Questions Q2 Flashcards by Jose Esneider Moscoso Acosta

Who has the responsibility for informing the final deliverable to all stakeholders?

a. Project Manager
b. Management
c. Team Lead
d. Sponsor

a. Project Manager

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A contract obligates the seller to provide the services to the buyer, and it requires the buyer to pay the seller upon receipt of the services. A contract remains valid unless

a. The contract contains clauses that will violate existing laws and regulations
b. The buyer cannot pay the seller because of unforeseen financial difficulties
c. The seller does not have the financial resources to deliver the service
d. One party’s legal department cancels the contract with sufficient notice

a. The contract contains clauses that will violate existing laws and regulations

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After preparing the risk management plan, the project manager identified the project risks and documented the in the risk register. What has the project manager done wrong?

a. Risks should be identified with stakeholders
b. Risks should be documented in the risk management plan
c. The risk management plan can only be defined once the risks have been identified
d. Risks should be identified by the team

a. Risks should be identified with stakeholders

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You are coaching a new team member in your project. One of her functions is to recommend corrective actions to increase the effectiveness and efficiency of the organization.This falls under the Perform Quality Assurance process. This list of actions that results from carrying out this process is documented as

a. Recommended preventive actions
b. Organizational process assets updates
c. Change requests
d. Project management plan updates

c. Change requests

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Project managers for international projects should recognise key issues in cross-cultural settings and place special emphasis on….

a. Establishing and following production schedules for information distribution to avoid responding requests for information between scheduled communications
b. Establishing a performance reporting system
c. Using translation services for formal, written project reports
d. Using good communication planning

d. Using good communication planning

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You are the project manager for the Construction Project. John, a project team member, is confused about what QA is. Which of the following best describes QA?

a. QA is quality acceptance according to scope verification
b. QA is quality assurance for the project stakeholders
c. QA is quality assurance for the overall project performance
d. QA is quality assurance for the project deliverable

c. QA is quality assurance for the overall project performance

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Fearing airlines strikes, your company has decided to cancel all onsite meetings scheduled for the month of April. Web meetings have been scheduled instead. What type of risk response strategy has been used?

a. Accept
b. Mitigate
c. Avoid
d. Transfer

c. Avoid

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A simple performance report provides information on

a. Scope creep
b. Percent complete
c. Customer satisfaction
d. Unacceptable variances

b. Percent complete

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You are developing strategies to effectively engage stakeholders throughout the project life cycle. What is process you are working on?

Select one:

a. Control Stakeholder Engagement
b. Plan Stakeholder Management
c. Manage Stakeholder Engagement
d. Identify Stakeholders

b. Plan Stakeholder Management

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The Project Procurement Management includes:

a. All of the above
b. Solicitation
c. Procurement planning Incorrect
d. Solicitation planning

a. All of the above

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Which of the following BEST describe the project manager’s role during the procurement process?

a. The project manager should supply an understanding of the risks of the project
b. The project manager should tell the contract manager how the contracting process should be handled
c. The project manager should be the negotiator
d. The project manager has only minor involvement

a. The project manager should supply an understanding of the risks of the project

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a. Perform Quality Assurance
b. Perform Quality Control
c. Quality Improvement
d. Plan Quality

a. Perform Quality Assurance

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You are working on a project with 15 stakeholders. The number of communication channels on this project is

a. 15
b. 14
c. 210
d. 105

d. 105

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The key benefits of ____________ process is that it will maintain or increase the efficiency and effectiveness of stakeholder engagement activities as the project evolves and environment changes.

a. Identify Stakeholders
b. Control Stakeholder Engagement
c. Plan Stakeholder Management
d. Manage Stakeholder Engagement

b. Control Stakeholder Engagement

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The plan risk responses process includes:

a. Prioritising risks
b. Developing contingency plans and identifying the response’s triggers
c. Determining risk causes
d. Preparing a risk breakdown structure

b. Developing contingency plans and identifying the response’s triggers

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One purpose of the communication management plan is to provide information about the?

