21) B It is the relationship of procurement action with environment of project s

Question

21) B

It is the relationship of procurement action with environment of project strategy

22) D

The contract administration procedures are important to determine the contract terms and conditions. The Solicitation cycle is crucial which involves identification stage, cultivation stage and solicitation stage for vendor development

23) E

All the above are valid buying options. The rent is contract for time duration. Make is to manufacture and build

24) B

In express warranty, seller takes the guarantee wither orally and verbally to confirm that product will meet the requirement as intended

Explanation / Answer

nl The relationship of specific procurement actions to the environment of the project strategy is a. Project risk strategy b. Project procurement strategy c. d. e. Project planning strategy Project action strategy None of the above Which of the following are part of a project's microprocurement environment a. b. c· d. e. The contract administration procedures The solicitation cycle The selection of the project manager a and b a andc 23 Which of the following are legitimate buying alternatives? a. Make b. Lease c. Rent d. e. Capital lease All of the above 4 The buyer of a product requests information from the seller that the product is properly suited for the buyer's intended use. The buyer informs the seller of the parameters of performance that he intends to achieve. The buyer telies upon the expertise of the seller to confirm that the par- ticular product will meet the buyer's requirements. This would be an example of an a. Implied warranty b Express warranty c. d. e. Waiver Quality control issue Breach of contract In which of the following circumstance(s) would you most likely buy the goods or services in- stead of producing them in-house? · a. Your company has excess capacity and your company can produce the good or service b. Your company has no excess capacity and cannot produce the good or service c. There are not many reliable vendors for the good or service that you are attempting to pro- d. a and b e. a and Which of the following is not a step in the requirements cycle? a. Authorization/approval of the requirements b. Make or buy decision c. Select the vendor(s) d. Develop the statement of work/specifications e. All are steps in the requirements cycle

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