TOP:Planning Procurement ManagementKEY:Bloom's: Knowledge18.In a(n) _____ contract, the buyer pays the supplier for allowable performance costs along with apredetermined fee and an incentive bonus.a.FFPc.CPPCb.CPIFd.FPIFANS: BIn a cost plus incentive fee (CPIF) contract, the buyer pays the supplier for allowable performance costsalong with a predetermined fee and an incentive bonus.PTS:1DIF:Difficulty: ModerateREF:p.486OBJ:LO: 12-2NAT:BUSPROG: AnalyticTOP:Planning Procurement ManagementKEY:Bloom's: Comprehension19.With a(n) _____ contract, the buyer pays the supplier for allowable performance costs plus a fixed feepayment usually based on a percentage of estimated costs.a.CPFFc.CPAFb.FPIFd.CPIFANS: AWith a cost plus fixed fee (CPFF) contract, the buyer pays the supplier for allowable performance costsplus a fixed fee payment that is usually based on a percentage of estimated costs. This fee does not varyunless the scope of the contract changes.PTS:1DIF:Difficulty: ModerateREF:p.487OBJ:LO: 12-2NAT:BUSPROG: AnalyticTOP:Planning Procurement ManagementKEY:Bloom's: Comprehension20.In which of the following contracts does the buyer pay the supplier for allowable performance costs alongwith a predetermined percentage based on total costs?a.FPIFc.CPPCb.CPIFd.CPAFANS: CWith a cost plus percentage of costs (CPPC) contract, the buyer pays the supplier for allowableperformance costs along with a predetermined percentage based on total costs.PTS:1DIF:Difficulty: ModerateREF:p.487OBJ:LO: 12-2NAT:BUSPROG: AnalyticTOP:Planning Procurement ManagementKEY:Bloom's: Comprehension21.From the buyer’s perspective, the _____ is the least desirable among all contracts because the supplier hasno incentive to decrease costs.a.CPIFc.CPAFb.CPFFd.CPPCANS: D Show
This preview shows page 104 - 106 out of 114 pages. 13.In project procurement management, the process of conducting procurements is part of the _____process.a.planningc.monitoring and controllingb.executingd. closing14.In project procurement management, which of the following is an output of the executing process?a.Make-or-buy decisionsc.Source selection criteriab.Statements of workd.Resource calendars15.In project procurement management, an output of themonitoring and controlling process.a.Change requestsc.Resource calendarsb.Selected sellersd. Make-or-buy decisions16.Which of the following is true of lump-sum contracts?a.They incur a high degree of risk for thec.They consist of a fee based on thebuyer.satisfaction of subjective performancecriteria.b.They involve a fixed total price for a well- d. They are also known as cost-reimbursabledefined product or service.contracts.17._____ contracts involve payment to the supplier for direct and indirect actual costs and ofteninclude fees.a.Firm-fixed-priceb.Lump sumc.Cost-reimbursable contractsd.Fixed-price incentive fee18.In a(n)contract, the buyer pays the supplier for allowable performance costs along with apredetermined fee and an incentive bonus.a.FFPb.CPIFc.CPPCd.FPIF19.With a(n) _____ contract, the buyer pays the supplier for allowable performance costs plus a fixed feepayment usually based on a percentage of estimated costs.a.CPFFc. CPAF b. FPIF d. CPIF 20.In which of the following contracts does the buyer pay the supplier for allowable performance costsalong with a predetermined percentage based on total costs?a. FPIF c.CPPCb. CPIF d. CPAF21.From the buyer’s perspective, the _____ is the least desirable among all contracts because thesupplier has no incentive to decrease costs.a.CPIFc.CPAFb.CPFFd.CPPC22.A(n) _____ contract carries the least risk for suppliers.a.CPPCc.CPAFb.FFPd. FP-EPA23. Theis a description of the work required for a procurement.a.RFQc.WBSb.RFPd.SOW24.A(n) _____ is a document used to solicit proposals from prospective suppliers.a.RFQc.RFPb.WBSd. SOW25.A document used to solicit quotes or bids from prospective suppliers is known as a(n) _____.a.RFQc.WBSb.RFPd.SOW26.After planning for procurement management, which of the following does the next process involve?a.Determining the evaluation criteria for thec.Using expert judgement in planningcontract awardpurchases and acquisitionsb.Developing procurement statements ofd. Sending appropriate documentation toworkpotential sellers Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 114 pages? Upload your study docs or become a Course Hero member to access this document In which contract does the buyer pay the supplier for allowable performance costs along with a predetermined percentage based on total costs?ANSWER: a With a cost plus percentage of costs (CPPC) contract, the buyer pays the supplier for allowable performance costs along with a predetermined percentage based on total costs.
In which type of contract must the buyer precisely specify the product or services being procured?Fixed-price contracts
Buyers must precisely specify the product or service being procured. Adjustments in scope can be done, but with changes in the contract price.
Which one of the following contracts carries the least risk for suppliers?An FP-EPA contract carries the least risk for a supplier. What is one drawback of outsourcing? it can make an organization become overly dependent on particular suppliers. While outsourcing, organizations should protect strategic information because it can become vulnerable in the hands of suppliers.
Which of the following types of contracts involves payment to the seller?Reimbursable Contract - A type of contract involving payment to the seller for the seller's actual costs, plus a fee typically representing seller's profit.
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In which of the following contracts does the buyer pay the supplier for allowable performance costs along with a predetermined percentage based on total costs?
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