PMP Questions ID 1903 different types of contracts are appropriate for different types of purchases which of these is

Different types of contracts are appropriate for different types of purchases. Which of these is not one of the three broad categories of contracts?

Select one

Time and Material

Cost-reimbursable

Fixed assessment

Fixed-price or lump sum

PMP Question No 1902 - Procurement

Apart from the difference in the overall governance approach used for the projects performed under the predictive and adaptive lifecycles, the project manager should also be familiar with:

Select one

The difference in the cost/benefit analysis techniques in both approaches.

The tools and techniques used in both approaches.

The difference in the quality standards in both approaches.

The risk management processes used in both approaches.

Answer

PMP Question No 1901 - Procurement

What is the purpose of a bidder conference?

Select one

Awarding a contract to the most suitable vendor

Pre-qualifying the potential sellers

Ensuring all vendors have a clear understanding of the procurement

Developing a comprehensive seller's list

Answer

PMP Question No 1900 - Procurement

Which of the following is accurate regarding agreements in Project Procurement Management?

Select one

Agreements can never be terminated.

Terms and conditions never include the seller’s proposal.

Agreements are informal documents.

Agreements are legal documents between a buyer and a seller.

Answer

PMP Question No 1898 - Procurement

Your company requires that before you purchase any routers or switches for the data center you are building, you need to solicit quotes from three separate suppliers prior to submitting the purchase request to the finance department. This policy belongs to:

Select one

Organizational Process Assets

Enterprise Environmental Factors

Procurement Management Knowledge Area

Make-or-Buy Decision

Answer

New PMP Question & Answers with explanation