T/F: Suppliers are those organizations or individuals who administer procurement solutions.

You are watching: Suppliers are those organizations or individuals who provide procurement services.

True

T/F: While outsourcing, establishments should protect strategic information because it have the right to end up being delicate in the hands of suppliers.

True

T/F: Project procurement administration consists mainly of 2 processes: assessing procurements and also regulating procurements.

False

T/F: If an organization has actually no have to buy any kind of products or solutions from exterior the company, then it has no have to perform any kind of of the procurement monitoring procedures.

True

T/F: Risk registers and stakeholder registers are outputs of the planning procurement procedure.

False

T/F: A single contract have the right to encompass all 3 categories of contracts.

True

T/F: Indirect expenses are those prices have the right to be traced ago to a project in a cost-efficient means.

False

T/F: Buyers absorb lesser risk through cost-reimbursable contracts than they carry out via fixed-price contracts.

False

T/F: The fee in a CPFF contract constantly varies even when the scope of a contract continues to be the very same.

False

T/F: In unit pricing, the full worth of the contract is a function of the quantities needed to finish the work-related.

True

T/F: All contracts have to encompass certain claprovides that take into account issues distinctive to the project.

True

T/F: In an FPI contract, all of the danger is borne by the buyer.

False

T/F: An FP-EPA contract carries the least risk for a supplier.

False

T/F: Make-or-buy analysis requires comparing the inner costs of giving a product with the cost of outsourcing.

True

T/F: A company is considering whether to purchase or lease a item of devices for an upcoming project. The price to purchase is $10,000 plus $100 per day to run or $500 per day to lease (including operating costs). If the company anticipates using the devices for a total of 20 days, they will be invarious regarding whether or lease or purchase it.

False

T/F: Materials of the procurement management setup vary with job demands.

True

T/F: The primary sections of an RFP deserve to include the statement of work-related and also schedule indevelopment.

True

T/F: A vital aspect in evaluating bids, specifically for tasks involving information modern technology, is the past performance record of the bidder.

True

T/F: Reviewing performance documents reduces the risk of picking a supplier through a poor track record.

True

T/F: In project procurement administration, a major output of the controlling procedure is a source selection criteria.

False

T/F: The contractual relationship is a legal relationship, which suggests it is topic to state and federal contract legislations.

True

T/F: The cshedding procurements procedure requires updating documents to reflect final results and archiving indevelopment for future use.

True

T/F: Procurement audits are frequently done in the time of contract closure to determine lessons learned in the whole procurement procedure.

True

"A shortage of qualified personnel is just one of the major reason that providers outresource. A task may need professionals in a certain field for a number of months and planning for this procurement ensures that the needed solutions will be available for the task." Which of the complying with benefits does this characteristic of outsourcing carry out an organization?

Provides accessibility to particular skills

Outsourcing suppliers have the right to frequently carry out economic situations of range, especially for hardware and also software, that may not be accessible to the client alone. Which of the complying with benefits does this market an organization?

Reduction in resolved and also reexisting costs

"Most organizations are not in service to administer information technology services, yet many kind of have spent helpful time and also resources on indevelopment modern technology attributes as soon as they must have actually instead worked on essential competencies such as marketing, customer business, and also new product architecture. Outsourcing helps tackle this problem." Which of the following benefits does outsourcing primarily administer in such a scenario?

Helps focus on an organization’s core business

"Outsourcing to administer additional employees in the time of durations of height worklots have the right to be much more economical than trying to fill whole tasks with interior sources." Which of the following benefits does this characteristic of outsourcing carry out organizations?

Provides a agency flexibility in staffing

A drawago of outsourcing is that:

it can make an company come to be overly dependent on certain service providers.

The first step in project procurement administration is:

planning procurement management

In task procurement monitoring, the process of _____ involves determining what to procure, when, and how

planning procurement management

In job procurement monitoring, the process of _____ requires obtaining seller responses, picking sellers, and also awarding contracts.

conducting procurements

Outputs of the _____ procedure consist of selected sellers and reresource calendars.

conducting procurements

Which of the complying with procedures of task procurement monitoring involves managing relationships through sellers, surveillance contract performance, and also making changes as needed?

Controlling procurements

In project procurement management, which of the adhering to processes involve completion and negotiation of each contract, including resolution of any type of open items?

Closing procurements

The procurement statements of work are an output of the _____ process of project procurement administration.

planning

In task procurement monitoring, the procedure of conducting procurements is part of the _____ procedure.

executing

In job procurement administration, which of the following is an output of the executing process?

resource calendars

In task procurement monitoring, an output of the _____ surveillance and also regulating process.

adjust requests

Which of the adhering to is true of lump-sum contracts?

