Expert Answer :PROJ 410 Week 4 Midterm Exam 3 (MCQs & Essay)

Solved by verified expert :Midterm Set 3(TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. (Points : 5)(TCO 5)To assess the impact of a contract on both the buyer and seller, an analysis of exposure can be completed. Categories analyzed in this exposure analysis include all of the following except: ______. (Points : 5)(TCO 7)For most customers, requesting multiple bids is the preferred approach because it: _______. (Points : 5)(TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______. (Points : 5)(TCO 3)What activities is the contract administrator responsible for in a contract situation? What about the project manager? (Points : 12)(TCO 4)What is the difference between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF) contract structures? (Points : 12)(TCO 6)List three commonly used evaluation criteria listed in an RFP and explain why a buyer would want this information before selecting a seller. (Points : 12)(TCO 8)What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller? (Points : 12)(TCO 7)Describe the common sections of the RFP. (Points : 12)(TCO 2)Part 1: List and define the six phases of the project procurement management process. Part 2: How could you organize a simple project such as renovating a bathroom into the six steps in the project procurement management process? Part 3: The buyer determines the contract pricing structure during which step of the project procurement process? (Points : 30)(TCO 1)Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)(TCO 3)Evaluate the most common business drivers for outsourcing business processes. Which two drivers would be among the most important? (Points : 30)(TCO 1) List and describe the directives to consider the process of outsourcing if you are a senior manager. (Points : 30)