a. methods that will be used for releasing team members from the project when they are no longer needed
b. methods that will be used to convey information
c. Experience and skill levels of each team
d. project organisation and stakeholder responsibility relationships

b. methods that will be used to convey information

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You are building a dam across a river. The dam would cause a number of villages to be flooded. The villagers do not want the dam to be constructed. Should you consider these villagers as Stakeholders - choose the BEST answer

a. No - stakeholder is anyone who is involved in the project
b. Yes - anyone who is positively or negatively impacted by the project is a stakeholder
c. Yes - stakeholder is anyone who can be positively or negatively impacted or can impact the project
d. No - stakeholder is anyone who can influence the project

c. Yes - stakeholder is anyone who can be positively or negatively impacted or can impact the project

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Procurement audits are structured reviews that recognize good practices and identify questionable items during the preparation and administration of procurement contracts. Which Project Procurement Management process uses procurement audits as a tool or a technique?

a. Conduct Procurements process
b. Plan Procurements process
c. Administer Procurements process
d. Close Procurements process

d. Close Procurements process

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You are the project manager for the KOY Project, which requires quality that maps to federal guidelines. To ensure that you can meet these standards, you have elected to put the project team through training specific to the federal guidelines your project must adhere to. The costs of these classes can be assigned to which of the following?

a. Cost of non-conformance
b. The cost of doing business
c. Cost of adherence
d. Cost of quality

d. Cost of quality

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A project risk is a(n) _____________________occurrence that can affect the project for good or bad

Select one:

a. Potential
b. Uncertain
c. Known unknown
d. Known

b. Uncertain

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As part of your company’s ISO-compliant project management processes, a project quality auditor visits all large projects at least once a month. The project auditor visited your project for five consecutive months and found it to be in compliance with the company’s project management processes, but the project auditor did not show up last month. What would be an appropriate course of action?

a. Report the project quality auditor to the quality management office immediately
b. Do not worry about it because the project has been compliant in the past
c. Wait until the next month because the audit is not adding any value to the project
d. Contact the project quality auditor and ask him/her to perform the monthly project audit as planned

d. Contact the project quality auditor and ask him/her to perform the monthly project audit as planned

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Project managers can present project information in many different ways.Which one of the following is not a method a project manager can use to present project performance?

a. S-curves
b. Histograms
c. Bar charts
d. RACI matrix

d. RACI matrix

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You are negotiating with a contractor for additional staff augmentation - a number of software developers and a few testers .As a buyer you don’t quite have the exact statement of work ready. What kind of contract is MOST appropriate for this kind of work?

a. Cost plus fixed fee - CPFF
b. Fixed Price Incentive Fee Contracts - FPIF
c. Time and Materials - T & M
d. Firm Fixed Price Contract – FFP

c. Time and Materials - T & M

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……is an assessment performed by an unbiased individual or entity to determine if project activities conform to the organization and project policies and procedures

a. Process analysis
b. Change control system
c. Quality audit
d. Configuration management system

c. Quality audit

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Which knowledge area process attempts both to increase the probability and impact of favourable events and to decrease the likelihood and effect of events that can have adverse consequences on the project? a. Project Quality Management b. Project Procurement Management c. Project Integration Management d. Project Risk Management

d. Project Risk Management

During the Plan Procurements process for a project, you make a decision based on whether a particular product or service can be produced by the project team or instead should be purchased. This decision-making process is called. a. Risk management b. Expert judgment c. Make-or-buy analysis d. Procurement management

c. Make-or-buy analysis

Project Stakeholders are defined as: a. Individuals and organizations who provide the financial resources b. All of the above c. Individuals and organizations who use the project's product d. Individuals and organizations whose interest may be positively or negatively affected as a result of project execution or successful project completion

b. All of the above

You are the project manager for the JHG Project. Management has requested that you create a document detailing what information will be expected from stakeholders and to whom that information will be disseminated. Management is asking for which one of the following? a. The communications worksheet b. The scope management plan c. The communications management plan d. The roles and responsibilities matrix

