Questions and Answers
What is the purpose of the procurement management plan?
To determine whether to build or buy a solution
Which type of contract is where the client pays a fixed price regardless of the effort or time required?
Fixed-price contract
How does a cost-reimbursable contract affect the profit of the contractor as the effort increases?
The contractor's profit stays the same as the effort increases
What is the main purpose of a make-or-buy analysis in procurement planning?
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Which type of contract is where the client pays for the time spent and the materials used?
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What is the first step in procurement management?
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At what stage should you determine the types of contracts suitable for your project?
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What is the purpose of the procurement management plan?
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At what stage do you send out contract requirements to potential sellers?
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What is the final step in procurement management?
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