PMAN641 PROJECT PROCUREMENT MANAGEMENTFinal Exam(Fall 2015)INSTRUCTIONSThere are a total of 35 questions. Each of the 25 multiple-choice questions is worth 2 points and each of the 10essay questions is worth 5 points for a total of 100 points. Enter your answer where indicated. All answers are to bein âREDâ. This is an open book test, but it is not a group project and must be completed individually.For the multiple choice questions, you must select the best answer in order to have the correct answer. Essayquestion answers should be concise (no greater than 250 words per answer), specific, and to-the-point. Neithersources nor APA format is required. Long, rambling answers will result in lost points.This final exam file must be renamed (with your name as the first part of the file name) and posted to yourAssignments folder no later than the date and time specified in the Classroom. There are no exceptions to the finalexam deadline date and time, so be sure to double-check that (a) you know the correct deadline and (b) correctlypost your completed final exam to your Assignments folder.NAME: [Enter Your Name Here]MULTIPLE CHOICE QUESTIONS1.Project Manager Mary Ann is not a member of PMI but has applied for PMI certification. She has a meeting withthe representative of a potential seller, and gets into an argument with the representative. Mary Ann loses hercool and yells at the representative and tells him to âget out of her office.â Which of the following is true aboutMary Annâs conduct?A.B.C.D.It is a violation of PMIâs Code of Ethics and Professional Conduct.Since Mary Ann is not a member of PMI, she is not subject to the Code of Ethics and Professional Conduct.While not a per se violation of PMIâs Code of Ethics and Professional Conduct, Mary Ann should aspire to abetter standard of conduct.It is not a violation of the Institute for Supply Managementâs Principles and Standards of Ethical SupplyManagement Conduct.Your Answer =>2.Project Manager Amy Sueâs old college roommate owns a company, Services R Us, which sells the services thatAmy Sue needs for her project. Amy Sue decides to include Services R Us as a prospective seller for herprojectâs procurement requirements. In reality Amy Sue is just doing this as a favor to her old roommate, and hasno intention of awarding the business to Services R Us, and has no financial interest in Services R Us. Is Amyâsdecision in violation of PMIâs Code of Ethics and Professional Conduct?A.B.C.D.No, because Amy Sue has no financial interest in the old roommateâs company Amy Sueâs decision istherefore not an actual conflict of interest under PMIâs Code of Ethics and Professional Conduct.Yes, while there may not be an actual conflict of interest, PMIâs Code of Ethics and Professional Conductconsider an appearance of a conflict of interest as a violation.No, because Amy Sue does not intend on awarding the business to the old roommates company.Yes, because despite Amy Sueâs intentions, she probably will select Services R Us as the seller.Your Answer =>3.Project Manager John Boy has a policy of only using experienced, dependable, and proven sellers instead ofselecting sellers through open competition as a means to manage procurement risk. What risk managementtechnique is John Boy using?A.B.C.D.Risk Acceptance.Risk Mitigation.Risk TransferRisk Avoidance.Your Answer =>14.Project Procurement Management ________.A.B.C.D.Describes the processes required to procure products, services, or results from outside the performingorganization.Involves processes to ensure that the project procures products, services, or results at the lowest possiblecost.Includes the processes to procure products, services, or results, but does not include the ongoingperformance management of the selected seller(s).Is not used by the seller of the product, service, or results under a contract.Your Answer =>5.Project Manager Billie Ray is coordinating a conference to allow sellers to obtain clarification on the services thatneed to be performed. Under what process of Project Procurement Management would this occur?A.B.C.D.Confidential Clarification Sessions.Conduct Contracting.Plan Purchases and Acquisitions.Conduct ProcurementsYour Answer =>6.Which type of document would Alex, a computer programmer, sign in order to protect his intellectual propertyrights prior to starting a consulting engagement?A.B.C.D.A contract to not engage in unfair business practicesA non-compete contractA non-disclosure agreementA cost-plus agreementYour Answer =>7.In PMBOK terms, when sellers are requested to provide responses, the specific means by which the buyerrequests the responses is the _____.A.B.C.D.Request for Proposal.Solicitation.Procurement Document Package.Request Seller Responses.Your Answer =>8.Which of the following is included as a part of a procurement management plan?A.B.C.D.Make-or-buy decision.List of pre-qualified selected sellers.Contract statement of work.All of the above.Your Answer =>9.Project