PMP Questions ID 1063 maintaining good supplier relationships should be important to all project managers a good buyer

Maintaining good supplier relationships should be important to all project managers. A good buyer-seller relationship is a partnership that results in a win-win situation that nurtures both parties. Which of the following is both a short- and long-term benefit of treating a supplier with courtesy, honesty, and fairness?

Select one

There is no need to have formal contracts in place

The supplier can charge a price higher than the market price

The buyer can delay the payments without jeopardizing the relationship

Delivery of quality products and services at the best price

PMP Question No 1028 - Procurement

Project knowledge management is concerned with managing which type of project knowledge?

Select one

Both “explicit” and “tacit” knowledge

“Explicit” knowledge; as this can be readily codified

“Tacit” knowledge; as this is difficult to express

“Tacit” knowledge; as this involves beliefs, insights, experience and “know-how”

Answer

PMP Question No 1021 - Procurement

If a project manager believes that a particular subcontract needs to be terminated, which of the following can provide guidance on the contract termination procedure?

Select one

The contract termination procedures in the organizational process assets

The termination clause of the specific subcontract

The change control procedures in the project management plan

The contract termination procedures in the project procurements management plan

Answer

PMP Question No 1014 - Procurement

During the Control Procurements process, a number of documents might get updated due to various reasons. Which of the following components of the project management plan is least likely to get updated during this process?

Select one

Quality management plan

Procurement management plan

Schedule baseline

Cost baseline

Answer