Under this type of contract, the buyer pays the seller for the time and materials required to complete the work and the unit rates are set.
a. Cost-Reimbursable contract
b. Time and Materials contract
c. Fixed Price/Lump Sum contract
d. Cost plus fixed fee contract
e. Cost-plus-incentive-fee contract
Project Procurement Management
- _ is the implementation method where the old system is shut down and the new system is turned on at an agreed upon date.
- The inability to switch vendors or reintegrate the outsourced activity is an example of the following common outsourcing mistake.
- Failure to include costs of searching for the vendor, writing the contract, or managing the vendor relationship are examples of the following common outsourcing mistake.
- Not actively managing the vendor could lead to the following common outsourcing mistake.
- Not retaining organization-specific knowledge is an example of the following common outsourcing mistake.
- Not establishing an appropriate balance of power between the client and vendor is an example of the following common outsourcing mistake.
- Performing due diligence to evaluate the financial strength of the vendor as a going concern helps protect against _
- Not verifying the prospective vendor’s qualifications as well as their experience and financial strength is an example of the following common outsourcing mistake.
- Outsourcing core business functions is an example of the following common outsourcing mistake.
- Which of the following is NOT a common outsourcing mistake?
- _ provides greater flexibility by allowing specific processes to be kept internal while allowing other processes to be outsourced.
- Which of the following approaches provides flexibility to choose which project processes and deliverables should be from external sources and which should be internal to the organization?
- Which of the following would an organization employ if an organization employ if all project products and services were from external sources?
- _ has caused a lot of controversy because of the perception that jobs within one country are replaced by lower wage jobs in another, leading to higher domestic unemployment.
- _ takes advantage of labor arbitrage by procuring a product or service from a company that operates in another country.
- Which of the following would an organization employ if it outsourced a particular business function or department like information technology, accounting, research and development?
- _ is when an organization turns over processes such as Accounting, Human Resources, or Research and Development to an outside organization that specializes in these processes.
- Which of the following would an organization employ if all project deliverables and activities were the responsibility of an internal project team?
- _ is the procurement of products or services from an external vendor, supplier, or manufacturer.
- Cost-plus-fee, cost-plus-fixed-fee, and cost-plus-incentive-fee are all types of a
- Under this type of contract, a payment or reimbursement is made to seller to cover the sellers direct and indirect costs along with an additional fee added on as a profit to the seller.
- A __ is when a consulting firm bills the client for developing an application based on the amount of time and cost of materials to complete the work.
- A _ is when a consulting firm develops an application for a client at a negotiated price.
- A type of contract where the fixed price is negotiated or set as the final price for a specific product or service describes a: