PMP Quiz 25 April 2017 Contract negotiations are NOT required when— Answer

PMP Quiz 24 April 2017 During contract negotiations on large contracts, the negotiation process focuses on many key issues, with price being one of them. Separate negotiations can be made on price, quantity, quality, and timing, which can significantly lengthen the process. The negotiation process can be shortened, however, provided that— Answer

PMP Quiz 21 April 2017 On large contracts, the contract administrator typically has a need to resolve ambiguity in the clauses that govern work performance and other issues. Assume that on your contract there is an order of precedence clause. This means that— Answer

PMP Quiz 20 April 2017 The best approach to resolve the settlement of all outstanding contract changes, claims, and disputes is using— Answer

PMP Quiz 19 April 2017 All of the following are examples of good control procurement skills that project managers need to exercise EXCEPT— Answer

PMP Quiz 18 April 2017 You are working on a contract in a remote location. The contract requires you to be on site at the office on a daily basis. You were unable to get to the office for three days last month because of severe blizzard conditions. Your failure to appear at the office was excused because of a clause in the contract entitled— Answer

PMP Quiz 17 April 2017 Payment bonds are often required by the contract and require specific actions under the stated conditions. Payment bonds are specifically designed to ensure that the prime contractor provides payment of— Answer

PMP Quiz 14 April 2017 Requirements for formal deliverable acceptance are defined in the— Answer

PMP Quiz 13 April 2017 A buyer has negotiated a fixed-price-incentive-fee contract with the seller. The contract has a target cost of $200,000, a target profit of $30,000, and a target price of $230,000. The buyer also has negotiated a ceiling price of $270,000 and a share ratio of 70/30. If the seller completes the contract with actual costs of $170,000, how much profit will the buyer pay the seller? Answer

PMP Quiz 12 April 2017 When writing payment terms in your fixed-price subcontracts it is especially important to— Answer