Proj 410 Final Exam Set 2

PROJ 410 Final Exam Set 2

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1. (TCO 1) A cost-plus-percentage-fee contract is a: _______. (Points : 5)

cost-reimbursable contract, the seller pays the buyer's actual costs, and a percentage of the total project costs

cost-reimbursable contract, the seller pays the buyer's actual costs, and all of the total project costs

cost-reimbursable contract, the buyer pays the seller's actual costs, and a percentage of the total project costs

cost-reimbursable contract, the seller pays the buyer's actual costs, and none of the total project costs

2. (TCO 2) The difference between the project manager and contract administrator is: ______.

(Points : 5)

the project manager is responsible for the project-related coordination, while the contract manager is responsible for administering the contract

the contract administrator has the authority to make all contract-related decisions, like approving a change order. The project manager does not have this level of authority.

the project manager is responsible for the administering of the contract, while the contract manager is responsible for project-related coordination.

the project manager has the authority to make all contract-related decisions, like approving a change order. The contract administrator does not have this level of authority.

3. (TCO 3) Which is a key component in the project procurement management process? (Points : 5)

RFI Request for Issue

RFP Request for Proposal

RFB Request for Buy

RFC Request for Contract

4. (TCO 2) Senior management typically has different reasons for issuing the directive to outsource than management responsible for the business process. Senior management typically decides to evaluate outsourcing because: ______. (Points : 5)

there is a means to focus more resources on business process strategy

there is a means to focus less resources on business process strategy...