1. You are managing a 800 million-dollar highway project, which needs continuous purchase of cement for a period of five years. The cement needed is of regular quality, which your company keeps buying on a regular basis, for all their projects. Which method of source selection will be your preferred method of vendor selection: Select one: a. Quality based/highest technical proposal score b. Qualifications only c. Quality and cost-based d. Least cost 2. You are managing a 800-million-dollar highway project, which also needs constructing a building for the waiting facility midway through the highway's length. For Communications and Entertainment system in the facility, you have a budgetary limit of $2 million. In your tender document, you have published this information and also informed that you will be selecting the product with the best technical and quality specification within this budget. Which method of source selection have you used? Select one : a. Fixed Budget b. Quality and cost-based c. Qualifications only d. Quality based/highest technical proposal score 3. You are managing a 800-million-dollar highway project. Currently you have undertaken creating some beauty spots along the highway route, where the work will be done according to the design given by the city architecht. There is a possibility of frequent changes in the design and layout, as you go. What will be the ideal type of procurement contract in this case? Select one: a. Fixed Price Incentive Fee b. Cost plus percentage cost c. Firm Fixed Cost d. Time and Material 4. You are in the process of Risk PlanningOne of you notes states the risk of the new hardware not being compatible with the existing IT systems is a technical risk. The statement is talking about : Select one : a. Risk Tolerance b. Risk Appetite c. Risk Owner d . Risk Category 5. You are managing a 800 million-dollar highway project, which needs 100 litres of lubricants every 6 months. You made a short list of lubricant vendors based upon their reputation in the market and references you received form other project managers. Which method of source selection have you used? Select one: a. Qualifications only b. Qualitybased/highest technical proposal score c. Least cost d . Quality and cost-based 6. You have a team of 12 members. It is very likely that at least 2 of them will remain absent for a period of 15 days each. This needs to be provided for in your contingency estimates for the project. You will add the resources and the consequent cost impact in: Select one: a. Activity Cost Estimate b. Management Reserve c. Work Package Contingency Reserve d. Enterprise Emergency Fund 7. You are in the process of Risk Management PlanningOne of you notes states the financial risk of the new hardware not being compatible with the existing IT systems is very high. We can not take this risk because the adverse impact on our project budget will be impossible to mitigate". The statement is talking about Select one: a. Risk Category b. Risk Tolerance c. Risk Appetite d. Risk Owner. 8. Which procurement contract type carries the highest cost risk for the buyer ? Select one: a. Firm Fixed Cost b. Fixed Price Incentive Fee c. Cost plus percentage cost d. Time and Material 9. Manaswi has taken over as project manager of a $7 million project She wants to know the deliverables and expected results from vendors and suppliers. She should consult Select one a. The Statement of Works b. The vendor and supplier representative c. The Procurement Management Plan d. Contracts with vendors and suppliers 10. You are managing a 800-million-dollar highway project, which also needs constructing a building for the waiting facility midway through the highway's length. The building is of very regular and standard specification, as has been built at dozens of places across Ontario. You are negotiating a contract to construct this road overbridge through another company which specialises in road overbridge construction. Which one of the following will be your preferred type of contract, considering that you want to transfer your entire risk of the road overbridge to the contractor? Select one: a. Time and Material b. Firm Fixed Cost c. Fixed Price Incentive Fee d. Cost plus percentage cost 11. During the Qualitative Risk Analysis, a project team allocates a weight of 0.3 to a risk event. This will most likely Select one: a. move the to a lower level b. reduce the financial impact during quantitative analysis c. increase the financial impact during quantitative analysis d. move the risk to a higher level