PMP Questions ID 1608 in the procurement process the seller may be viewed initially as a bidder then as the selected

In the procurement process, the seller may be viewed initially as a bidder, then as the selected source, and then as the contracted supplier. The seller will typically manage the work as a project. In such an instance, which of the following is not true?

Select one

The buyer becomes the customer and is then a key project stakeholder for the seller.

Terms and conditions of the contract become key inputs to many of the seller’s management processes (ex: major deliverables, key milestones, cost objectives).

There need not be a contractual relationship between the buyer and the seller.

The seller’s project management team is concerned with all the processes of project management and not just procurement management.

PMP Question No 1601 - Procurement

What similarity exists between a cost-reimbursable contract and a timeand-materials contract?

Select one

They are open-ended.

The closure date is part of the contract.

They have fixed bonus rates.

They can never grow in value.

Answer

PMP Question No 1593 - Procurement

What type of method uses a weighting ranking system for quantifying qualitative data to minimize the effect of personal bias during the process of selecting a seller?

Select one

Independent estimates

Source Selection Criteria

Vendor audits

Sourcing workshops

Answer

PMP Question No 1498 - Procurement

You are the project manager for a Fortune 100 IT company, and you are currently engaged in an important project. You want to choose the best contractor for a specialized task. What should you do to evaluate potential contractors?

Select one

Create a lessons-learned document

Conduct a performance review

Evaluate proposals

Perform a Make-or-Buy analysis

Answer

PMP Question No 1488 - Procurement

What do the buyer and seller have in common with regard to Control Procurements?

Select one

Both parties have specific resources that can be idle.

Both parties have a contract change management plan.

Both parties ensure that they meet their contractual obligations and that their own legal rights are protected.

Each party has its own project plan and legal team.

Answer