Manager Daisy Duke works at a Fortune 100 company and acknowledges that there are someâunknownsâ in her procurement statement of work and specifications. Which contract type should Daisy Dukenot use?A.B.C.D.Time and Materials.Cost-Plus-Percentage of Cost.Fixed-Price Incentive.Cost-Reimbursable.Your Answer =>10. Which of the following would not normally be a contract boilerplate item?a. Payment terms2b. Insurance clausec. Governing law claused. Price adjustment for currency fluctuationse. Tax clauseYour Answer =>11. Project Managers need to have an understanding of Project Procurement Management because the ________.A.B.C.D.Project Manager procures the products, services, or results required by the project.Project Manager must ensure that products, services, or results are procured at the lowest possible cost.Project Manager is responsible for defining the needs of the project and for managing the schedule activitiesof the procurement professional who is a part of the project team.Project Manager is responsible for the creation of the procurement management plan, which is then turnedover to the buyer, who then initiates the Request Seller Responses.Your Answer =>12. Verification by the buyer of whether the products, services, or deliverables provided by the seller meets thebuyerâs acceptance criteria occurs at what point in the Project Management process?A.B.C.D.Verify ScopeChange Control processPerform quality assuranceContract AdministrationYour Answer =>13. Project Manager Billie Jo is purchasing 100 laptops and 20 desktop computers for her project, and the delivery ofthe computers is time-critical. Billie Jo would like to provide an incentive to the seller for the timely delivery of thecomputers. Billie Jo, along with the buyer on the project team, has agreed that the selected seller will be paidthe cost of the computers and a 10% fee. Which contract type is being used in this case?A.B.C.D.CPPC.CPIF.CPFF.Fixed Cost.Your Answer =>14. What is the document that is developed from the project scope statement, the project work breakdown structure(WBS), and the WBS dictionary?A.B.C.D.Contract Management Plan.Make-or-Buy Analysis.Organizational Process Assets.Statement of Work.Your Answer =>15. A project manager for a large manufacturing company is working on a project that calls for a new building to beconstructed to house a new clean system manufacturing process that is critical to the success of the project.Construction is not a core competency of his company. His team has the ability to create a detailed SOW withliquidated damages in the event that specific deliverables are not delivered on time. The PM is in the PlanProcurements phase of the project, and needs to select a contract type for this work. Which of the following is thebest type of contract for this situation?a. FP (Fixed price)b. CPFF (Cost plus fixed fee)c. CPIF (Cost plus incentive fee)d. T&M (Time and materials)Your Answer =>316. Bubba is a sales representative for Shrimp Boats R Us company, which is a prospective seller of shrimp boatsfor your project. Bubba has offered you a great end-of-the year deal that is substantially below the current pricesfor the desired boats. Other than meeting Bubba at the sellers pre-response (bidders) conference and seeing hisbusiness card, you know nothing other of Bubbaâs employment with Shrimp Boats R Us. In offering you thespecial pricing, what form of agency is Bubba operating under?A.B.C.D.Intended Authority.Express Authority.Sale Agency Authority.Apparent Authority.Your Answer =>17. The objective of the _____ is to identify successes and failures that warrant recognition in the preparation oradministration of other procurement contracts in a project.A.B.C.D.Lessons Learned Analysis.Procurement Audit.Procurement Documents.SWOT Analysis.Your Answer =>18. What is an oral or written act by an authorized agent which can be construed to have the same effect as a writtenchange order?A.B.C.D.A Constructive Change.Claims Administration.Implied Change Order.Agent-authorized Change Order.Your Answer =>19. Project Manager Buddy Lee has selected the use of a Firm Fixed-Price contract type for his procurement. Whichtype of Procurement Document(s) are most appropriate for Buddy Lee to use?A.B.C.D.RFP, RFI, RFQ, or IFBRFP, IFB, or FFPRFP or RFQRFI, RFQ, or IFBYour Answer =>20. Which of the following is a method / are methods to transfer risk from the buyer to the seller?A.B.C.D.The Delphi Technique.Risk Management Plan.Contract.All of the above.Your Answer =>21. Which of the following is a true statement about Procurement Documents?A.B.C.D.Procurement Documents should be structured to facilitate accurate and complete responses fromprospective sellers.Procurement Documents are used to solicit responses from prospective sellers.Procurement Documents may include a copy of the contract type.All of the above.Your Answer =>22. A project manager has just reached the end of a project. Which of the following documents