PROJ 410 PROJ410 Midterm Answers (DeVry)

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PROJ 410 PROJ410 Midterm Answers (DeVry)

1. (TCO 2) An offshoot of business process outsourcing which requires a greater skill or knowledge of the industry or inner workings of a firm is: ______.
2. (TCO 5) Negotiations in a BPO agreement are largely determined by which factor?
3. (TCO 7) Issuing an RFP to only one vendor may be appropriate when: _____.
4. (TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______.
5. (TCO 3) What activities is the contract administrator responsible for in a contract situation? What about the project manager?
6. (TCO 4) What is the difference between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF) contract structures?
7. (TCO 6) Sometimes, a seller is selected based solely on lowest price. However, sometimes this is not always the most efficient or effective way of selecting a seller. What are some of the other evaluation criteria that a buyer may use to help select a seller?
8. (TCO 8) Explain how a weighted system is used to help score potential sellers’ proposals.
9. (TCO 7) Explain the purpose of an RFP. What are some common elements of an RFP?
10. (TCO 2) Part 1: Explain the various steps of the project procurement process. Part 2: Using the simple decision of packing and moving your home furnishings from the East Coast to the West Coast, provide an example of what you would do under each of the six steps of the project procurement process. Part 3: The buyer determines the contract pricing structure during which step of the project procurement process?
11. (TCO 1) Part 1: What are the four contract pricing structures available? Part 2: Describe the appropriate utilization of each and the impact of risk to the buyer and seller. Part 3: What contract pricing structure would you use if you had little to no scope defined?
12. (TCO 3) Identify and describe the benefits that outsourcing logistics will bring to the organizations.
13. (TCO 1) List and describe the directives to consider the process of outsourcing if you are a manager responsible for the business process.