c. The communications management plan

Engagement of stakeholders is documented in ....... a. Stakeholder Register b. Salience Model c. Stakeholder Engagement Assessment Matrix d. Stakeholder Management Plan

c. Stakeholder Engagement Assessment Matrix

Quantitative risk analysis is MOSTLY concerned with? Select one: a. Performing a feasibility analysis b. Deepening the understanding of project risk c. Determining the budget require for risk management activities d. Using a decision tree analysis

b. Deepening the understanding of project risk

Stakeholder analysis is done in ______. a. Identify Stakeholders b. Reports performance c. Manage Stakeholder Engagement d. Plan communications

a. Identify Stakeholders

You are managing a project constructing a bridge over a river. All of the risks have been identified and the design phase is just completed. The team is in its second week of actual construction. One of the subject matter experts reports that there is a possibility of the monsoons to be heavier this year. She points out that the load bearing plates earlier designed may have to be redesigned considering the additional water pressure expected because of additional rain water. What would be your best immediate course of action? a. Risk mitigation by immediately redesigning the load bearing plates b. Update the Risk register to add this risk along with its probability and impact c. Schedule an emergency meeting with all stakeholders to discuss this risk d. Write up a change and submit to the Change Control Board for approval

b. Update the Risk register to add this risk along with its probability and impact

As a manager on a project your key outlook is to ensure that the project delivers within the scheduled timelines with minimal rework and customer delight. For some time now the project work is proceeding smoothly with a CPI and SPI a perfect. One of your team members approaches you and indicates that she might possibly need a long vacation on personal grounds. She indicates this could possibly occur in two months from now. You look up the schedule and as luck would have it - this team member happens to be scheduled to execute activities which are on the critical path - and her absence in two months' time would cause a delay in schedule. You decide to take some action and reschedule task allocation to ensure that this team member is not planned to work on any of the critical path activities. What did you just do? a. Exploit the risk b. Mitigate the risk c. Transfer the risk d. Avoid the risk

d. Avoid the risk

How is the Close Procurements process different from the Close Project or Phase process? a. The Close Procurements process supports the Close Project or Phase process. b. The Close Procurements process is not the responsibility of the project manager. c. The Close Procurements process is exclusively applied at a project’s end. d. Only the Close Project or Phase process ensures that one party is not at default

a. The Close Procurements process supports the Close Project or Phase process.

Your company established an acceptable budget variance of +/– 5% for every project. On a monthly basis, projects may have a budget variance outside the acceptable range, provided this does not happen more than twice in a row. What quality tool should you use to evaluate your project’s cost variances over the past two years? a. Flowcharting b. Control chart c. Cause and effect diagram d. Ishikawa diagram

b. Control chart

You are the project manager for the recently initiated Floor Installation Project. Today you plan to meet with your project team to ensure that the project is completed with no deviations from the project requirements. This process is which of the following? Select one: a. Quality planning b. Quality management c. Quality control d. Quality assurance

a. Quality planning

You and a group of managers who conduct a weekly meeting for sharing information and project management best practices. Joe who is a colleague of yours explains the need of correctly identifying all the project stakeholders. He explains that in his current project he has made use of Stakeholders Engagement Assessment Matrix. Many of the other colleagues are not quite aware of the need and usage of this matrix - which of the following is the BEST choice? Select one: a. Lists all the stakeholders b. Lists only those stakeholders who are Resistant c. Lists all the stakeholders along with their current engagement and desired engagement d. Lists only those stakeholders who are Supportive

c. Lists all the stakeholders along with their current engagement and desired engagement

