or prices being charged to a specified customer or industry group. Although the effectiveness of benchmarking provisions is debatable, most customers feel that the inclusion of such a provision will at a minimum give the customer some leverage if the pricing, methodologies, technology, or service levels are significantly different from market standards. Vendors typically resist the inclusion of benchmarking provisions on the grounds that the comparative data are easily manipulated and the results are difficult to interpret.
The potential costs of performing the benchmark may be expensive. The parties will need to discuss how the costs of the internal or third-party resources used to perform the benchmarking are to be allocated. Cost allocation schemes may include:
•The vendor builds the cost of third-party or internal resources into its price.
•The vendor charges the customer on a pass-through basis for the cost of the third-party benchmarker.
•The vendor and the customer share the cost of the third-party benchmarker.
•The vendor absorbs the cost of the benchmarker if it reveals that the vendor’s prices, methodologies, technology, or services are not in line with industry standards.
2. (TCO ) What happens when there is a failure in an SLA? Use an example to analyze a failure in an SLA and how important SLAs are to the buyer in a BPO contract agreement. (Points : 30)

3. (TCO ) What are the elements of a Request for Proposal (RFP)? Please list and discuss five of the elements. (Points : 10)

4. (TCO ) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)

5. (TCO ) List and describe five components of a BPO. Then summarize why each of the items that you chose are important to the BPO process. (Points : 30)

The key components in the BPO process are:

Plan Purchases and Acquisitions stage – This phase starts at the beginning of the project which involves make or buy analysis. At the end of this phase, the project team will have a documented project procurement plan.

Plan contracting – The documented project procurement plan will enter into implementation process here. The project team will prepare the solicitation document called ‘Request For Proposal’ (RFP).

Proposal Solicitation – After acquiring the RFP document from the previous phase, this phase will request for proposals from the suppliers.

Source Selection – The project team will receive a lot of proposals from various sellers. After analysing all the proposals, they will select the best supplier who suits for the project and award the contract.

Contract Administration – In this phase, both the contracted parties have to ensure that they meet their respective contract obligations and at the same time both of their interests are protected legally. The process also reviews and documents the suppliers performance in accordance to the contract and establishes corrective actions if any.

Each of the above items or the components are importnat because they determine the BPO process success and assures that the right vendor is selected as part of the BPO outsourcing. This also makes sure that due diligence has been followed at each of the stage so that there are no roadblocks in the actual execution of the project.
6. What does the outsourcing of the HR function involve? What are pros and cons of HR Outsourcing? What do you think are three critical considerations that you must include in the implementation plan for this outsourcing transition?

PROJ 410 Contract and Procurement_Selecting the Supplier_Mid Term Exam_All Questions_answers

PROJ 410 Contract and Procurement_Selecting the Supplier_Mid Term Exam_All Questions_answers

Week 4 : Selecting the Supplier – Midterm

Page 1
1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. (Points : 5)
overhead, core
core, non-core
non-core, overhead
non-core, core
2. (TCO 5) To assess the impact of a contract on both the buyer and seller, an analysis of exposure can be completed. Categories analyzed in this exposure analysis include all of the following except: ______. (Points : 5)
terms with no quantifiable impact
key contract terms
significant contract terms
informational terms from the RFP
3. (TCO 7) For most customers, requesting multiple bids is the preferred approach because it: _______. (Points : 5)
adds to the project legitimacy
may lead to competitive pricing or service levels
enables the customer to use the possibility of other interested vendors as a negotiating tool
all of the above
4. (TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______. (Points : 5)
key terms to the Contract Pricing Options
key terms in a Cost Proposal
key terms in a Request for Information
key terms in the BPO Agreement

5. (TCO 3) What activities is the contract administrator responsible for in a contract situation? What about the project manager? (Points : 12)
6. (TCO 4) What is the difference between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF) contract structures? (Points : 12)
7. (TCO 6) List three commonly used evaluation criteria listed in an RFP and explain why a buyer would want this information before selecting a seller. (Points : 12)
8. (TCO 8) What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller? (Points : 12)
9. (TCO 7) Describe the common sections of the RFP. (Points : 12)

Week 4 : Selecting the Supplier – Midterm

Page 2

1. (TCO 2) Part 1: List and define the six phases of the project procurement management process. Part 2: How could you organize a simple project such as renovating a bathroom into the six steps in the project procurement management process? Part 3: The buyer determines the contract pricing structure during which step of the project procurement process? (Points : 30)
2. (TCO 1) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)

3. (TCO 3) Evaluate the most common business drivers for outsourcing business processes. Which two drivers would be among the most important? (Points : 30)
4. (TCO 1) List and describe the directives to consider the process of outsourcing if you are a senior manager. (Points : 30)

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_A+Answer

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_A+Answer

Week 8 : Wk8 – Final Exam
Page 1
1. (TCO 1 & 4) What would facilitate a business process outsourcing transition quickly and maintain some consistency in the organization? (Points : 5)
allow the outsourced firm autonomy to create its own policies and procedures with no regard for the project’s goals
quickly lay off all employees
retain key employees through transition
sidestep the RFP process because it takes too long

