Project Procurement Management: Contract Types, Sourcing Strategies & Closure Processes

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Sociology - Management

charlotte1oxhi Created by 10 mon ago

Cards in this deck(20)

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

In unit pricing, the total value of the contract is a function of the quantities needed to complete the work. _____

Procurement audits are often done during contract closure to identify lessons learned in the entire procurement process. _____

In an FPI contract, all of the risk is borne by the buyer. _____

The closing procurements process involves updating records to reflect final results and archiving information for future use. _____

Outsourcing suppliers can often provide economies of scale, especially for hardware and software, that may not be available to the client alone. This benefit offers an organization a _____ in costs.

In project procurement management, which process involves completion and settlement of each contract, including resolution of any open items? _____ procurements.

What is the first step in project procurement management? _____ procurement management.

Which is true of lump-sum contracts? They involve a _____ total price for a well-defined product or service.

A shortage of qualified personnel is one of the main reasons that companies outsource. This characteristic of outsourcing provides an organization with access to _____ skills.

A single contract can include all three categories of contracts. _____

Contents of the procurement management plan vary with project needs. _____

Outsourcing to provide extra workers during periods of peak workloads can be much more economical than trying to fill entire projects with internal resources. This characteristic of outsourcing provides organizations with _____ flexibility.

In project procurement management, a main output of controlling procurements is a source selection criteria. _____

Suppliers are those organizations or individuals who provide procurement services. _____

Make-or-buy analysis involves comparing the internal costs of providing a product with the cost of outsourcing. _____

In project procurement management, which process involves determining what to procure, when, and how? _____ procurement management.

In project procurement management, which is an output of the conducting procurements process? _____ requests.

A key factor in evaluating bids, particularly for projects involving information technology, is the past performance record of the bidder. _____

Outputs of the _____ process consist of selected sellers and change requests.

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