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Involves the strategic sourcing and management of goods and services to meet needs efficiently and effectively, optimizing cost and supplier relationships.
Which term describes those costs in a contract that are associated with two or more project but are not traceable to each of them individually?
Procurement can be defined as the process of acquiring
In procurement management The _________ can be seen as a contractor, subcontractor, vendor or supplier
There are two main types of lead time:
Which of the following two positions are most likely to describe tactical roles?
For a trade purchase process in AX system, please fill in the blank as listed below:PO -> Receipt List -> ______ ->Pending Invoice -> Invoice
From who would you and your supply shop request a GCPC? This person also manages your area overall GCPC program.
Which of the following is the BEST thing for a project manager to do in the Conduct Procurements process of procurement management?
What is the Republic Act # which is also known as the "Philippine Government Procurement Law?"
One of the functions and responsibilitie of the HoPE is the creation of TWG.
The type of contract that includes performance incentives is called:
Close Procurements is different from Close Project or Phase in that Close Procurements:
Who prepares the Purchase Request?
Teaming agreements are not legal documents, they are formulated between team members only
The terms purchasing, procurement, supply, supply-chain and materials are all closely linked
The buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs
A _________ _________ assessment helps to identify and evaluate the vendor options available, and enables you to make more informed decisions for supplier selection (the answer is two words)
What innovations have been introduced by NEC Contracts to the construction industry?
Which of the following activities is an important element of effective contract administration?
Administrative lead time is the interval between initiation of the procurement process and signing of contract and placing the order.
Procurement professionals are generally experts in the products and services they are buying.
Type of contract were it involves a fixed total price for a well-defined product or service
What are some roles you can expect to see/interact with in regards to the GCPC program?
Which one of these is an advantage of going to a 'Design and Build'?
Require the buyer to pay the seller a predetermined amount per unit of service
An explanation of the fixed-price contract with price adjustment is defined as:
If Ritma Premier wanted to do goods receiving, which system(s) should be used?
Which is not part of the Scope and Coverage of RA 9184
What is the purpose of a 'Specification' in a Traditional Contract?
The buyer pays the supplier for allowable performance costs plus a predetermined fee and an incentive bonus
How much is the capitalization threshold of a procured tangible item per unit?
Which of the following situation is required to get suppliers' comparison?
The company Heinz purchases tomatoes as input material for its production of ketchup. This is an example of what kind of procurement?
Which of the following terms is an expression by one party of its compliance to certain terms in the contract provided that the other party expresses its compliance to the identical terms?
IBISWorld is most useful to a Procurement Department using the strategic approach at which three consecutive stages in the process?
Which two systems of procurement will generally have the greatest focus on TCO?
An explanation of the a cost-reimbursable contract, with price adjustment is defined as:
Used to solicit proposals from prospective sellers
Contract closeout is a process that involves:
What is the current GCPC micropurchase threshold?
Is the cost at which the contractor assumes total responsibility for each additional dollar of contract cost
Project procurement management is defined as
With which type of contract is the seller MOST concerned about project scope?
What is the minimum number of quotation to be prepared?
Why commercial procurement/offline requisition is least preferred. _Select all that apply:
PROCUREMENT MANAGEMENT involves the sequence of ___________ that creates, manages and fulfils contracts
What is a key advantage of 'Two-Stage Tendering'?
Which term describes the failure by either the buyer or seller to perform part or all of the duties of the contract?
Contract type selection is dependent on the degree of risk or uncertainty facing the project manager. From the perspective of the buyer, preferred contract type in a low risk situation is:
____________ planning determines what to procure and when
General management technique used to determine whether an organization should make or perform a particular product or service inside the organization or buy from someone else
Ending a contract before the objectives have been met by either mutual agreement or breach is called:
You are executing a project for a client when they contact you to say they are terminating the contract for convenience. Because of this, the project is now in:
At this stage, payment has been made to DFAS.
