You released an RFP but several of the prospective suppliers have questions regarding some of the scope. You determine that the best way to listen to their concerns and convey your message is to have a(n):
A. Invitation for bid
B. Qualified supplier list
C. Bidder's conference
D. Independent estimate
Answer: C. Bidder's conference
A bidder's conference is a meeting with suppliers to ensure they have a good understanding of the procurement document.
Showing posts with label procurement. Show all posts
Showing posts with label procurement. Show all posts
Contracts should typically be communicated through:
A. Informal written
B. Informal verbal
C. Formal written
D. Formal verbal
Answer: C. Formal written
Formal written communication should be used for project documents such as project charters, project plans, and contracts. As a general rule, if it needs sign-off, then you should take a formal written method. Most project communication, however, will fall into the other categories. These could include email (informal written), meetings (informal verbal), and presentations (formal verbal).
A. Informal written
B. Informal verbal
C. Formal written
D. Formal verbal
Answer: C. Formal written
Formal written communication should be used for project documents such as project charters, project plans, and contracts. As a general rule, if it needs sign-off, then you should take a formal written method. Most project communication, however, will fall into the other categories. These could include email (informal written), meetings (informal verbal), and presentations (formal verbal).
After deciding to outsource a part of the project, your sponsor tells you that he wants a contract with the least amount of risk. What type of contract will you be seeking?
A. Fixed price
B. Time and materials
C. Cost plus fixed fee
D. Cost plus percentage of cost
Answer: A. Fixed price
Of the contract types listed, fixed price (aka firm fixed price or lump sum) is the safest bet for the buyer. In a fixed price contract for $100,000, the buyer knows exactly what she is getting (assuming the scope is clearly defined) and how much she is paying. If the work actually takes more than $100,000 to deliver, then it rests on the supplier.
A. Fixed price
B. Time and materials
C. Cost plus fixed fee
D. Cost plus percentage of cost
Answer: A. Fixed price
Of the contract types listed, fixed price (aka firm fixed price or lump sum) is the safest bet for the buyer. In a fixed price contract for $100,000, the buyer knows exactly what she is getting (assuming the scope is clearly defined) and how much she is paying. If the work actually takes more than $100,000 to deliver, then it rests on the supplier.
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