ANSWER ALL THE MCQS ANSWERS

11. As a project manager, you'll often need to negotiate. In what type of environment do negotiations work best? A.Mutual respect and cooperation B.Mutual respect and admiration C.Sincerity, Honesty and extreme caution D.Caution and yielding 12Smith is the project manager of the Samantha Project. He's written a contract statement of work (SOW) for a vendor. All the following should be included in the SOW contract, except for one. Which one? A,The items being purchased B.The signatures of both parties agreeing to the SOW C.The expected quality levels D.A description of the collateral services required

13.Willie is the project manager for his organization and is preparing the procurement process for his current project. In choosing the vendors, many enterprise environmental factors and organizational process assets assist Willie. There are several evaluation criteria in the enterprise environmental factors that Willie must consider in vendor selection for the project. Of the following choices, which one is not a valid evaluation criterion for source selection? A.The age of the contact person at the seller B.Price C.Financial capacity D.The technical capability of the seller 14.Grace is a project manager for her company. She's progressing through the procurement management process. The procurement document package should be sent to whom? A.Your project sponsor B.Your client C.Each seller that will participate in the bidding D.Your accounting/fnance department 15. As the project manager of a project that will last three years in Sarasota, Florida, you are negotiating with your project customer about cost factors that will likely fluctuate, such as inflation and utilities, over the course of the project. This project should have what type of contract? A.Lump sum B.Fixed-price with economic price adjustments C.Fixed-price incentive fee D.Cost plus award fee 16. You are the project manager of the IHI Project for your organization. You are considering outsourcing a portion of the project to a vendor. You are interested in the price of the vendor completing the writing of the technical manual for the software your project team is creating. What documents should you send to vendors? A.Bid and SOW B.IFB and SOW C.RFP and SOW D.RFP and invitation to bidder's conference

17. Emily is the project manager of the GHY Project. She has hired several sellers to do a portion of the project work to test their competencies and to rate their work in the project. Based on their performance, she'll choose one vendor to complete a larger portion of the project work. What is the primary advantage of this trial engagement approach? A.The organization can test the vendor before buying more from the vendor. B.Multiple vendors will audition for the larger role on the project team. C.Progress will be made on the project while testing the vendors' performance. D.Emily will save money on the project costs as the vendors will complete the smaller portions of the project work at no cost to the organization 18. Jeffrey is the project manager of the OPO Project for his organization and a portion of his project will be contracted with a vendor. Kelly, the project sponsor of the OPO Project, tells Jeffrey to utilize a screening system for the vendors to help sort out unqualifed vendors. Which one of the following is the best example of a screening system? A.Vendors must be licensed and bonded in the Canadian State where the work will take place B.Bids must be under $250,000 C.Vendors must attend the bidders' conference D.Bids must accompany a detailed proposal with timeline

19. Anna has sent a SOW to 23 vendors for a portion of a construction project. The SOW describes the work in the project, but she has also invited the 23 vendors to a meeting to discuss the SOW and to answer any questions about the project work before the vendors will submit their proposals. What is the name of the meeting that vendors will participate in? A.SOW Meeting B.SOW clarity Meeting C.Bidders' conference D.Meet-and-Greet Conference

20. John is the project manager for his organization, and he's working with the project team to create a project cost estimate. John would like to purchase resources for his project from a specific vendor, The JH Goods Company, that he has worked with in the past. John knows that some other vendors may charge slightly less than the JH Goods Company, but he knows this vendor is reliable and does excellent work. What is the best term to describe John's preference in this scenario? A.Preferred Vendor B.Sole Source C.Oligopoly D. Single Source

21. You need to purchase materials from a vendor, but you prefer a particular vendor you've worked with in the past. This vendor is slightly more than its competitors, but they always deliver on time, are easy to work with, and offer excellent support. Your desire to work with this one vendor is best described as what type of market condition? A,Oligopoly B.Sole Source C.Single Source D.Preferred Source 22. Alice is the project manager for her organization and she is considering building a solution for her company. If she builds the solution it will cost the organization $650,000 to create and $17,300 per month to support. A vendor promises that they can build the solution for $120,000, but the monthly fee will be $21,400. What should Alice do? A.Buy the solution B.Buy the solution if the organization will use the solution for less than 18 months, but longer than 12 months, C.Buy the solution if the organization will use the solution for less than 13 months, but more than 11 months. D.Buy the solution if the organization will use the solution for longer than 13 months, but less than 24 months

23. A solution that your team is creating will cost $568,000 and will cost $25,000 a month to support. A vendor reports that they can offer you the same solution for no out-of-pocket costs and .08 per transaction. You know that there will be approximately 450,000 transactions per month. What should you do? A.Complete the solution in-house if you'll keep the solution less than four years B.Hire the vendor if you'll keep the solution longer than five years. C.Complete the solution in-house if you'll keep the solution more than one year. D.Hire the vendor if you'll keep the solution less than four years.