The determination of the contract award date should be computed by doing the following:

Question 1 options:

1)

Working backward from the delivery date

2)

Working forward from the date the RFP was issued

3)

Working backward from the date the RFP was issued

4)

Working forward fromtheawarddate

Which of these is non-monetary damage?

Question 2 options:

1)

Liquidated damages 2)

Rescission

3)

Nominal damages 4)

Compensatorydamages

Which section of a seller's proposal outlines their understanding of the buyer's problem and their proposed approach or solution to the problem? Question 3 options:

1)

References section 2)

Financial section 3)

Technical section 4)

Managementsection

Under what relationship does an injured party first make every attempt to enforce performance on the principal, and only after that fails, may go after the party that has secondary liability for performance. Question 4 options:

1)

Surety

2)

Sponsor

3)

Guarantor

4)

ContractorSub-Contractor

Analytical techniques are used in conduct procurement to ________________________________.

Question 5 options:

1)

evaluate, analyze, or forecast potential outcomes based on possible variations of project or environmental variables 2)

ascertain where and how to best advertise an RFP 3)

ascertain whether trickery and being forced to engage in intense, high-pressure negotiations happened 4)

identify the responsiveness and qualification of sellers to deliver or perform the required products, services,orresults

Which section of a seller's proposal will outline their project organization? Question 6 options:

1)

Technical section 2)

References section 3)

Financial section 4)

Managementsection

A contract may include a clause that imposes a penalty on the project for late delivery of the completed system. Although the contract specifies a specific monetary penalty for delays, the key(s) to the issue is/are __________.

Question 7 options:

1)

whether the delays were necessary for safety 2)

who caused the delay (buyer or seller) and the nature of the interruption 3)

why the delay affected the delivery of the system 4)

whether the delay could be anticipated by theprojectmanager

When would you most likely procure the goods or services from outside of the project organization rather than producing them in-house?

Question 8 options:

1)

There are many reliable vendors for the goods and services that you are attempting to procure, but the vendors cannot achieve your level of quality. 2)

Your company has no excess capacity and cannot produce the goods or services

3)

Your company has a strong procurement department. 4)

Your company has excess capacity and can produce the goodsorservices.

Once signed, a contract is legally binding unless ________________________.

Question 9 options:

1)

it is in violation of applicable law 2)

it is declared null and void by either party's legal counsel 3)

one party is unable to finance its part of the work 4)

one party is unabletoperform

An FFP contract is usually sought by the customer's project manager when __________________.

Question 10 options:

1)

the project manager's company has excess production capacity 2)

the risk and consequences associated with the contracted project are high 3)

the customer is proficient at dealing with contracted project activities 4)

neither the customer's project manager nor the contractor understands the scopeofthetasks

Negotiations between two parties are becoming complex, so party A makes some notes that both parties sign. However, when the work is being done, party B claims that they are not required to provide an item they both agreed to during negotiations because it was not included in the subsequent contract. In this case, party B is _________________________.

Question 11 options:

1)

correct because there was an offer 2)

generally incorrect because all agreements must be upheld 3)

generally correct because both parties are only required to perform what is in the contract 4)

incorrect because both parties must comply with what theyagreedupon

Which one of these can a court choose to grant as an equitable remedy?

Question 12 options:

1)

Consequential

2)

Reformation

3)

Reliance

4)

Compensatory

The document that describes the details of a project task in terms of the physical characteristics and that places the risk of performance on the seller is called the _____________.

Question 13 options:

1)

design specification 2)

functional specification 3)

project specification 4)

billofmaterial

Rather than quarreling in court, two parties can specify upfront that any damages associated with a future breach of contract will be determined as a fixed amount or as a formula within the procurement agreement. What kind of damages are the parties agreeing to?

Question 14 options:

1)

Nominal damages 2)

Liquidated damages 3)

Compensatory damages 4)

Rescission

Find Answers to Above Questions. These questions are from the book Project Procurement Management: A Guide to Structured Procurements