Ctrl + F is the shortcut in your browser or operating system that allows you to find words or questions quickly.
Ctrl + Tab to move to the next tab to the right and Ctrl + Shift + Tab to move to the next tab to the left.
On a phone or tablet, tap the menu icon in the upper-right corner of the window; Select "Find in Page" to search a question.
Share UsSharing is Caring
It's the biggest motivation to help us to make the site better by sharing this to your friends or classmates.
Involves the strategic sourcing and management of goods and services to meet needs efficiently and effectively, optimizing cost and supplier relationships.
An explanation of the fixed-price with incentive fee with price adjustment is defined as:
What types of clients are ‘Public Finance Initiatives’ most appropriate for?
A cost-reimbursable contract with award fee is explained as
Three - way match is the process of comparing purchase order
System that provides electronic creation and retention of requisition documents.
The store you would use for intra-departmental or intra-service transfer of funds for a good or service.
Close Procurements is different from Close Project or Phase in that Close Procurements:
One of the functions and responsibilitie of the HoPE is the creation of TWG.
A contract is an agreement made between two or more parties that is enforceable by law.
WMS system comprise of the following for Procurement, except:
Which of the following activities is an important element of effective contract administration?
Which of the following situation is required to get suppliers' comparison?
Many companies have a lawyer on staff to manage the procurement management.
Which one of these is an advantage of going to a 'Design and Build'?
Which two systems of procurement will generally have the greatest focus on TCO?
A cost-reimbursable contract with an incentive fee is explained as
Procurement can be defined as the process of acquiring
In some cases, contract termination refers to:
In the below situation, which one is required to issue a MRN in order to proceed for purchasing?
RFQ stands for
Goods and services are the output of _________ system
What materials do you need to choose between different products?
What is one of the KEY objectives during contract negotiations?
What is a key advantage of 'Two-Stage Tendering'?
Teaming agreements are not legal documents, they are formulated between team members only
Which of the following CAN you purchase with your GCPC?
A cost-reimbursable contract with a percentage fee is explained as
Project procurement management is defined as
Choose the correct word to match the definition: "items for sale, or possessions that can be moved"
Formal acceptance of goods and services:
•Those expenditures that are not supportive of the objectives and mission of the agency relative to the nature of its operation.
What are the important elements for selecting a non-trade supplier?
Define Supply management or supply-chain management as:
Which is not part of the governing principles of procurement?
Which of the following is an input to contract closeout?
The guaranteed profit type of contract for a third party supplier is the fixed cost contract.
Choose the correct word to match the definition: "something that has been added to a book, speech, or document"
The process of monitoring contract performance, making payments, and awarding contract modifications occurs during:
What is the role of the 'Employer's Agent' on Design and Build projects?
Using only words from the vocabulary list: "Well, if the ?????? doesn't pay, I'll have to pay for it myself."
At this stage, payment has been made to DFAS.
What is ‘Contractor’s Design Portion’ (CDP)?
Used to solicit proposals from prospective sellers
Complete this sentence: Any organization with a large indirect spend covering numerous categories is going to be a ___________.
____________ planning determines what to procure and when
Is a description of the work required for the procurement
Solicitation planning is documenting product requirements and identifying potential sources
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:
Give one example for direct procurement
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.
A ___________ becomes a key input to many of the processes within the project, and specifies the rules and agreements for the project.
Match the correct definition to "acquisition"
Where would you expect the client to state and capture their priority mix (Quality, Cost, Time, and Risk?)
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?
In WMS purchasing module, what is the data that imported from AX?
Needs recognition is a first step in consumer in buying behaviour is also called
During solicitation planning, the project team is responsible for:
Using only words from the vocabulary list:"You can even ?????? that you are looking for a specific person for the job."
Action lead time is the delay between the placing of a contractual order and receipt of the supplies purchased
Which term is not a common name for a procurement document that solicits an offer from prospective sellers?
Why is ‘Assessment Criteria’ important when tendering?
Which of the following activities occurs during Plan Procurements?
The Plan Procurements process includes consideration of the risks involved with each make-or-buy decision.
Define materials management as:
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:
When might you want a 'Schedule of Rates'?
An explanation of the fixed-price contract with price adjustment is defined as:
PROCUREMENT MANAGEMENT involves the sequence of ___________ that creates, manages and fulfils contracts
The procurement process is same for all business
Principles of procurement should include
Procurement is big business. In 2013, US firms spent how much on the procurement of goods and services?
A team is in the Plan Procurements process. Which of the following are they working on?
The buyer pays the supplier for allowable performance costs plus a predetermined fee and an incentive bonus
The store you would use to conduct a micro purchase.
A legally binding agreement between the govt and vendor:
Non-binding reservation of funds for a purchase:
According to the Latham Report, which of the following would be inappropriate if the objective was to achieve an 'Early Completion'?
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."
What website will you go to to certify the GCPC bank statement?
Ending a contract before the objectives have been met by either mutual agreement or breach is called:
An example of the contract price in a cost plus fixed fee (CPFF) contract is:
In a procurement context, what does "TCO" stand for?
Define Usage purchasing as:
In procurement management The _________ can be seen as a contractor, subcontractor, vendor or supplier
What are the four core deliverables of a Procurement Department?
When is a 'Single Tender' an appropriate procurement route?
What is the purpose of a 'Specification' in a Traditional Contract?
Define procurement as:
What is the minimum number of quotation to be prepared?
Type of contract were it involves a fixed total price for a well-defined product or service
In what situation a count adjustment is issued?
Contract closeout is a process that involves:
The company Heinz purchases tomatoes as input material for its production of ketchup. This is an example of what kind of procurement?
