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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.

Read the first 7 Procurement Management flashcards as text

  1. A project manager receives a change request from the seller claiming scope was unclear in the original SOW. What is the FIRST step?

    Answer: Review the original SOW and contract to assess if the claim is valid

    Reviewing the original SOW and contract terms is the first step to determine whether the claimed ambiguity actually exists before taking any action.

  2. Which of the following is an example of a NON-competitive procurement method?

    Answer: Sole source procurement from a single vendor

    Sole source procurement bypasses competition by directly selecting a single vendor, typically justified by unique expertise, urgency, or proprietary requirements.

  3. What does 'privity of contract' mean in project procurement?

    Answer: The direct legal relationship between the contracting parties, excluding third parties

    Privity of contract means only the parties directly named in the contract have legal rights and obligations under it, which is why PMs manage vendor-to-vendor interfaces.

  4. A contract includes a clause that allows either party to terminate the agreement with 30 days written notice. This is BEST described as:

    Answer: A termination for convenience clause

    Termination for convenience allows either party to end the contract without cause by providing the required notice period.

  5. A project manager is using a weighting system to evaluate proposals. Vendor A scores 85 on technical merit and 70 on price; Vendor B scores 70 on technical merit and 90 on price. Technical merit is weighted 60% and price 40%. Which vendor scores higher overall?

    Answer: Vendor A with a score of 79

    Vendor A: (85×0.6)+(70×0.4)=51+28=79; Vendor B: (70×0.6)+(90×0.4)=42+36=78; Vendor A scores higher at 79.

  6. Which document formally records that the buyer has accepted the seller's deliverable and signals that the contract work is complete?

    Answer: Formal Acceptance Document

    A Formal Acceptance Document (or letter of acceptance) is the buyer's written confirmation that deliverables meet requirements and formally initiates the contract closure process.

  7. When should a project manager consider using a Cost Plus Award Fee (CPAF) contract?

    Answer: When work quality is subjective and the buyer wants to incentivize exceptional performance beyond minimum requirements

    CPAF is ideal when performance quality is somewhat subjective, allowing the buyer to award a fee based on their satisfaction with the seller's performance above baseline.