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172 Best PMP Practice Exam on Project procurement Management

04/13/2015 Brenda Wilson 0 Comment

172 Best PMP Practice Exam on Project procurement Management

In order to obtain PMP ( project management professional)credential that you need to meet the eligibility such as the experience, education requirements and 35 contact hours. Click here to get further information. Moreover, it is especially important that you need to pass the PMP exam by answer correctly at least 106 out of 200 questions through 4 hours but it depends on the difficult question’s level. It is not easy to pass the PMP exam without preparing well before, so you need to take your time to practice free Pmp exam questions before sitting the exam. Those Pmp practice exam questions free online, providing the concepts included in your materials and the similar type of questions that you will meet in your real test. Especially, it is the best way to remember chapter contents and make your critical thinking about this test without wasting your time because you can practice them any time and anywhere when you are free. Indeed, beside practice these Pmp exam questions that you should read some tips to help you prepare well for your exam or ask somone who pass successfully the exam to know how to prepare effectively. In this article, we offer 172 Best PMP Practice Exam for your self- study, these 172 quiz questions below focusing on project procurement management. After completing these questions below that you just need to click the “submit” button to take full answers automatically and check your practical result by given answers to know what your weakness to practice more. Hope that you enjoy and don’t forget to leave your comment below after finished to let us know your problems if you need a solution. Good time!

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172 Best PMP Practice Exam on Project Procurement Management - Page 1

Proprietary rights
Contract Types Use in Plan Procurements
RFP
Source Selection Criteria Use in Conduct Procurements
Teaming Agreements
1. Bidder Conferences2. Proposal Evaluation Techniques3. Independent Estimates4. Expert Judgement5. Advertising6. Analytical techniques7. Procurement Negotiations
12.1 Plan Procurements12.2 Conduct Procurements12.3 Control Procurements12.4 Close Procurements
Contain complete supporting records for administration of the procurement processes. This includes procurement contract awards and the statement of work
Cost-reimbursable contract types
• Types of contracts to be used;• Risk management issues;• Whether independent estimates will be used and if they are needed as evaluation criteria;• Those actions the project management team can take unilaterally, if the performing organization has a prescribed procurement, contracting, or purchasing department;• Standardized procurement documents, if they are needed;• Managing multiple suppliers;• Coordinating procurement with other project aspects, such as scheduling and performance reporting;• Any constraints and assumptions that could affect planned procurements;• Handling the required lead times to purchase items from sellers and coordinating them with the project schedule development;• Handling the make-or-buy decisions and linking them into the Estimate Activity Resource and Develop Schedule processes;• Setting the scheduled dates in each contract for the contract deliverables and coordinating with the schedule development and control processes;• Identifying requirements for performance bonds or insur
Planning Process Group
Selection criteria can be limited to purchase price if the procurement item is readily available from a number of acceptable sellers. Purchase price in this context includes both the cost of the item and all ancillary expenses such as delivery. Other selection criteria can be identified and documented to support an assessment for more complex products, services, or results
1. Project Management Plan2. Procurement Documentation
• Includes, but is not limited to, the procurement contract with all supporting schedules, requested unapproved contract changes, and approved change requests.• Procurement documentation also includes any seller-developed technical documentation and other work performance information such as deliverables, seller performance reports, warranties, financial documents including invoices and payment records, and the results of contract-related inspections
Characteristics Cost Plus Award Fee Contracts
Inputs to Control Procurements
Performance Reports Use in Administer Procurements
Tools and Techniques for Plan Procurements
1. Procurement Audits2. Procurement negotiations3. Records Management System
Production capacity and interest
• It is a fixed-price contract, but with a special provision allowing for pre-defined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decreases) for specific commodities.• The EPA clause must relate to some reliable financial index which is used to precisely adjust the final price. • The FP-EPA contract is intended to protect both buyer and seller from external conditions beyond their control
• Fixed-price contracts• Cost-reimbursable contracts• Time and material contracts (T&M)
Close Procurements: Lessons Learned Documentation Updates
• Listings of prospective and previously qualified sellers, and• Information on relevant past experience with sellers, both good and bad
Activity Cost Estimates Use in Plan Procurements
• The organization can be either the buyer or seller of the products, services, or results of a project.• Includes the contract management and change control processes required to develop and administer contracts or purchase orders issued by authorized project team members.• Includes administering any contract issued by an outside organization (the buyer) that is acquiring the project from the performing organization (the seller), and administering contractual obligations placed on the project team by the contract. • Involve contracts that are legal documents between a buyer and a seller. • It is the project management team's responsibility to make certain that all procurements meet the specific needs of the project while adhering to organizational procurement policies. • The project management team may seek support early from specialists in contracting, purchasing, law, and technical disciplines. Such involvement can be mandated by an organization's policies.
Fixed Price Contracts
ADR (procurement)
Characteristics of Administer Procurements
Characteristics of Close Procurements
Plan Procurements: Enterprise Environmental Factors
Technical capability
• an agreement, • an understanding, • a subcontract, or • a purchase order.
• Contested changes and potential constructive changes are those requested changes where the buyer and seller cannot reach an agreement on compensation for the change, or cannot agree that a change has occurred. • These contested changes are variously called claims, disputes, or appeals.• Claims are documented, processed, monitored, and managed throughout the contract life cycle, usually in accordance with the terms of the contract. • If the parties themselves do not resolve a claim, it may have to be handled in accordance with alternative dispute resolution (ADR) typically following procedures established in the contract. • Settlement of all claims and disputes through negotiation is the preferred method
Will the selected seller produce the lowest total cost of ownership (purchase cost plus operating cost)?

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