Keller Graduate School of Management PROJ 598 Final Exam 2014

Week 8 : Final Week - Final Exam
Question 1.1. (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.

Question 2.2. (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.

Question 3.3. (TCO A) Why are the project schedule and the project budget inputs of plan procurement? (Points : 8) Question 4.4. (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)
Question 5.5. (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)

Question 6.6. (TCO D) Describe the typical work relationship between a project manager and a contract manager. (Points : 12)
Question 7.7. (TCO E) You are writing a procurement SOW for an RFP. What items are you likely to include in this SOW? (Points : 12)
Question 8.8. (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)

Question 9.9. (TCO G) What are the five ways that a contract can end? Please provide an example of each. (Points : 12)
Question 1.1. (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) Question 2.2. (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)

Question 3.3. (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)

Question 4.4. (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)

Question 5.5. (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)

Question 6.6. (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)

Question 7.7. (TCO F) Describe a memorandum of understanding and letter of intent. (Points : 20)

Question 8.8. (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)