What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller?

Question

Week 4 Midterm Exam

Midterm Set 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:
(TCO 5)To assess the impact of a contract on both the buyer and seller, an analysis of exposure can be completed. Categories analyzed in this exposure analysis include all of the following except:
(TCO 7) Issuing an RFP to only one vendor may be appropriate when:
(TCO 6)Factors that may affect the BPO agreement structure include all of the following except:
(TCO 3) How are the procurement responsibilities divided between the project manager and contract administrator?
(TCO 4) What is the difference between the Cost-Plus-Percentage-Fee (CPF) contract structure and the Cost-Plus-Fixed-Fee (CPFF) contract structure?
(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?
(TCO 8) What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller?
(TCO 7) Explain the purpose of an RFP. What are some common elements of an RFP?
(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 furnishing 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?
(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?


 

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