PMI Procurement & SOW Development 3

Question 1

A project manager is evaluating contract types for a research project with highly uncertain scope. Which contract type best protects the buyer from bearing all risk?

Accepted Answer

Cost Plus Fixed Fee (CPFF)

Answer

CPFF reimburses actual costs and pays a fixed fee, limiting buyer exposure while acknowledging the uncertain scope — but the seller has reduced incentive to control costs.

Question 2

Which element of a SOW describes the quality standards, codes, regulations, and industry norms the deliverables must conform to?

Accepted Answer

Applicable standards and regulations

Answer

The applicable standards and regulations section specifies the codes, standards, and legal requirements the seller's work and deliverables must meet.

Question 3

During source selection, a proposal evaluation team scores a vendor high on technical merit but low on price. Which source selection method best balances these factors?

Accepted Answer

Best value continuum

Answer

The best value continuum allows trade-offs between technical merit and price, so the organization can pay more for superior technical capabilities when justified.

Question 4

A project manager learns a key subcontractor used by the prime vendor has filed for bankruptcy. Which contract clause gives the buyer the right to approve subcontractors and their replacements?

Accepted Answer

Consent to subcontract clause

Answer

A consent to subcontract clause requires the seller to obtain buyer approval before assigning work to subcontractors or replacing them.

Question 5

What is the primary purpose of the pre-bid conference (bidder's conference) in the procurement process?

Accepted Answer

To ensure all prospective sellers have a common understanding of the procurement requirements

Answer

A bidder's conference allows all prospective sellers to ask questions simultaneously, ensuring they all receive the same information and have a uniform understanding of requirements.

(PMI) Project Management Institute Certified Practice Test

(PMI) Project Management Institute Certified Practice Test

PMI Procurement & SOW Development 3