Test Procurement

In a CPIF contract the work was completed for an actual cost of $470.000. The target cost is $500.000, the target fee is $60.000 and share ratio is 60/40. What are the final fee and the final cost?

The project manager is asked to assist the procurement manager in giving some potential sellers a tour of the facilities where the project work will be done. What part of the project management process are they in?

You are working on your research and development project when your customer asks you to include a particular component in the project. You know this represents new work, and you do not have excess funds available. What should you do?

Which of the following is not an input to the Control Procurement process?

Who has the cost risk in a fixed-price (FP) contract?

The customer is repeatedly requesting changes. You discover the contract does not include procedures for implementing changes, and there are no available funds in the customer’s budget to accommodate changes. What should you do?

In which of the following contract types does the buyer have the most cost risk?

A project manager is asked to select a contract type for a new software development project that has complete, detailed requirements. Which is the best contract to choose?

A team is in the Plan Procurement Management process. Which of the following are they working on?

You are managing the development of an enterprise resource planning software application. With your customer, you have signed a cost plus incentive fee contract. The negotiated pricing for the contract is:

Sharing ratio: 60/40

Target Cost: $500.000

Maximum Fee:$70.000

Target Fee: $60.000

Minimum Fee:$45.000

You spent $520.000 to complete all the work. What is the fee you will pay?

A contract has the following parameters: Target Cost = 200,000 RON, Target Profit = 20,000 RON, Target Price = 220,000 RON, Ceiling Price = 250,000 RON, Share Ratio = 70/30. The project was completed an actual cost of 170,000 RON. What is the actual profit the seller receives?

You are evaluating a change to the project and trying to decide whether to lease or buy an item for the project. The daily lease cost is 240$. the cost of purchasing the item is 6800$ investment cost and 70$ daily cost. How long will it take the lease cost to equal the purchase cost?

In which of the following contract types does the buyer have the most cost risk?

Generally, when is the best time to create a procurement management plan?

A team has just gathered information and requirements for a new project that will be completed by an external company. If the project manager is just starting the procurement process, which one of the following should be done last

What is the best way to describe how contract terms and conditions are created?

What is the result of bidder conferences held during the Conduct Procurements process?

A CPIF contract has the following characteristics:

Sharing ratio: 60/40

Target Cost: $500.000

Target Fee: $60.000

Maximum Fee:$70.000

Minimum Fee:$45.000

How much will the contractor be reimbursed if the project was completed for an actual cost of $470.000?

A project team is meeting to determine what the selection criteria will be for the project procurement. What procurement process are they in?

With which type of contract is the seller most concerned about project scope?