How to Obtain PMP Procurement Management Questions and Answers?

What is Project Procurement Management?

The procurement process would be formalizing about how organizations would be obtaining goods and services from outside the organization. As a result, the process could involve:

Making or buying decisions.
Securing expertise not available within the organization.
Potential lease decisions.
The best type of contract to utilize when you would be obtaining goods or services.

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Question 1: You have engaged a sole source vendor for procuring a critical product for your organization that would require your product line. The vendor submits a contract that your legal team would review. While most of the provisions would be agreeable, there would be numerous questionable provisions that would be illegal and unenforceable in the state where the contract would be signed. The vendor would have informed you that they won’t provide the sign or product of the contract without those questionable provisions which would be included. The procurement of this product would be critical to the health of your business, as well as time is considered to be of the essence. The vendor thinks they would have your organization over a barrel. Aside from the questionable provisions in the contract, everything else in the contract is considered acceptable. As the buyer, your best option would be to moving forward would be to:

a. Initiating legal action against the vendor for attempting for breaking the law

b. Pointing out that the questionable provisions would be unenforceable in the state and offer for signing the contract immediately if the provisions would be removed or modified to be legal.

c. Finding a competing vendor that would be providing an equivalent product.

d. Sign the contract – you would have got them over the barrel if the questionable provisions would be legally unenforceable

Question 2: Which of the following aren’t considered to be advantages in a centralized contracting environment?

a. Access to contracting expertise

b. Procurement manager has more loyalty to the project

c. Standardized practices

d. Defined career path

Question 3: Which of the following would be occurring in the Conduct Procurement process?

a. Contract change control

b. Make-or-buy decisions

c. Bidder conferences

d. Source selection criteria

Answers:

1. Answer: B – This would be a somewhat tricky question, and it must be read carefully. Answer A doesn’t help you if time is of the essence – litigations, as well as additional negotiations, could take quite a long time. Answer C might or might not be possible and would also take considerable extra time. Answer D would probably work legally but might not support the idea of protecting the relationship with the seller. However, it might become your fallback option if B doesn’t perform. Answer B would be the best option to point out the legal problems with the appeal and contract to the vendor’s reason.

2. Answer: B – The Procurement manager isn’t loyal to your specific project but might be administering much procurement.

3. Answer: C – The bidder conference would be a tool as well as a technique of Conduct Procurements.

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