They involve a resolved complete price for a well-identified product or service.

_____ contracts involve payment to the supplier for direct and also instraight actual prices and regularly include fees.

Cost-reimbursable contracts

In a(n) _____ contract, the buyer pays the supplier for allowable performance costs together with a preidentified fee and also an incentive bonus.

CPIF

With a(n) _____ contract, the buyer pays the supplier for allowable performance costs plus a addressed fee payment normally based upon a portion of approximated expenses.

CPFF

In which of the adhering to contracts does the buyer pay the supplier for allowable performance costs in addition to a predetermined percentage based on full costs?

CPPC

From the buyer’s perspective, the _____ is the least desirable among all contracts because the supplier has no impetus to decrease costs.

CPPC

A(n) _____ contract carries the least threat for service providers.

CPPC

The _____ is a summary of the occupational required for a procurement.

SOW

A(n) _____ is a paper used to solicit proposals from prospective companies.

RFP

A record used to solicit quotes or bids from prospective providers is known as a(n) _____.

RFQ

After planning for procurement monitoring, which of the complying with does the next procedure involve?

Sending proper documentation to potential sellers

In project procurement monitoring, which of the following is among the primary outputs of the conducting procurement process?

a selected seller

The procedure of choosing suppliers or sellers is recognized as _____.

source selection

Which of the adhering to is an output of the contract clocertain process?

Updates to organizational procedure assets

_____ describes the procedure of acquiring goods and/or services from an external resource.

Procurement

A(n) _____ is a mutually binding agreement that obligates the seller to provide the specified commodities or solutions and obligates the buyer to pay for them.

contract

_____ monitoring has the procedures forced to gain goods and also services for a project from outside the perdeveloping organization.

Project procurement

Procurement statements of work-related are an output of the _____ process.

planning procurement management

A(n) _____ decision is one in which an organization decides if it is in its best interests to make certain commodities or perdevelop specific solutions inside the company, or if it is much better to buy them from an external organization.

make-or-buy

A(n) _____ contract has actually the leastern amount of danger for the buyer.

firm-fixed-price (FFP)

A(n) _____ contract has a distinct provision for precharacterized last adjustments to the contract price because of changes in problems such as inflation.

fixed-price via economic price adjustment (FP-EPA)

The price at which the contractor assumes complete duty for each added dollar of contract price is well-known as a(n) _____.

allude of full presumption (PTA)

Three types of cost-reimbursable contracts include cost plus inspiration fee, price plus fixed fee, and also _____.

price plus percentage of costs

_____ contracts are a hybrid of fixed-price and cost-reimbursable contracts.

Time and product (T&M)

A(n) _____ is a contract clausage that allows the buyer or supplier to finish the contract.

termination clause

If an SOW is offered as component of a contract to explain only the job-related forced for that certain contract, it is called a(n) _____.

contract statement of work

A contract statement of work is a type of _____ statement that explains the job-related in enough information to enable prospective suppliers to determine if they have the right to provide the compelled goods and also solutions and to determine an correct price.

scope

A(n) _____ is a paper all set by a seller when there are various approaches for meeting buyer needs.

proposal

A(n) _____ is also known as a tender or quote, brief for quotation.

bid

All procurement records have to be in _____ create in order to facilitate specific and also complete responses from prospective sellers.

written

A(n)_____ conference helps encertain that everyone has actually a clear, prevalent expertise of the buyer’s desired products or services.

bidders’

The procedure of source selection entails evaluating proposals from sellers, picking the best one, negotiating, and awarding the _____.

contract

_____ are oral or written acts or omissions by someone with actual or obvious authority that deserve to be understood to have actually the very same effect as a created readjust order.

Constructive readjust orders

In procurement management, review of any type of adjust should encompass a(n) _____ analysis.

impact

The final process in task procurement administration is _____.

cshedding procurements

Tools supplied in contract clocertain incorporate procurement audits, _____, and also a documents management mechanism.

negotiated settlements

A(n) _____ system gives the capacity to quickly organize, discover, and also archive procurement-associated papers.

documents management

A(n) _____ kind of e-procurement that sends researches for indevelopment and also prices to providers and also receives the response of service providers utilizing Web innovation.

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e-tendering

A(n) _____ type of e-procurement that Identifies new companies for a particular category of purchasing requirements utilizing Net technology.