PROJ 410 Midterm Exam Answers
PROJ 410 Midterm Exam 2
1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes.
2. (TCO 3) Explain the difference between a contract administrator and a project manager in a procurement situation.
3. (TCO 4) What is the difference between the Cost-Plus-Percentage-Fee (CPF) contract structure and the Cost-Plus-Fixed-Fee (CPFF) contract structure?
4. (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: ______.
5. (TCO 6) Factors that may affect the BPO agreement structure include all of the following except: ______.
6. (TCO 6) Three commonly used evaluation criteria listed in an RFP are overall cost or financial proposal, reputation, and experience. What can the buyer glean from this information and how can the buyer use it to make a decision on a particular seller?
7. (TCO 7) All of the following are common RFP topics, except: ______.
8. (TCO 7) Explain the purpose of an RFP. What are some common elements of an RFP?
9. (TCO 8) What are the two ways to rank the seller's proposals before selecting a seller?
10. (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?
11. (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?
12. (TCO 3) Identify and describe the benefits that procurement outsourcing will bring to the organization.
13. (TCO 1) Discuss the importance of obtaining support for the process of Business Process Outsourcing. Who would be important to involve and why?