PMP Procurement Management 3

Question 1

Which procurement document is MOST appropriate when the buyer wants vendors to propose innovative solutions?

Accepted Answer

Request for Proposal (RFP)

Answer

An RFP allows vendors to propose their own approach and solution, making it ideal when innovation and technical approach matter more than just price.

Question 2

A project manager is closing a contract and discovers the vendor met all deliverables but a key stakeholder is dissatisfied. What should the project manager do?

Accepted Answer

Close the contract since requirements were met, then address satisfaction through lessons learned

Answer

If contractual obligations were met, the contract should be formally closed; stakeholder satisfaction issues should be documented in lessons learned for future procurements.

Question 3

What distinguishes a Firm Fixed Price (FFP) contract from a Fixed Price with Economic Price Adjustment (FP-EPA)?

Accepted Answer

FP-EPA includes pre-defined adjustments for inflation or economic conditions over long contract periods

Answer

FP-EPA contracts include pre-defined clauses that allow price adjustments based on external economic factors, useful for multi-year contracts.

Question 4

A project manager discovers a potential conflict of interest when a team member evaluating proposals has a personal relationship with one of the vendors. What is the BEST course of action?

Accepted Answer

Remove the team member from the evaluation process and document the action

Answer

Removing the team member from evaluation and documenting the conflict of interest protects procurement integrity and is the most direct corrective action.

Question 5

Which process involves tracking contract performance, making payments, and managing changes to ensure both buyer and seller meet obligations?

Accepted Answer

Control Procurements

Answer

Control Procurements monitors contract performance, processes payments, manages changes, and ensures both parties fulfill their obligations.

PMP - Project Management Professional Practice Test

PMP - Project Management Professional Practice Test

PMP Procurement Management 3