PROJ 410 Midterm Exam

1. (TCO 2) A firm should
concentrate on its _____ processes while outsourcing its _____ processes.

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

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

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) The Term, Contracting
Party, Integration, Retained Assets, and Performance Standards are all:
_______.

6. (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.

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

8. (TCO 7) For most customers,
requesting multiple bids is the preferred approach because it: _______.

9. (TCO 7) Describe the common
sections of the 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) Evaluate the most
common business drivers for outsourcing business processes. Which two drivers
would be among the most important?

13. (TCO 1) List and describe the
directives to consider the process of outsourcing if you are a senior manager.PROJ 410 Midterm Exam1. (TCO 2) A firm should
concentrate on its _____ processes while outsourcing its _____ processes.2. (TCO 3) What activities is the
contract administrator responsible for in a contract situation? What about the
project manager?3. (TCO 4) What is the difference
between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF)
contract structures?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) The Term, Contracting
Party, Integration, Retained Assets, and Performance Standards are all:
_______.6. (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.7. (TCO 8) What is an independent
estimate and why should a buyer produce an independent estimate before
selecting a seller?8. (TCO 7) For most customers,
requesting multiple bids is the preferred approach because it: _______.9. (TCO 7) Describe the common
sections of the 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) Evaluate the most
common business drivers for outsourcing business processes. Which two drivers
would be among the most important?13. (TCO 1) List and describe the
directives to consider the process of outsourcing if you are a senior manager.