2. (TCO 4) Under this pricing contract, the buyer pays the seller’s actual costs and a fixed fee determined as a percentage of the estimated project costs. (Points : 5)
CPFF
CPF
CBF
CPIF

3. (TCO 7) Which step(s) should a buyer take to evaluate the seller’s proposal? (Points : 5)
Establish a scoring system
Weigh each evaluation criterion
Select key evaluation criteria
All of the above

4. (TCO 5) Negotiations in a BPO agreement are largely determined by which factor? (Points : 5)
The underlying objectives of each of the parties
The scope of services being outsourced
The relative bargaining positions of the parties
All of the above are factors that determine negotiations

5. (TCO 6) Employee morale and expectations, buyer’s precedent, service level desired by the buyer, and the efficient delivery of services by the seller are all _____. (Points : 5)
reasons affecting the human resource transfer decision
reasons to outsource human resources
reasons to maintain the business process in-house
reasons to exclude offshoring contractors from bidding on an RFP

6. (TCO 3) Which is not a key component in the project procurement management process? (Points : 5)
Select sellers
Plan contracting
Request for proposal
Plan purchases and acquisitions

7. (TCO 6) What are some steps to take when communicating with employees that outsourcing will take place in the company? (Points : 10)
8. (TCO 2 & 6) What typically gets outsourced and what would be the benefits to outsourcing the items listed? Please list and discuss six reasons. (Points : 10)
9. (TCO 9) What happens after a renegotiation? Why does this happen? (Points : 10)
10. (TCO 8 & 9) What is benchmarking? Give two examples with which you are familiar, and tell why benchmarking is useful in outsourcing. (Points : 10)

Page 2

1. (TCO 8) What is a performance standard and how is this agreed upon? Recommend the components that would need to be included and why. (Points : 30)
2. (TCO 5) What laws should an organization consult before, during, and after a BPO? Describe two of the laws and how you would include this in a presentation to executives. (Points : 30)

3. (TCO 5 & 7) List and describe five components of a BPO. Then summarize why each of the items that you chose are important to the BPO process. (Points : 30)

4. (TCO 2 & 5) Describe in detail how the negotiation process works when this process is done correctly. Then convince the executive team that the legal team has to be represented in the negotiation process. (Points : 30)

5. (TCO 8 & 10) What is early termination? Give an example and then discuss how can this be avoided or minimized. Persuade the legal team that the verbiage to accomplish this needs to be included in the BPO agreement. (Points : 30)

6. (TCO 5 & 6) What are some considerations when a company will be transferring employees to the outsourcer? Anticipate issues that will be brought up by the employees and the responses that the company will provide. (Points : 30)

PROJ 410 Contract and Procurement_Week 4_Mid Term Exam_All Questions_answers_A+_Detailed Out

PROJ 410 Contract and Procurement_Week 4_Mid Term Exam_All Questions_answers_A+_Detailed Out

Week 4 : Selecting the Supplier – Midterm

Page 1
1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. (Points : 5)
overhead, core
core, non-core
non-core, overhead
non-core, core
2. (TCO 5) To assess the impact of a contract on both the buyer and seller, an analysis of exposure can be completed. Categories analyzed in this exposure analysis include all of the following except: ______. (Points : 5)
terms with no quantifiable impact
key contract terms
significant contract terms
informational terms from the RFP
3. (TCO 7) For most customers, requesting multiple bids is the preferred approach because it: _______. (Points : 5)
adds to the project legitimacy
may lead to competitive pricing or service levels
enables the customer to use the possibility of other interested vendors as a negotiating tool
all of the above
4. (TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______. (Points : 5)
key terms to the Contract Pricing Options
key terms in a Cost Proposal
key terms in a Request for Information
key terms in the BPO Agreement

5. (TCO 3) What activities is the contract administrator responsible for in a contract situation? What about the project manager? (Points : 12)
6. (TCO 4) What is the difference between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF) contract structures? (Points : 12)
7. (TCO 6) List three commonly used evaluation criteria listed in an RFP and explain why a buyer would want this information before selecting a seller. (Points : 12)
8. (TCO 8) What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller? (Points : 12)
9. (TCO 7) Describe the common sections of the RFP. (Points : 12)

Week 4 : Selecting the Supplier – Midterm

Page 2
1. (TCO 2) Part 1: List and define the six phases of the project procurement management process. Part 2: How could you organize a simple project such as renovating a bathroom into the six steps in the project procurement management process? Part 3: The buyer determines the contract pricing structure during which step of the project procurement process? (Points : 30)
2. (TCO 1) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)

3. (TCO 3) Evaluate the most common business drivers for outsourcing business processes. Which two drivers would be among the most important? (Points : 30)
4. (TCO 1) List and describe the directives to consider the process of outsourcing if you are a senior manager. (Points : 30)

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Set 2 Answer

PROJ 410 Contract and Procurement_Final Term Exam_All Questions_answers_Set 2 Answer

1. (TCO 1) A cost-plus-percentage-fee contract is a: _______. (Points : 5)
cost-reimbursable contract, the seller pays the buyer’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and all of the total project costs
cost-reimbursable contract, the buyer pays the seller’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and none of the total project costs

2. (TCO 2) The difference between the project manager and contract administrator is: ______.

