14 Jan financial capacity of seller
PROJ598 Contract and Procurement Management
Week 3 Quiz
Question 1 (TCO B) All of the below would be considered good selection criteria for a buyer to use to select a seller, except
financial capacity of seller, overall cost, and warranty offered by seller.
managerial approach of seller, references of seller, and ability of seller to make a reasonable make-or-buy decision.
past work done by seller, intellectual property rights, and risk associated with a given seller.
technical capability of seller, understanding of work by seller, and business type of seller.
Question 2 (TCO A) According to the PMBOK® Guide, there are four processes in the procurement area. Describe and explain these four processes in the procurement management process for the buyer.
Question 3 (TCO C) Compare and contrast a firm fixed-price contract with a time and materials contract. When would each be appropriate for a given project?
Question 4 (TCO D) Compare and contrast an RFP, an IFB, and an RFI. When would each best be used in procuring goods or services?
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