CAPM Procurement Management 5

Question 1

A project team needs to purchase 500 standard office chairs. Which procurement document is most appropriate?

Accepted Answer

Request for Quotation (RFQ)

Answer

An RFQ is used when price is the primary decision factor for purchasing standard, well-defined commodities or small-dollar items.

Question 2

Which of the following best describes 'independent estimates' as used in the Conduct Procurements process?

Accepted Answer

Cost estimates prepared by the project team to validate seller proposals

Answer

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.

Question 3

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:

Accepted Answer

Claim

Answer

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.

Question 4

What is the key difference between a warranty and an acceptance criterion in procurement?

Accepted Answer

Acceptance criteria define when a deliverable is approved; warranties cover defects after acceptance

Answer

Acceptance criteria determine whether a deliverable meets requirements at delivery, while warranties provide assurance that the deliverable will continue to perform correctly after acceptance.

Question 5

When should a project manager consider using sole-source procurement instead of competitive bidding?

Accepted Answer

When only one qualified seller exists or when emergency conditions require it

Answer

Sole-source procurement (non-competitive) is justified when only one vendor has a unique capability, when emergency conditions exist, or when competition is impractical.

CAPM Practice Test

CAPM Practice Test

CAPM Procurement Management 5