The procurement process is same for all business
PhilGEPS stands for _______________________________.
What is the first step in the standard bidding procedure for Goods, Infrastructure Projects, and Consulting Services
Requirements for formal acceptance and closure of the contract are usually defined in the:
What are the four core deliverables of a Procurement Department?
Using only words from the vocabulary list:"There was a consensual ?????? to stop the fight."
According to the Latham Report, which of the following would be inappropriate if the objective was to achieve an 'Early Completion'?
What is one of the KEY objectives during contract negotiations?
RFQ stands for
The Plan Procurements process includes consideration of the risks involved with each make-or-buy decision.
Acquiring goods and services for a project from outside the performing organization
Choose the correct word to match the definition: "items for sale, or possessions that can be moved"
•Those expenditures that are not supportive of the objectives and mission of the agency relative to the nature of its operation.
What types of clients are ‘Public Finance Initiatives’ most appropriate for?
What is the main purpose of the procurement audit?
What materials do you need to choose between different products?
What are the important elements for selecting a non-trade supplier?
Human want are
The _________-price contract is a legal agreement between the organisation and an entity to provide goods or services to the project at an agreed-on price.
A cost-reimbursable contract with a percentage fee is explained as
A cost-reimbursable contract with a fixed fee is explained as
The guaranteed profit type of contract for a third party supplier is the fixed cost contract.
When is a 'Single Tender' an appropriate procurement route?
Sellers are always external to the company performing the project.
All items, supplies, and materials except general support services, Consulting Services and Infrastructure Projects
Is a document prepared by sellers providing pricing for standard items that have been clearly defined by the buyer
Means acquiring goods and/or services from an outside source
In the UK, what is the alternative to what was formerly used for Public Procurement (OJEU)?
In the below situation, which one is required to issue a MRN in order to proceed for purchasing?
In project procurement management, the performance data file consists of:
________ administration is the managing of the relationship with the vendor.
Action lead time is the delay between the placing of a contractual order and receipt of the supplies purchased
When might you want a 'Schedule of Rates'?
Used to solicit quotes or bids from prospective suppliers
Which of the following is an input to contract closeout?
What all is needed to gain access to iProcurement? Select all that apply.
What website will you go to to certify the GCPC bank statement?
Define Usage purchasing as:
What are the documents that required for a new vendor to be created in the AX system?
An explanation of the fixed-price with incentive fee with price adjustment is defined as:
Principles of procurement should include
Using only words from the vocabulary list: "Well, if the ?????? doesn't pay, I'll have to pay for it myself."
A ___________ becomes a key input to many of the processes within the project, and specifies the rules and agreements for the project.
An example of the contract price in a cost plus fixed fee (CPFF) contract is:
The store you would use for intra-departmental or intra-service transfer of funds for a good or service.
Members of the TWG conduct the bid evaluation process.
Define materials management as:
The terms purchasing, procurement, supply, supply-chain and materials are not closely linked
During solicitation planning, the project team is responsible for:
Which common Procurement Department issue matches the following description:"Because there is no one else providing procurement research, much of the research companies do themselves tends not to be formalized; each person researching gets information from different sources and operates on different assumptions. Often the research that people do use is authored by suppliers and is therefore not independent."
Complete this sentence: Any organization with a large indirect spend covering numerous categories is going to be a ___________.
Using only words from the vocabulary list: "Follow the instructions recommended by the ??????."
Budget constraints are not considered when making make-or-buy decisions
Which of the following CAN you purchase with your GCPC?
A contract is an agreement made between two or more parties that is enforceable by law.
WMS system comprise of the following for Procurement, except:
Why is ‘Assessment Criteria’ important when tendering?
“Outlining the things to be done and the methods of doing them to accomplish the purpose set” [Luther Gulick]
The store you would use to conduct a micro purchase.
Which is not part of the governing principles of procurement?
Many companies have a lawyer on staff to manage the procurement management.
System that provides electronic creation and retention of requisition documents.
