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Bidders' conferences can have a negative effect on the project if the project manager does not remember to make sure:

Option 1: all questions are put in writing and sent to all sellers.
Option 2: all sellers get answers to their questions only.
Option 3: to hold separate meetings with each bidder to ensure you receive proprietary data.
Option 4: there is room in the meeting for all sellers.
Option 5:

Who performs the formal acceptance and closure of the contract?

Option 1: The project manager for the buyer
Option 2: The project manager for the seller
Option 3: The person or organization representing the seller during the contract negotiations.
Option 4: The person or organization representing the buyer who is responsible for contract administration.
Option 5:

Which of the following BEST describes the project managers role during the contracting process?

Option 1: Project manager has only minor involvement
Option 2: Project manager should be the negotiator
Option 3: Project manager should supply an understanding of the risks of the project
Option 4: Project manager should tell the contract manager how the contracting process should be handled
Option 5:

What is the BEST way to describe how the contract's terms and conditions are created?

Option 1: They are based on a risk analysis.
Option 2: They are created by the contracting officer assigned to the project.
Option 3: They use only the company's existing standard terms and conditions.
Option 4: They are based on the needs of the seller
Option 5:

Once signed, a contract is legally binding unless:

Option 1: one party is unable to perform.
Option 2: one party is unable to finance its part of the work.
Option 3: it is in violation of applicable law.
Option 4: it is declared null and void by either party's legal counsel.
Option 5:

In what ways are Contract Close-out and Administrative Closure similar?

Option 1: Both processes involve product verification as well as the updating and archiving of the project records.
Option 2: Both processes are part of the overall Project Procurement Management process.
Option 3: Audits are not part of either process.
Option 4: The updating and archiving of the project records is the only similarity between the two processes.
Option 5:

The project team is arguing about the prospective sellers who have submitted proposals. One team member is arguing in support of one seller while another team member wants the project awarded to a different seller. What step of the procurement process is the team in?

Option 1: Procurement planning
Option 2: Solicitation planning
Option 3: Solicitation
Option 4: Source selection
Option 5:

During what step in the procurement process does contract negotiation occur?

Option 1: Procurement planning
Option 2: Solicitation planning
Option 3: Solicitation
Option 4: Source selection
Option 5:

A project manager is asked to select a contract for a new software development project that has established policies in place, Which is the BEST contract to choose?

Option 1: Cost reimbursable
Option 2: Fixed price
Option 3: Time and materials
Option 4: Cost plus fixed fee
Option 5:

Contract closure and administrative closure both involve

Option 1: product verification.
Option 2: kick-off meetings.
Option 3: creation of the scope verification plan.
Option 4: quality assurance activities.
Option 5:

While completing work on your contract, the seller is refused access to the facility by your company's security force, If access to the facility is stipulated in the contract, what should the project manager do?

Option 1: Let the seller work with security to obtain the access
Option 2: Issue a change order to change the contract
Option 3: Expect to receive a claim for additional time and cost
Option 4: Delete the site access from the project
Option 5:

A seller contacts you to tell you that one of your team members did something that caused the seller harm, and the seller is going to file a claim. What is the BEST thing to do?

Option 1: Look for instances where the seller caused you harm to counteract the claim
Option 2: Use the reserve to cover the claim
Option 3: See if there is any money left in the budget to pay for the claim
Option 4: Follow the change control process outlined in the contract
Option 5:

You have just finished most of the work on a new systems integration project when the seller comes to you with detailed procedures for closure of the contract. The contract included closure procedures. What should you do?

Option 1: Revise the closure procedures after getting management's approval
Option 2: Get a change order
Option 3: Create new procedures that are more complete
Option 4: Assess the quality of the seller's new detailed procedures and if they are better than the current procedures, use them
Option 5:

Your seller on the project has not performed and you are terminating the contract. Which of the following is the BEST thing to do?

Option 1: Follow the contract closure procedures
Option 2: Meet with the seller, explain the problem, and obtain the seller's agreement on termination
Option 3: Review change request
Option 4: Report the seller to the state agency in charge of inspection
Option 5:

A seller is awarded a contract to build a pipeline, The contract terms and conditions require a work plan be issued for the buyers approval prior to commencing work, but the seller fails to provide one, WHICH of the following should the buyers project manager do?

Option 1: File a letter of intent
Option 2: Develop the work plan and issue it to the seller to move things along
Option 3: Issue a default letter
Option 4: Issue a stop work order to the seller until a work plan is prepared
Option 5:

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