Requirements for formal acceptance and closure of the contract are usually defined in the:
The terms purchasing, procurement, supply, supply-chain and materials are all closely linked
For a trade purchase process in AX system, please fill in the blank as listed below:PO -> Receipt List -> ______ ->Pending Invoice -> Invoice
A cost-reimbursable contract with a fixed fee is explained as
When you want to do a stock transfer from MJ to YP, which module should you use in WMS?
Contract closeout and administrative closure are similar in that they both require:
________ administration is the managing of the relationship with the vendor.
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?
Who prepares the Purchase Request?
What is the primary difference between a 'Lump-Sum' and 'Cost-Reimbursement' Procurement route?
Using only words from the vocabulary list:"In the ?????? 1908-9 its income almost tripled, from £7,546 to £21,214."
The buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs
Procurement professionals are generally experts in the products and services they are buying.
Sellers are always external to the company performing the project.
From who would you and your supply shop request a GCPC? This person also manages your area overall GCPC program.
Means acquiring goods and/or services from an outside source
The terms purchasing, procurement, supply, supply-chain and materials are not closely linked
IBISWorld is most useful to a Procurement Department using the strategic approach at which three consecutive stages in the process?
Which term describes the failure by either the buyer or seller to perform part or all of the duties of the contract?
Using only words from the vocabulary list:"There was a consensual ?????? to stop the fight."
PhilGEPS stands for _______________________________.
Using only words from the vocabulary list: "Follow the instructions recommended by the ??????."
Which is not part of the Scope and Coverage of RA 9184
How much is the capitalization threshold of a procured tangible item per unit?
“Outlining the things to be done and the methods of doing them to accomplish the purpose set” [Luther Gulick]
_Feedback about my seminar
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 of the following are included in IBISWorld's Value Proposition for the Procurement product? Select all three that apply.
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:
What is the current GCPC micropurchase threshold?
What all is needed to gain access to iProcurement? Select all that apply.
Budget constraints are not considered when making make-or-buy decisions
IBISWorld reports mainly focus on which type of procurement?
Record keeping is a act of keeping of the history of person or organisation
What are some roles you can expect to see/interact with in regards to the GCPC program?
PROJECT PROCUREMENT deals with the _________or purchasing of goods and services
What are the two most important traits when involved with tendering?
Principle activities of procurement management are:
What innovations have been introduced by NEC Contracts to the construction industry?
Members of the TWG conduct the bid evaluation process.
Match the correct definition to "negotiation"
The buyer pays the supplier for allowable performance costs plus a predetermined percentage based on total costs
What is your role in regards to the GCPC program? I.e. the first line of defense in inproper use of the card.
What is the Republic Act # which is also known as the "Philippine Government Procurement Law?"
There are two main types of lead time:
With which type of contract is the seller MOST concerned about project scope?
Why commercial procurement/offline requisition is least preferred. _Select all that apply:
Activites not included in the coverage of RA 9184
Require the buyer to pay the seller a predetermined amount per unit of service
Which of the following is the BEST thing for a project manager to do in the Conduct Procurements process of procurement management?
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)
Hybrid of both fixed price and cost reimbursable contracts, often used by consultants
Requirements for inspection and acceptance are defined in the:
Acquiring goods and services for a project from outside the performing organization
If Ritma Premier wanted to do goods receiving, which system(s) should be used?
Is the cost at which the contractor assumes total responsibility for each additional dollar of contract cost
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
What is the first step in the standard bidding procedure for Goods, Infrastructure Projects, and Consulting Services
Match the correct definition to "drop shipment"
Source selection criteria are an output of which process?
All items, supplies, and materials except general support services, Consulting Services and Infrastructure Projects
Used to solicit quotes or bids from prospective suppliers
The type of contract that includes performance incentives is called:
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?
Identification of a requirement (no reservation of funds):
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
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?
Which statement below provides the best description of the procurement process?
An explanation of the a cost-reimbursable contract, with price adjustment is defined as:
In project procurement management, the performance data file consists of:
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 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?
Who is responsible for certifiying the cardholder's statement every month?
Which of the following two positions are most likely to describe tactical roles?
Administrative lead time is the interval between initiation of the procurement process and signing of contract and placing the order.
Is a document prepared by sellers providing pricing for standard items that have been clearly defined by the buyer
What are the documents that required for a new vendor to be created in the AX system?
Human want are
Who actually executes the GCPC purchases and is therefore responsible for the safeguarding of the GCPC?
What is the main purpose of the procurement audit?
Involve payment to the seller for direct and indirect costs
In the UK, what is the alternative to what was formerly used for Public Procurement (OJEU)?
To keep up this site, we need your assistance. A little gift will help us alot.
Donate- The more you give the more you receive.
Related SubjectLogistics
Project Management
Retail Merchandising
Property Management System
Communication
Professional Salesmanship
Inventory Production Control
Food Service Management
Retail Management
Quality Assurance Testing
Construction
Mathematics in the Modern World
The Dollar and Inflation
Management Accounting
Engineering Economincs
Lung Cancer Screening Awareness
Investment Strategies: Palantir Generational Stock
Investment
Finance Market
Entrepreneurship Information
Insurance
Emergency and Disaster Management
Venture Capital
Treasury Management
Security Analysis
Risk Management
Information Security and Management
Super Micro's Accounting Irregularities
Tax Accounting Assistant
Medical Office Administration
Health Care Office Manager
Risk Management Applied to Safety Security and Sanitation
Regulatory Framework and Legal Issues in Business
Shopee Cashback Voucher
Temu $0 Shipping Fee