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