When do Procurement Negotiations happen? Select one: a. Control Procurements b. Conduct Procurements c. Plan Procurement Management d. Close Procurements

b. Conduct Procurements

The key benefit of control communications process is…. a. Sharing best practices with other project teams in the organisation with lessons learned b. Providing stakeholders with information about resolved issues, approved status, and project status c. Ensuring the information needs of stakeholders are met d. Ensuring an optimal information flow among communication participants

d. Ensuring an optimal information flow among communication participants

Which of the following will help you, the project manager, complete the needed communications management plan by identifying the stakeholders’ communication needs? a. Identification of all communication channels b. Formal documentation of all communication channels c. Formal documentation of all stakeholders d. Lessons learned from previous similar projects

d. Lessons learned from previous similar projects

Accepting a risk a reasonable response strategy when Select one: a. It is not possible to transfer, mitigate or avoid the risk b. There are no workarounds available c. The risk has never occurred before in the organisation d. There is not enough information to accurately analyse the risk

a. It is not possible to transfer, mitigate or avoid the risk

If you would like to identify who is getting impacted by your project where should you look?. Select one: a. Stakeholder Management Plan b. Organizational Process Assets c. Enterprise Environmental factors d. Stakeholder Register

d. Stakeholder Register

You are the project manager for the Construction Project. This project is similar to another project you have completed. Your project is to electronically store thousands of documents for your historical projects. Quality is paramount on this project. Management approaches you and asks why you have devoted so much of the project time to planning. Your response is which of the following? a. This is a first-time, first-use project, so more time is needed for planning b. Quality is planned into a project, not inspected in c. Planning for a project of this size, with this amount of quality, is mandatory. d. Quality audits are part of the planning time

b. Quality is planned into a project, not inspected in

Your company has won a large project for one of the fund houses to administer their funds. The project work has been going on smoothly and the customer has been singing praises about the work done so far. The client has planned a visit the next month to go over the plans for the next phase of the project as well as to meet with the project team. Your senior management realizes that this client could potentially need additional capabilities in the derivatives segment. Your company happens to have a strong exposure to this segment having executed numerous such projects. Your senior manager also invites key managers from the derivatives segment to showcase the organizations abilities in the derivates vertical - this is an example of ? Select one: a. Exploiting the risk b. Avoiding the risk c. Mitigating the risk d. Transferring the risk

a. Exploiting the risk

You are the project manager for your company and you have six vendors on your project. You’ve worked with the vendors collectively to organize and schedule their overlapping work, scope control, and changes within their contract requirements. You have created many procurement documents in this project. Which one of the following is true about procurement documents? Select one: a. They offer no room for bidders to suggest changes. b. They inform the performing organization why the bid is being created. c. The project manager creates and selects the bid. d. They ensure receipt of complete proposals.

d. They ensure receipt of complete proposals.

Which of the following statements is NOT true about a Procurement Audit? Select one: a. Identifies success and failure in Procurement process b. Validate quality of deliverables procured c. Documents lessons learned for future procurement processes d. Monitors complete procurement process from planning to the administration of procurement

b. Validate quality of deliverables procured

You are developing strategies to effectively engage stakeholders throughout the project life cycle. What is process you are working on? Select one: a. Identify Stakeholders b. Manage Stakeholder Engagement c. Control Stakeholder Engagement d. Plan Stakeholder Management

d. Plan Stakeholder Management

Communication is important when setting and managing expactations with the stakeholders. Which one of the following statements is NOT true regarding the importance of communication within a project? Select one: a. Listening is part of communicating and is a way to gain insights into problem areas, managing conflicts, and making decisions b. Effective communication includes awareness of communication styles, cultural issues, relationships, personalities, and the context of situation c. Communication is one of the single biggest contributors to project success or failure d. Project resources should be spent primarily on communication information that leads to project success

d. Project resources should be spent primarily on communication information that leads to project success

Sample attributes of a communication management plan include which one of the following Select one: a. Ethics b. Roles c. Authority d. Responsibilities

d. Responsibilities

Management has asked you to define the correlation between quality and the project scope. Which of the following is the best answer? Select one: a. Quality metrics are applied to the project scope b. Quality is the process of evaluating the project scope to ensure that quality exists c. Quality is the process of completing the scope to meet stated or implied needs d. The project scope includes metrics for quality

c. Quality is the process of completing the scope to meet stated or implied needs

