5. AGantt Chart is a written or pictorial document that describes, defines, or specifies the services...
5. AGantt Chart is a written or pictorial document that describes, defines, or specifies the services or items to be procured. True or False
6.According to the textbook, the five steps necessary to create a budget for a procurement are the following: 1. Get estimates 2. Combine estimates 3. Add all task estimates 4. Determine contingency 5. Present budget True or False
7.The procurement milestones are: 1. Kick-off Meeting 2. Procurement plan 3. Solicitation 4. RFP process 5. Proposal analysis 6. Negotiations 7. Contract finalization 8. Notification of unsuccessful suppliers 9. Contract administration True or False
8.Some of the forms of communication in today's world are the followng: 1. face-to-face 2. Hard copy letters, reports, etc. 3. Shared files (on servers) 4. Telephone 5. Email 6. Video Conferences 7. Texting 8. Voice Over Internet Portocol (Skype) 9. Instant messaging and more. True or False
9Contract risk and procurement risk are the two different types of risk that you can encounter in a procurement. True or False
10According to the PMBOk, the five process groups that found within project management are: * Initiating * Planning * Executing * Risk * Closing True or False
11When writing and evaluating procurements proposals, it is important that the project be linked to the strategic needs of the organization. True or False
12The Request for Procurement Services (RFPS) shall include the following information: 1. Date 2. Requestor name 3. Adress 4. Contact information 5. Description of procurement 6. Date required 7. Suggested vendors 8. Sole-sourse justification 9. Scope of service 10. Requestor approval True or False
13A conflcit of interest is not ussually an issue with project procurement. True or False
14According to the textbook, a schedule can be developed using the 80/20 rule, which is also known as the Pareto principle. True or False
15The purpose of the communications plan is to document who is assigned to the procurement, each person's role and responsability, the types and frequency of meetings, who should attend meetings, change control, and the methods of communication. True or False
16The four basic steps of a risk management plan are: identifying risks, analyzing risks, prioritizing risks, and risk response planning. True or False
17The contractual statement of work document is a definition of of the contractoed work for government contracts only. True or False
18Effective project communications ensure that we get the right information to the right person at the right time and in a cost effective manner True or False
19Some of the skills that are needed to be a successful procurement manager are the following: 1. Purchasing Fundamentals 2. Analysis and Spreadsheets 3. Contract Law 4. Project Management 5. Purchasing Best Practices 6. Sourcing 7. Negotiation 8. Leadership 9. International Business 10. Financial acumen 11. Supplier relationship management True or False
20The best method for budgeting is a combination of the bottom-up and top-down budgeting methods True or False
Homework Answers
Answering the first four questions as per Chegg policy
Answer 1: FALSE
Explanation: A Gantt chart illustrates a project schedule, not a procurement.
Answer 6: TRUE
Explanation: According to the textbook, the five steps necessary to create a budget for procurement are the following: 1. Get estimates 2. Combine estimates 3. Add all task estimates 4. Determine contingency 5. Present budget
Answer 17: TRUE
Explanation: The procurement milestones are: 1. Kick-off Meeting 2. Procurement plan 3. Solicitation 4. RFP process 5. Proposal analysis 6. Negotiations 7. Contract finalization 8. Notification of unsuccessful suppliers 9. Contract administration
Answer 4: TRUE
Explanation: The forms of communication in today's world are the following: 1. face-to-face 2. Hard copy letters, reports, etc. 3. Shared files (on servers) 4. Telephone 5. Email 6. Video Conferences 7. Texting 8. Voice Over Internet Protocol (Skype) 9. Instant messaging.
Add Answer to:
5. AGantt Chart is a written or pictorial document that
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please answer 3. In a pure construction management approach the construction manager usually guarantees the overall...
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please answer
3. In a pure construction management approach the construction manager usually guarantees the overall price of the project _True False 4. In a guaranteed maximum price (GMP) contract, costs above the GMP are covered by the contractor. _True False 5. A unit-price contract provides an owner with price competition while still allowing for an increase or decrease in actual versus estimated quantities. True - False 6. When assessing the risks applicable to a project, one must also look...
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4. The Owner's ability to influence design and cost is highest at the construction phase. a. True b. False 5. The conceptual estimate is useful in the schematic design phase when design details are not available. a. True b. False 6. A Cost-Plus contract is considered a reimbursable type of contract. c. True d. False 7. An advantage of a Lump Sum Contract is that the owner assumes the risk of construction cost. e. True f. False 8. A Design-Bid-Build...
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Across 4 Only one party makes a promise. 5 A promise made by the insured that is part of the contract. 7 A type of risk that cannot be insured against. 12 Filing a false claim on an insurance policy is reflected in this type of hazard. 13 The amount of money the insured has to pay before the insurance company pays anything. 15 A change to an insurance policy is called a 17 Those who need insurance the most...
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