PROJ 598 Contract and Procurement Management

DeVry
PROJ 598 Week 1 DQ 1 Overview of the Project Procurement Processes
PROJ 598 Week 1 DQ 2 Building Trust
PROJ 598 Week 2 Project Assignment: Part I (PP1) - RFP Section 1
PROJ 598 Week 2 DQ 1 Contract Risk
PROJ 598 Week 2 DQ 2 Why Do We Need Contracts
PROJ 598 Week 3 Quiz
PROJ 598 Week 3 DQ 1 Bid v. No Bid
PROJ 598 Week 3 DQ 2 Potential Conflict - Buyers & Sellers
PROJ 598 Week 4 Project Assignment: Project Part II (PP2) - Complete RFP
PROJ 598 Week 4 DQ 1 Contract Pricing
PROJ 598 Week 4 DQ 2 Source Selection
PROJ 598 Week 5 The Award Phase - You Decide
PROJ 598 Week 5 DQ 1 Best Practices
PROJ 598 Week 5 DQ 2 Negotiating Case Study
PROJ 598 Week 6 Project Assignment: Project Part III (PP3) - Formal Proposal Submission
PROJ 598 Week 6 DQ 1 Getting the Job Completed
PROJ 598 Week 6 DQ 2 World Class PMO
PROJ 598 Week 7 Negotiation Exercise
PROJ 598 Week 7 DQ 1 The Uniform Commercial Code
PROJ 598 Week 7 DQ 2 I'd like to give some advice to
PROJ 598 Week 8 Final Exam

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PROJ 598 Entire Course Guide Week 1 - 8
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PROJ 598 Full Course Project Week 2, 4, 6 Tutorial
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PROJ 598 Week 2 Course Project; Part I (PP1) - RFP Section 1
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PROJ 598 Week 4 Course Project; Project Part II (PP2) - Complete RFP
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PROJ 598 Week 6 Course Project; Project Part III (PP3) - Formal Proposal
Submission
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PROJ 598 Week 7 Assignment: A Negotiations Case
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PROJ 598 All Discussion Questions Week 1 - 7

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PROJ 598 Week 3 Quiz Solutions
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1. (TCO A) What are the four common actions that winning organizations are taking to build
successful partnerships?
2. (TCO A) Which of the following common actions used by winning companies to build
successful partnerships would involve strategic sourcing agreements, back-sourcing
arrangements, joint-equity partnerships, preferred supplier agreements, and customer
agreements?
3. (TCO B) What are some of the best practices for building trust?
4. (TCO A) Describe and explain the six steps in the contract management process for the buyer.
Make sure to define each of the three phases of the process.

PROJ598 Week 8 Final Exam Solutions

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Page 1
1. (TCO H) What is the maximum value of a verbal contract? (Points : 5)
2. (TCO F) Which is not part of the award phase of the contract management process?(Points : 5)
3. (TCO D) What are two major types of authority applicable to a contract manager/project
manager? Briefly explain each of these authorities. (Points : 16)
4. TCO A) Describe three techniques that build trust and a lasting partnership. Give an example
for each technique and how it would impact an organization. (Points : 18)
5. (TCO B) Describe the sellers pre-award stage of the contract management process. Give an
example of the activity that takes place in each step. (Points : 16)
6. ((TCO E) Describe and explain some of the tools and techniques that should be used in source
selection. For example, is negotiation the only effective tool for source selection..? (Points : 16)
Page 2
1. (TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and
with time and material agreements. Offer your opinion on which type of contract would best suit
your organizational needs if you had to only select one type of agreement for all your suppliers
and sub-contractors. (Points : 16)
2. (TCO F) What is source selection, and why is it important? (Points : 16)
3. TCO G) There are many misconceptions regarding global contract management. Describe
three such misconceptions, and describe the reality of actual global contracts. (Points : 16)
4. (TCO H) One of the tools and techniques used in contract closeout or termination is
compliance verification, briefly describe this tool. (Points : 16)
5. (TCO A) State and elaborate five actions to improve your use of contract incentives(Points: 20)
6. (TCO C) Describe qualitative vs. quantitative evaluation criteria. (Points : 20)
Page 3
1. (TCO D) Performance-based contracts (PBC) contain five essential elements. (Points : 20)
2. (TCO E) It has been said that the side that does the most research and planning will often
come out best in any negotiation? Do you agree with this statement? Do you disagree with this
statement? Defend your position with examples and other information (Points : 20)
3. (TCO F) What is an indefinite delivery indefinite quantity (IDIQ)? (Points : 20)
4. TCO G) Describe and compare and contrast the buyers and sellers post-award phase of the
contract management process. Give an example for each step in the process for... (Points : 20)
5. (TCO H) Describe and explain the awakening phase in the evolution of a project management
organization. Explain and defend why this phase is the most important... (Points : 20)
6. (TCO B) What are the unique differences between cost plus incentive fee contracts and fixed
price incentive contracts?(Points : 20)