PROJ 410 Contracts and Procurement

PROJ 410 Contracts and Procurement

Week 4 Midterm Exam

Midterm Set 1

1. (TCO 2) An offshoot of business process outsourcing which requires a greater skill or knowledge of the industry or inner workings of a firm is:
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:
3. (TCO 7) Issuing an RFP to only one vendor may be appropriate when:
4. (TCO 6) Factors that may affect the BPO agreement structure include all of the following except:
5. (TCO 3) How are the procurement responsibilities divided between the project manager and contract administrator?
6. (TCO 4) What is the difference between the Cost-Plus-Percentage-Fee (CPF) contract structure and the Cost-Plus-Fixed-Fee (CPFF) contract structure?
7. (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?
8. (TCO 8) What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller?
9. (TCO 7) Explain the purpose of an RFP.  What are some common elements of an RFP?
10. (TCO 2) Part 1: Explain the various steps of the project procurement process.  Part 2: Using the simple decision of packing and moving your home furnishing from the east coast to the west coast, provide an example of what you would do under each of the six steps of the project procurement process.  Part 3: The buyer determines the contract pricing structure during which step of the project procurement process?
11. (TCO 1) Part 1: What are the four contract pricing structures available?  Part 2: Describe the appropriate utilization of each and the impact of risk to the buyer and seller.  Part 3. What contract pricing structure would you use if you had little to no scope defined?

Midterm Set 2 

1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes.
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: ______.
3. (TCO 7) All of the following are common RFP topics, except: ______.
4. (TCO 6) Factors that may affect the BPO agreement structure include all of the following except: ______.
5. (TCO 3) Explain the difference between a contract administrator and a project manager in a procurement situation.
6. (TCO 4) What is the difference between the Cost-Plus-Percentage-Fee (CPF) contract structure and the Cost-Plus-Fixed-Fee (CPFF) contract structure?
7. (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?
8. (TCO 8) What are the two ways to rank the seller’s proposals before selecting a seller?
9. (TCO 7) Explain the purpose of an RFP. What are some common elements of an RFP?
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?

Midterm Set 3

1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. (Points : 5)
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)
3. (TCO 7) For most customers, requesting multiple bids is the preferred approach because it: _______. (Points : 5)
4. (TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______. (Points : 5)
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)
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? (Points : 30)
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? (Points : 30)
12. (TCO 3) Evaluate the most common business drivers for outsourcing business processes. Which two drivers would be among the most important? (Points : 30)
13. (TCO 1) List and describe the directives to consider the process of outsourcing if you are a senior manager. (Points : 30)

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