CFM - Certified Facility Manager Procurement and Contract Management Flashcards
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Read the first 7 CFM - Certified Facility Manager Procurement and Contract Management flashcards as text
A facility manager conducting a vendor evaluation uses a weighted scoring matrix primarily to:
Answer: Objectively compare proposals across multiple criteria according to their relative importance
A weighted scoring matrix assigns numerical weights to criteria like quality, price, and experience, enabling objective, structured comparison of competing proposals.
In the context of facility management, 'spend analysis' is used to:
Answer: Identify purchasing patterns and opportunities to consolidate vendors or reduce costs
Spend analysis examines historical procurement data to uncover savings opportunities through vendor consolidation, volume discounts, or process improvement.
Which term describes the practice of awarding facility service contracts to vendors who meet minimum qualifications and then competing work among them?
Answer: Indefinite Delivery Indefinite Quantity (IDIQ) with task orders
IDIQ contracts establish a pool of qualified vendors; individual task orders are then competitively placed against that pool for specific services.
A liquidated damages clause in a facility construction contract specifies:
Answer: A predetermined daily penalty the contractor pays for failing to meet the completion date
Liquidated damages represent a pre-agreed compensation amount per day of delay, avoiding lengthy litigation to prove actual damages.
When a facility manager negotiates contract terms, the concept of 'most favored customer' pricing ensures:
Answer: The organization receives pricing at least as favorable as the vendor's best-priced customer
A most favored customer clause guarantees that the facility owner receives the vendor's lowest price offered to any comparable buyer.
During contract close-out, a facility manager should ensure all of the following EXCEPT:
Answer: Negotiating new scope additions to the expiring contract
Adding new scope to an expiring contract is inappropriate at close-out; new requirements should be addressed in a new or renewed contract.
A facility manager wants to ensure continuous competition and price benchmarking for ongoing services. The BEST contract strategy is to use:
Answer: Short-term contracts with option years rather than long fixed-term agreements
Short-term contracts with option years preserve the ability to re-compete while also providing continuity if the incumbent performs well, keeping pricing competitive.