Contract closeout and administrative closure are similar in that they both require:
What is the primary difference between a 'Lump-Sum' and 'Cost-Reimbursement' Procurement route?
Three - way match is the process of comparing purchase order
Solicitation planning is documenting product requirements and identifying potential sources
IBISWorld reports mainly focus on which type of procurement?
A cost-reimbursable contract with award fee is explained as
A legally binding agreement between the govt and vendor:
What is ‘Contractor’s Design Portion’ (CDP)?
A team is in the Plan Procurements process. Which of the following are they working on?
Which term is not a common name for a procurement document that solicits an offer from prospective sellers?
Is a description of the work required for the procurement
When you want to do a stock transfer from MJ to YP, which module should you use in WMS?
Which statement below provides the best description of the procurement process?
Procurement is big business. In 2013, US firms spent how much on the procurement of goods and services?
Match the correct definition to "negotiation"
Is a mutually binding agreement that obligates the seller to provide the specified products or services and obligates the buyer to pay for them
In some cases, contract termination refers to:
Source selection criteria are an output of which process?
Formal acceptance of goods and services:
Choose the correct word to match the definition: "something that has been added to a book, speech, or document"
PROJECT PROCUREMENT deals with the _________or purchasing of goods and services
In the context of procurement, research and best practices show that the bulk of savings opportunities are available in the final phases of the buying process. True or False?
Involve payment to the seller for direct and indirect costs
Non-binding reservation of funds for a purchase:
A cost-reimbursable contract with an incentive fee is explained as
Using only words from the vocabulary list:"You can even ?????? that you are looking for a specific person for the job."
The process of monitoring contract performance, making payments, and awarding contract modifications occurs during:
In a procurement context, what does "TCO" stand for?
A make-or-buy analysis is a general management technique used to determine whether particular work can be best accomplished by the project team or must be purchased from outside sources
Which of the following activities occurs during Plan Procurements?
Record keeping is a act of keeping of the history of person or organisation
Who actually executes the GCPC purchases and is therefore responsible for the safeguarding of the GCPC?
Match the correct definition to "acquisition"
By concentrating more effort on the earlier stages of the procurement process, organizations can realize more value from their efforts - for example, more robust relationships with suppliers or superior contract terms. This is known as what kind of approach?
Goods and services are the output of _________ system
Identification of a requirement (no reservation of funds):
What is your role in regards to the GCPC program? I.e. the first line of defense in inproper use of the card.
Define Supply management or supply-chain management as:
Who is responsible for certifiying the cardholder's statement every month?
What is the role of the 'Employer's Agent' on Design and Build projects?
Some purchases include items that contain or transmit data/information. What website/organization would you need to get an authorization from to procure these items?
In WMS purchasing module, what is the data that imported from AX?
What are the two most important traits when involved with tendering?
Define procurement as:
The buyer pays the supplier for allowable performance costs plus a predetermined percentage based on total costs
A procurement contract will include terms and conditions, and may incorporate other items that the buyer specifies to establish what the seller is to provide or perform.
Requirements for inspection and acceptance are defined in the:
In what situation a count adjustment is issued?
Hybrid of both fixed price and cost reimbursable contracts, often used by consultants
Activites not included in the coverage of RA 9184
Needs recognition is a first step in consumer in buying behaviour is also called
Using only words from the vocabulary list:"In the ?????? 1908-9 its income almost tripled, from £7,546 to £21,214."
Give one example for direct procurement
Which of the following are included in IBISWorld's Value Proposition for the Procurement product? Select all three that apply.
Where would you expect the client to state and capture their priority mix (Quality, Cost, Time, and Risk?)
_Feedback about my seminar
Match the correct definition to "drop shipment"
IBISWorld helps Procurement Departments obtain cost savings at the crucial initial phases of the buying process. IBISWorld's Procurement Research can also help companies obtain cost savings by:
Principle activities of procurement management are:
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