(Points : 5)

the project manager is responsible for the project-related coordination, while the contract manager is responsible for administering the contract
the contract administrator has the authority to make all contract-related decisions, like approving a change order. The project manager does not have this level of authority.
the project manager is responsible for the administering of the contract, while the contract manager is responsible for project-related coordination.
the project manager has the authority to make all contract-related decisions, like approving a change order. The contract administrator does not have this level of authority.

3. (TCO 3) Which is a key component in the project procurement management process? (Points : 5)
RFI Request for Issue
RFP Request for Proposal
RFB Request for Buy
RFC Request for Contract

4. (TCO 2) Senior management typically has different reasons for issuing the directive to outsource than management responsible for the business process. Senior management typically decides to evaluate outsourcing because: ______. (Points : 5)
there is a means to focus more resources on business process strategy
there is a means to focus less resources on business process strategy
there is an effort to decrease performance
there is an organization-wide directive to downsize or cut costs

5. (TCO ) When notifying third parties in a transition plan, who would not need to be notified? (Points : 5)

Third-party vendors

Government or regulatory authorities

Customer’s competitors

Customer’s clients

6. (TCO ) In International contracts, which industry-specific question does not need to be asked? (Points : 5)

Which country’s standards are used?

What regulatory authorities are called into question?

What regulations are specific to the business process operations?

What notice requirements or approvals are needed before and after a contract signing?

If a contract is seen through its full term, list two items that should be completed as part of contract close-out? What is a close out manager? Why is deliverable acceptance documents so important?

(TCO 8) What are the two ways to rank the seller’s proposals before selecting a seller? (Points : 12)

(TCO 6) Sometimes, a seller is selected based solely on lowest price. However, sometimes this is not always the most efficient or effective way of selecting a seller. What are some of the other evaluation criteria that a buyer may use to help select a seller? (Points : 12)
What are some of the common techniques used for establishing service levels?
Page 2.

(TCO ) What is benchmarking? Please support your answer. Defend the cost of benchmarking in an industry. (Points : 30)

(TCO ) What happens when there is a failure in an SLA? Use an example to analyze a failure in an SLA and how important SLAs are to the buyer in a BPO contract agreement. (Points : 30)
(TCO ) What are the elements of a Request for Proposal (RFP)? Please list and discuss five of the elements. (Points : 10)
(TCO ) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)
(TCO ) List and describe five components of a BPO. Then summarize why each of the items that you chose are important to the BPO process. (Points : 30)
What does the outsourcing of the HR function involve? What are pros and cons of HR Outsourcing? What do you think are three critical considerations that you must include in the implementation plan for this outsourcing transition?

PROJ 410 Contract and Procurement_Selecting the Supplier_Mid Term Exam_All Questions_answers

 

PROJ 410 Contract and Procurement_Selecting the Supplier_Mid Term Exam_All Questions_answers

Week 4 : Selecting the Supplier – Midterm

Page 1
1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. (Points : 5)
overhead, core
core, non-core
non-core, overhead
non-core, core

 
2. (TCO 5) To assess the impact of a contract on both the buyer and seller, an analysis of exposure can be completed. Categories analyzed in this exposure analysis include all of the following except: ______. (Points : 5)
terms with no quantifiable impact
key contract terms
significant contract terms
informational terms from the RFP’

 
3. (TCO 7) For most customers, requesting multiple bids is the preferred approach because it: _______. (Points : 5)
adds to the project legitimacy
may lead to competitive pricing or service levels
enables the customer to use the possibility of other interested vendors as a negotiating tool
all of the above

 
4. (TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______. (Points : 5)
key terms to the Contract Pricing Options
key terms in a Cost Proposal
key terms in a Request for Information
key terms in the BPO Agreement

 

 

5. (TCO 3) What activities is the contract administrator responsible for in a contract situation? What about the project manager? (Points : 12)

 
6. (TCO 4) What is the difference between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF) contract structures? (Points : 12)

 
7. (TCO 6) List three commonly used evaluation criteria listed in an RFP and explain why a buyer would want this information before selecting a seller. (Points : 12)

 
8. (TCO 8) What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller? (Points : 12)

 
9. (TCO 7) Describe the common sections of the RFP. (Points : 12)

 

Week 4 : Selecting the Supplier – Midterm

Page 2

1. (TCO 2) Part 1: List and define the six phases of the project procurement management process. Part 2: How could you organize a simple project such as renovating a bathroom into the six steps in the project procurement management process? Part 3: The buyer determines the contract pricing structure during which step of the project procurement process? (Points : 30)

 
2. (TCO 1) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)

 

 

3. (TCO 3) Evaluate the most common business drivers for outsourcing business processes. Which two drivers would be among the most important? (Points : 30)

 
4. (TCO 1) List and describe the directives to consider the process of outsourcing if you are a senior manager. (Points : 30)