Project managers plan quality activities to ensure that the project will meet the requirements for which it was undertaken. Such activities could result in continuous process improvement and produce the following outputs Select one: a. Process improvement plan and quality baseline b. Requested changes and recommended corrective actions c. Quality baseline and project management plan (updates) d. Quality checklists and process improvement plan

b. Requested changes and recommended corrective actions

Juan is the project manager for his organization and he’s asked Beth, a project team member, to help him create a fishbone diagram. Beth doesn’t know what this is and asks for your help. A fishbone diagram is the same as a(n)______________________ diagram Select one: a. Ishikawa b. Control c. Flow d. Paret

a. Ishikawa

Which Project Procurement Management knowledge area process produces the procurement documents? Select one: a. Close Procurement b. Plan Procurement c. Administer Procurement d. Conduct Procurement

b. Plan Procurement

Which documents are prepared by the sellers and highlight their ability and willingness to deliver a product, service, or result for the buyer? Select one: a. Letters of intent b. Memos of understanding c. Agreements d. Proposals

d. Proposals

Stakeholder registers from previous projects are part of ______. Select one: a. Organizational process assets b. Project Charter c. MOM d. Risk Register

a. Organizational process assets

The intent of the risk management process group is to ________. Select one: a. Announce project deliverables b. Increase the probability of positive outcomes in the project c. Announce project risks d. Not consider risks affecting the company

b. Increase the probability of positive outcomes in the project

The ability of Stakeholders to influence the project is.......... Select one: a. Highest during the closing stages only b. Lowest during the initial stages and highest during the closing stages c. Highest during the initial stages and gradually decreases d. Highest during the initial stages and during the closing stages

c. Highest during the initial stages and gradually decreases

As a manager on a project your key outlook is to ensure that the project delivers within the scheduled timelines with minimal rework and customer delight. For some time now the project work is proceeding smoothly with a CPI and SPI a perfect. One of your team members approaches you and indicates that she might possibly need a long vacation on personal grounds. She indicates this could possibly occur in two months from now. You look up the schedule and as luck would have it - this team member happens to be scheduled to execute activities which are on the critical path - and her absence in two months’ time would cause a delay in schedule. You decide to take some action and ask the team member to start regular knowledge transfers to a couple of trainees. Your thought is though the trainees would be relatively inexperienced they would more than make up for it with two people rather than one person to perform these tasks should this team member need to go on leave. What did you just do ? Select one: a. Exploit the risk b. Transfer the risk c. Avoid the risk d. Mitigate the risk

d. Mitigate the risk

Which of the following statements is not true regarding a Contract? Select one: a. Legally binding in nature b. Obligates buyer to provide compensation and obligates seller to provide some product or service in return c. By careful administration of terms and conditions the buyer can transfer some of the risks to the seller d. Contracts undergo an approval process as any other plan

d. Contracts undergo an approval process as any other plan

Mark is the project manager of the PMH Project. Quality inspection of the deliverables show several problems. Management has asked Mark to create a chart showing the distribution of problems and their frequencies. Given this, management wants which of the following? Select one: a. A control chart b. A Pareto diagram c. An Ishikawa diagram d. A flowchart

b. A Pareto diagram

Who of the following are Stakeholders in a project Select one: a. End user who will use the product developed in the project. b. CTO c. Sales Manager d. Marketing Head

a. End user who will use the product developed in the project.

