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Procurement Management Flashcards

7 cards from real PMP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. What is the MAIN purpose of a procurement audit in the Close Procurements process?

    Answer: To identify successes and failures for lessons learned on future contracts

    Procurement audits systematically review the procurement process to identify successes and failures that can improve future procurement management.

  2. A project manager needs to purchase standard off-the-shelf software licenses. Which source selection criterion should be weighted MOST heavily?

    Answer: Price and licensing terms

    For commoditized, standard products, price and licensing terms are the dominant selection criteria since technical differentiation is minimal.

  3. Which document in procurement management describes the portion of the project scope that will be included in the contract?

    Answer: Procurement Statement of Work (SOW)

    The Procurement SOW defines the specific portion of project scope that the seller will be responsible for, giving them the information needed to bid or propose.

  4. A buyer has a contract dispute with a seller that cannot be resolved through negotiation. The contract stipulates arbitration. What does this mean?

    Answer: A neutral third party renders a binding decision without going to court

    Arbitration uses a neutral third-party arbitrator to hear both sides and render a binding decision, offering a faster and cheaper alternative to litigation.

  5. A project uses multiple vendors. One vendor's delay is causing another vendor's work to be impacted. Who is PRIMARILY responsible for managing this interface?

    Answer: The project manager, as the buyer, must manage the interface between vendors

    The project manager is responsible for managing the interfaces between multiple vendors since each vendor's contract is with the buyer, not with each other.

  6. What is the role of the Procurement Management Plan output from Plan Procurement Management?

    Answer: It guides how procurement processes will be executed, monitored, and closed throughout the project

    The Procurement Management Plan is a subsidiary plan that describes how procurement processes will be managed from planning through contract closure.

  7. During vendor evaluation, two proposals score equally on technical criteria. How should the project manager break the tie?

    Answer: Apply the pre-defined weighting criteria and secondary evaluation factors established before proposals were received

    Pre-defined weighting and secondary criteria established before evaluation ensures objectivity and fairness when scores are tied.