will the projectmanager need for closure of the project?4A. Change requests.B. Documents that describe the product of the project.C. Documents that describe the project status.D. Trend analyses.Your Answer =>23. A contract between buyer and seller specifies that a seller will pay $1,000 per day if the seller fails to deliver thematerials according to the project schedule. What form of contract remedy is the seller agreeing to here?A.B.C.D.Liquidated Damages.InsuranceEquitable Relief.Remedial Payment.Your Answer =>24. Which of the following is a true statement concerning evaluation criterion?A.B.C.D.They can often be found in a Procurement Document.They can be objective or subjective.They may be limited to purchase price if the product, service, or result is readily available from a significantnumber of sellers.All of the above.Your Answer =>25. Which of the following is a method for quantifying qualitative data in order to minimize the effect of personalprejudice on seller selection?A.B.C.D.Weighting System.Screening System.Rating System.All of the above.Your Answer =>SHORT ANSWER QUESTIONS26. You are the Project Manager on a project where a seller is not performing to contract. The products delivered bythe seller do not adhere to the acceptance testing requirements described in the contract. To make mattersworse, despite negotiations, the seller is not motivated to substantially correct the issues, and your procurementis at a standstill. Explain your options in resolving this matter.Your Answer =>27. The PMBOK describes 6 âcompeting project constraints.â Select three of those constraints and explain theirpotential effect on project procurements.Your Answer =>28. A prospective seller, Seller XYZ, calls you to discuss the pricing contained in the response her company hadpreviously provided to you. In addition to being a large customer of your company, Seller XYZ has also been adependable, long-time supplier to your company. You would really like to see them win the business for yourproject. As the Projectâs Procurement Manager, you have visibility into all of the pricing provided by otherprospective sellers. During your discussions, Seller XYZ asks you for âguidanceâ on her companyâs pricing sothat they can be competitive with the other prospective sellers. How do you respond to Seller XYZ? Explainyour thought process in deciding how to respond and, if appropriate, reference one or more relevant codes ofethics that may apply to this situation.Your Answer =>29. Project Manager Earl Ray has developed an RFP to request responses from potential sellers for a uniqueproduct for sale to the US Government. Based on the requirements and specifications associated with the5procurement, Earl Ray believes the sellers will likely be niche technology start-up companies that will be requiredproduce a significant quantity of the new product to fulfill the needs of Earl Rayâs government customer.Describe some of the RFP evaluation criteria Earl Ray should include in his rating scorecard to properly evaluatethe sellersâ responses.Your Answer =>30. Project Manager Suzy Q is involved in managing two different sellers, one of whom is performing under a fixedprice contract type and the other that is performing under a cost-reimbursable contract type. Describe (a) whichphase of Project Procurements Suzy Q is in, and (b) what tools and techniques that Suzy Q could use to manageeach sellerâs performance under their respective contracts, and how the two differing contract types might requiredifferent tools and techniques.Your Answer =>31. Describe the role of the Project Manager in Project Procurement Management, including identifying what theProject Manager is and is not responsible for in the procurement process.Your Answer =>32. Describe the PMBOKâs recommended process by which a buyer prepares to request seller responses for anygiven procurement.Your Answer =>33. Buyer Bobbie Sue and Seller Billy Bob are disputing the delivery of products called for under their contract.Bobbie Sue says that the products that she pre-paid for do not conform to the requirements of the contract, butBilly Bob refuses to refund the payment or replace the products. Bobbie Sue and Billy Bob have tried to work outtheir differences through negotiation, but cannot come to an agreement. This has resulted in a contract dispute.Explain the dispute resolution options available to Bobbie Sue and Billy Bob, and the primary benefits of eachoption.Your Answer =>34. Project Manager Lani Jo is evaluating whether to have her companyâs IT department develop the softwareneeded by her project. Based on the Plan Procurements process of Project Procurement Management, describethe technique(s) and factors Bobbie Sue should use in making her decision.Your Answer =>35. Name the contract type that cannot legally be used for US Government procurements, and why that contracttype should not be used.Your Answer =>6
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