1.11 Explain important project procurement and vendor selection concepts Flashcards
(17 cards)
SOW
Statement of Work
Usually included with an RFP
Formal document that outlines the work a vendor needs to deliver
A server manager is considering the benefits of virtualized desktop infrastructures in their environment but wants to do a cost-benefit analysis to see if it would be worth it. What is the best request method to help the manager make this determination?
Request for quote (RFQ)
A project manager (PM) drafts an incredibly detailed, formal, and structured document to help the PM solicit multiple vendor proposals for a solution. The PM is working on which of the following?
A. Competitive Analysis
B. Market research
C. TOR
D. Design SOW
B. Market research
CPPC
Cost-plus percentage of cost
CPAF
cost-plus award fee
FPIF
fixed-price incentive fee
FP-EPA
fixed-price with economic price adjustment
A vendor is trying to negotiate a contract for a high-value project where predicting a final cost is difficult. Which of the following would be the vendor’s preferred contract type?
CPPC
TOR
Terms of reference
A project manager (PM) formalizes documents and wants to create a shared understanding of a group’s scope of work or expectations. Which of the following should the PM draft?
Terms of reference (TOR)
A chief executive officer (CEO) is pushing a major project and wants to fast-track the process, especially from the contracting procurement procedure perspective. Which of the following would help the CEO accomplish this goal?
A. OpEx
B. Prequalified vendor
C. Performance SOW
D. Subscription
B. Prequalified vendor
A project manager (PM) wants to generate a shortlist of vendors to invite to respond to an RFP. What is the PM most likely doing?
A. Market research
B. TOR
C. Design SOW
D. Competitive analysis
A. Market research
A procurement specialist analyzes vendors and wants to compare them against each other. What process should the specialist conduct?
A. Market research
B. Competitive analysis
C. CapEx
D. SOW
B. Competitive analysis
RFB
Request for Bid
An information technology manager wants to spearhead an effort to pilot an initiative for company cars. The manager has never had a need before, but with the company’s growth, certain activities are starting to require using company cars. What is a good strategy for the pilot?
A. Subscription
B. Buy
C. Build
D. Lease
A. Subscription
A server engineer is trying to devise techniques to evaluate if the vendor is a good fit for the partnership or if the vendor’s solution fits their current project needs. Which of the following is NOT considered one of the main techniques the server engineer should use?
A. Demonstration
B. Qualifications
C. References
D. Technical approach
B. Qualifications
Practical evaluation technique and NOT a fit evaluation technique
Which SOW is outcome-focused and lists the requirements of a finished product only? Functional or Design
Functional