You have identified risks, assessed them using a probability impact matrix. And ranked them according to their priority. What should you do NEXT? Select one: a. Approve the project management plan b. Prepare the top ten list c. Plan risk responses d. Identify secondary risks

b. Prepare the top ten list

You are the project manager of the Condo IV Construction project and you’re working with your project team and the project sponsor to identify the quality metrics and develop the quality management plan for the project. In light of this planning event, which of the following is most true about quality? Select one: a. Quality is prevention-driven b. It will cost more money to build quality into the project c. Quality is inspection-driven d. It will cost less money to build quality into the project process

a. Quality is prevention-driven

The project manager wants to organise project risks by category to facilitate their management. What tool should be used? Select one: a. Decision tree b. Probability impact matrix c. Risk tree d. Risk breakdown structure

d. Risk breakdown structure

Which of the following is an output of Identify Stakeholders? a. Initial list of stakeholders b. Project Management plan c. Stakeholder Register d. Communication plan

c. Stakeholder Register

Which of the following statements about contract type is correct? a. Lump sum contracts offer sellers the greatest profit potential. b. Cost reimbursable contracts offer sellers the highest profit potential. c. A fixed price contract contains the most risk for the buyer. d. Unit price contracts are illegal in many jurisdictions.

a. Lump sum contracts offer sellers the greatest profit potential.

At which stage, stakeholders have the maximum influence on a project? a. Initial stage b. None of the above c. Execution stage d. Closing stage

a. Initial stage

The project management team monitors specific project results to ensure compliance with pertinent quality standards. Which of the following statements is correct about project quality control? Select one: a. Project quality control requires knowledge of sampling and probability b. Continuous process improvement is part of project quality control c. Project quality planning is a key process of project quality control d. Project quality control identifies standards that are relevant to the project

a. Project quality control requires knowledge of sampling and probability

Of the following types of contracts - which has the HIGHEST risk for the buyer ? Select one: a. Fixed Price Incentive Fee Contracts - FPIF b. Firm Fixed Price Contract - FFP c. Time and Material d. Cost plus fixed fee - CPFF

d. Cost plus fixed fee - CPFF

The supplier to whom you had contracted for procurement has supplied the deliverables. Contract performance reporting and product verification is done in............. Select one: a. Conduct Procurement b. Control Procurement c. Close Procurement d. Plan Procurement Management

c. Close Procurement

You are the project manager for the ASE Project, which must map to industry standards in order to be accepted by the customer. You and your team have studied the requirements and have created a plan to implement the deliverables with the appropriate level of quality. What is this process called? Select one: a. Quality assurance b. Quality control c. Quality planning d. Quality management

c. Quality planning

When selecting sellers, the source selection criteria may include all of the following except. a. Samples of the sellers’ products b. Copies of contracts from other clients c. References from previous customers d. Credentials of the management team

b. Copies of contracts from other clients

You are the project manager for the Construction Project A. You have created a contract for your customer. The contract must have what two things? a. Start date and acceptance of start date b. An offer and consideration c. Value and worth of the procured item d. Signatures and the stamp of a notary public

b. An offer and consideration

A product description of a project can help in creating procurement details. Which one of the following best describes the product description? Select one: a. A product description defines the requirements for the contract work b. A product description defines the contracted work c. A product description defines the contracted work based on the requirements of the customer d. All of the above

c. A product description defines the contracted work based on the requirements of the customer

Which statement is correct about the tools and techniques used in Project Procurement Management? Select one: a. The Plan Procurements process uses bidder conferences and records management systems. b. The Conduct Procurements process uses weighting systems and independent estimates. c. The Close Procurements process uses procurement audits, negotiated settlements, and records management systems. d. The Plan Procurements process uses standard forms and expert judgment

c. The Close Procurements process uses procurement audits, negotiated settlements, and records management systems.

You are in the process of negotiating with potential suppliers of plastic raw materials for your project. You separated the criteria into technical, economic, experience, and reputation categories. At this stage, what process are you performing? Select one: a. Conduct Procurement b. Cost Estimating c. Plan Procurement d. Activity Definition

a. Conduct Procurement

Your organization drafted a procurement document package in anticipation of upcoming legislation that will drastically impact how you perform your day-to-day operations. If you distribute the procurement document package to selected sellers, what can you expect in return? Select one: a. Quotations b. Proposals c. Requirements d. Invoices

