The approval of which of the following indicates formal initiation of the project?
A. Procurement management plan
B. Project management plan
C. Project scope document
D. Project charter
Final product transition is an output of which process?
A. Direct and Manage Project Execution
B. Close Project or Phase
C. Perform Integrated Change Control
D. Monitor and Control Project Work
Which contract type is typically used whenever the seller's performance period spans a considerable period of years?
A. Fixed-Price-Incentive-Fee contracts (FPIF)
B. Fixed Price with Economic Price Adjustment contracts (FP-EPA)
C. Cost-Plus-Fixed-Fee contracts (CPFF)
D. Time and Material contracts (TandM)
The project management information system is used as tools and techniques in which of the following processes?
A. Develop Project Charter
B. Develop Project Management Plan
C. Direct and Manage Project Execution
D. Monitor and Control Project Work
Negotiated Settlements are an example of a technique used in which Project Procurement Management Process?
A. Plan Procurements
B. Conduct Procurements
C. Administer Procurements
D. Close Procurements
Which project management process ensures the seller's performance meets procurement requirements and that the buyer performs according to the terms of the legal contract?
A. Plan Procurements
B. Perform Quality Assurance
C. Administer Procurements
D. Conduct Procurements
The degree of risk shared between the buyer and seller is determined by the:
A. contract type.
B. sponsors.
C. project manager.
D. stakeholders.
Company A bought a well-defined project deliverable from Company B Company A will pay a fixed total price plus a percentage premium for the schedule target achieved. For which type of contract have they subscribed?
A. Fixed-price-incentive-fee contracts (FPIF)
B. Firm-fixed-price-contracts (FFP)
C. Fixed price with Economic Price Adjustment Contracts (FP-EPA)
D. Time and material contracts (TandM)
Who decides buyer and seller roles in a teaming agreement?
A. Executive management
B. Project members
C. Project manager
D. Contract administrator
In which of the following contract types is a price ceiling set and any additional costs above the price ceiling becomes the responsibility of the performing organization?
A. Firm-Fixed-Price Contracts (FFP)
B. Fixed-Price-Incentive-Fee Contracts (FPIF)
C. Cost-Reimbursable Contracts
D. Time and Materials Contracts (TandM)
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