Procurement Management Flashcards
7 cards from real CAPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Procurement Management flashcards as text
A project team needs to purchase 500 standard office chairs. Which procurement document is most appropriate?
Answer: Request for Quotation (RFQ)
An RFQ is used when price is the primary decision factor for purchasing standard, well-defined commodities or small-dollar items.
Which of the following best describes 'independent estimates' as used in the Conduct Procurements process?
Answer: Cost estimates prepared by the project team to validate seller proposals
Independent estimates (also called should-cost estimates) are prepared by the buyer's team to serve as a benchmark for evaluating seller pricing and identifying unreasonable bids.
A project manager discovers that a contractor has submitted a request for equitable adjustment after a government regulation changed the project requirements. This request is best classified as a:
Answer: Claim
A request for equitable adjustment is a type of claim where the seller seeks compensation for additional costs caused by buyer-directed changes or external events beyond the seller's control.
What is the key difference between a warranty and an acceptance criterion in procurement?
Answer: Acceptance criteria define when a deliverable is approved; warranties cover defects after acceptance
Acceptance criteria determine whether a deliverable meets requirements at delivery, while warranties provide assurance that the deliverable will continue to perform correctly after acceptance.
When should a project manager consider using sole-source procurement instead of competitive bidding?
Answer: When only one qualified seller exists or when emergency conditions require it
Sole-source procurement (non-competitive) is justified when only one vendor has a unique capability, when emergency conditions exist, or when competition is impractical.
Which output of the Close Procurements process provides historical information useful for future projects?
Answer: Closed procurements documentation
Closed procurements documentation, including the final contract with all supporting schedules and accepted deliverables, becomes part of organizational process assets for future reference.
A project manager is evaluating whether to hire a specialized IT firm or use internal staff for a system integration task. Capacity, cost, and strategic value are all being considered. Which tool is being applied?
Answer: Make-or-buy analysis
Make-or-buy analysis weighs factors such as cost, capacity, strategic importance, and risk to determine whether work should be performed internally or outsourced.