Project Procurement Management

When is procurement typically used in a project?

• When external resources are needed

• When internal resources are sufficient

• Only during project closure

• When training new employees

Which of the following is another term for procurement in project management?

• Purchasing

• Recruitment

• Auditing

• Scheduling

How does procurement management reduce risks?

• By reducing project scope

• By eliminating vendor evaluations

• By avoiding all contracts

• By selecting reliable suppliers and managing contracts effectively

What is one key benefit of effective project procurement management?

• Increased project delays

• Reduced communication

• Increased stakeholder satisfaction

• Decreased project scope

Market research during procurement planning helps identify suitable vendors and understand industry pricing trends.

• TRUE

• FALSE

Which of the following is a correct component of a Procurement Management Plan?

• Internal training schedules

• A product backlog for the project

• Types of contracts to be used in procurement

• A list of team salaries

Which of the following activities is performed during the planning procurement process?

• Signing the contract with the selected vendor

• Identifying whether goods should be bought or made internally

• Closing all procurement activities

• Conducting team performance reviews

What are the main types of contracts used in project procurement

• Barter, Subscription, and Lease Contracts

• Fixed-Price Contracts

  Cost-Reimbursable Contracts

  Time and Materials (T&M) Contracts

Which type of contract gives the most cost certainty to the buyer?

• Fixed-Price Contract

• Cost-Reimbursable Contract

Which of the following is an example of a constructive change order?

• A purchase request

• A verbal agreement from a project manager with authority

• A formally signed amendment

• A scope statement draft