Miscellaneous Quiz / FSUProject Management ch 12

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Can you name the PM ch 12?

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definitionword
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 contract in which the buyer pays the supplier for allowable performance costs along with a predetermined fee and an incentive bonus
executing
a document prepared by sellers when there are different approaches for meeting buyer needs
a document used to solicit proposals from prospective suppliers
definitionword
acquiring goods and/or services from an outside source
initiating
contractors, suppliers, or providers who provide goods and services to other organizations
planning
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
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
contract with a fixed total price for a well-defined product or service; also called lump-sum contract
a document used to solicit quotes or bids from prospective suppliers
closing
the processes required to acquire goods and services for a project from outside the performing organization
definitionword
monitoring and controlling
a contract in which the buyer pays the supplier for allowable performance costs along with a predetermined percentage based on total costs
the cost at which the contractor assumes total responsibility for each additional dollar of contract cost in a fixed price incentive fee contract
contract with a fixed total price for a well-defined product or service; also called Fixed-price contract
a description of the work required for the procurement
definitionword
a contract clause that allows the buyer or supplier to end the contract
a hybrid of both fixed-price and cost-reimbursable contracts
a mutually binding agreement that obligates the seller to provide the specified products or services, and obligates the buyer to pay for them
contracts involving payment to the supplier for direct and indirect actual costs
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
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
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

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