b. Proposals

Adam is the project manager of the Warehouse Remodelling Project for his company. He is in the process of determining which contracts to use in this project. His company is risk-averse so the correct choice of contract is important to Bradley. Of the following contract types, which one requires the seller to assume the risk of cost overruns? Select one: a. Cost plus incentive fee b. Lump-sum c. Time and materials d. Cost plus fixed fee

b. Lump-sum

Which Project Procurement Management knowledge area process uses the following tools and techniques: independent estimates, advertising, and procurement negotiations? Select one: a. Administer Procurement b. Close Procurement c. Plan Procurement d. Conduct Procurement

d. Conduct Procurement

Which two Project Procurement Management knowledge area processes update the organizational process assets? Select one: a. Plan Procurements and Administer Procurements b. Conduct Procurements and Administer Procurements c. Administer Procurements and Close Procurements d. Plan Procurements and Conduct Procurements

c. Administer Procurements and Close Procurements

Assume that you are the leader of the proposal evaluation team. You asked your team members to come up with ideas on how to evaluate sellers. From the following list, which evaluation technique would most likely require further refinements? Select one: a. Assign predefined weightings to business and user requirements b. Rate and score the proposals based on multiple categories c. Include both subjective and objective evaluation criteria d. Assess the proposal based on the evaluator’s narrative summary

d. Assess the proposal based on the evaluator’s narrative summary

What is the procurement process that involves obtaining seller responses, selecting a seller, and awarding a contract called? Select one: a. Select acceptable seller b. Bidder conference c. Qualified sellers list d. Conduct Procurements

d. Conduct Procurements

A team member has been given the task of identifying which quality standards are relevant to this project and determining how to satisfy these standards. In which of the following activities is she engaged? Select one: a. Perform Quality Control b. Plan Quality c. Perform Quality Assurance d. Quality Improvement

c. Perform Quality Assurance

Mary is the project manager of the JHG Project. She has created a procurement statement of work (SOW) for a vendor. What project component is the procurement statement of work based on? Select one: a. The WBS dictionary b. The project scope statement c. The work breakdown structure (WBS) d. The scope baselines

d. The scope baselines

You are the project manager for a seller and are managing another company’s project. Things have gone well on the project, and the work is nearly complete. There is still a significant amount of funds in the project budget. The buyer’s representative approaches you and asks that you complete some optional requirements to use up the remaining budget. You should do what? Select one: a. Negotiate a change in the contract to take on the additional work b. Deny the change because it was not in the original contract. c. Gain the approval of the project stakeholder for the requested work. d. Complete a contract change for the additional work.

c. Gain the approval of the project stakeholder for the requested work.

----------------------Is a group of processes required to purchase or acquire the products, services, or results needed from outside the project team to perform the work. Select one: a. Procurement Management b. Planning Management c. Control Management d. Scope Management

a. Procurement Management

- PMI discusses procurement focusing on the ______ relationship. Select one: a. Selling b. Purchasing c. Vendor or seller d. Buyer or seller

d. Buyer or seller

The Close Procurements process uses several inputs. Which list contains the correct set of inputs? Select one: a. Enterprise environmental factors, project scope statement, and work breakdown structure b. Contract, contract management plan, selected sellers, and performance reports c. Procurement management plan, contract statement of work, and project management plan d. Project management plan and procurement documentation

d. Project management plan and procurement documentation

Martha is the project manager of the MNB Project. She wants a vendor to offer her one price to do all of the detailed work. Martha will issue which type of document? Select one: a. A Request for Proposal (RFP) b. A proposal c. A Request for Information (RFI) d. An Invitation for Bid (IFB)

d. An Invitation for Bid (IFB)

Which of the following statement is true regarding Procurement Documents Select one: a. These are the response documents provided by Seller to the Buyer. b. Describes how product or services will be acquired externally and type of contract to be administered c. It is the formal agreed contract between the buyer and seller d. It is used to solicit proposals from sellers and contains details of expected services or work to be done

d. It is used to solicit proposals from sellers and contains details of expected services or work to be done