Miscellaneous Quiz / FSUProject Management ch 12

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Can you name the PM ch 12?

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definitionword
a document used to solicit proposals from prospective suppliers
a mutually binding agreement that obligates the seller to provide the specified products or services, and obligates the buyer to pay for them
contract with a fixed total price for a well-defined product or service; also called lump-sum contract
a contract in which the buyer pays the supplier for allowable performance costs plus an award fee based on the satisfaction of the subjective performance criteria
a contract in which the buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs
definitionword
also called a tender or quote (short for quotation), a document prepared by sellers providing pricing for standard items that have been clearly defined by the buyer
contractors, suppliers, or providers who provide goods and services to other organizations
initiating
a document prepared by sellers when there are different approaches for meeting buyer needs
the cost at which the contractor assumes total responsibility for each additional dollar of contract cost in a fixed price incentive fee contract
definitionword
a contract in which the buyer pays the supplier for allowable performance costs along with a predetermined percentage based on total costs
contracts involving payment to the supplier for direct and indirect actual costs
a hybrid of both fixed-price and cost-reimbursable contracts
closing
a contract in which the buyer pays the supplier for allowable performance costs along with a predetermined fee and an incentive bonus
definitionword
a document used to solicit quotes or bids from prospective suppliers
an approach in which the buyer pays the supplier a predetermined amount per unit of service, and the total value of the contract is a function of the quantities needed to complete
executing
the processes required to acquire goods and services for a project from outside the performing organization
contract with a fixed total price for a well-defined product or service; also called Fixed-price contract
definitionword
monitoring and controlling
planning
when an organization decides if it is in its best interests to make certain products or perform certain services inside the organization, or if it is better to buy them from an out
a description of the work required for the procurement
acquiring goods and/or services from an outside source
definitionword
oral or written acts or omissions by someone with actual or apparent authority that can be constructed to have the same effect as a written change order
a contract clause that allows the buyer or supplier to end the contract

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