Pm 598 Week 8 Final Exam

PM 598 Week 8 Final Exam
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1. (TCO H) What is the maximum value of a verbal contract?
        $100
        $200
        $300
        400
        500


2. (TCO F) Which is not part of the award phase of the contract management process?
        Source selection
        Contract negotiation
        Contract formation
        Contract administration
        All of the above


3. (TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities.      

4. TCO A) Describe three techniques that build trust and a lasting partnership. Give an example for each technique and how it would impact an organization.


5. (TCO B) Describe the seller's pre-award stage of the contract management process. Give an example of the activity that takes place in each step.



6. ((TCO E) Describe and explain some of the tools and techniques that should be used in source selection. For example, is negotiation the only effective tool for source selection or are there others?
a .Contract negotiation, weighing systems, screening systems, and independent estimates are all manners to select appropriate sources. Regardless of the source required, there should be a process to screen suppliers in a way to empirically select a source. This reduces personal bias and other factors from the process.
     




1. (TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and with time and material agreements. Offer your opinion on which type of contract would best suit your organizational needs if you had to only select one type of agreement for all your suppliers and sub-contractors. (Points : 16)


2. (TCO F) What is source selection, and why is it important?


3. TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe...