PROJ598 Week 3: QUIZ Contract and Procurement Management ( 4 Questions)


Here is some information about your quiz.

  • This quiz covers COs A, B, C, and D; World Class Contracting, fifth edition, Chapters 1–8; and the PMBOK® Guide, Chapter 12.
  • This quiz is worth 100 total points and includes one multiple choice question worth 10 points and three essay questions worth 30 points each.
  • You have 1 hour and 30 minutes to finish the quiz.
  • When the time limit is reached, you will be exited from the exam.
Question 1 (10 pts)
(TCO B) All of the below would be considered good selection criteria for a buyer to use to select a seller, except
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Question 2 (30 pts): (TCO A) According to the PMBOK® Guide, there are four processes in the procurement area. Describe and explain these four processes in the procurement management process for the buyer.
Question 3 (30 pts): (TCO C) Compare and contrast a firm fixed-price contract with a time and materials contract. When would each be appropriate for a given project?
Question 4 (30 pts): (TCO D) Compare and contrast an RFP, an IFB, and an RFI. When would each best be used in procuring goods or services?
Course: PROJ598 Contract and Procurement Management
School: DeVry University / Keller Graduate School of Management
  • 12/11/2017
  • 40
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