PMP Quiz 13 March 2017 Which term describes contract costs that are traceable to or caused by a specific project work effort? Answer

PMP Quiz 10 March 2017 You are a contractor for a state agency. Your company recently completed a water resource management project for the state and received payment on its nal invoice today. A procurement audit has been conducted. Formal noti cation that the contract has been closed should be provided to your company by the— Answer

PMP Quiz 9 March 2017 Significant differences between the seller’s price and your independent estimate may indicate all the following EXCEPT the— Answer

PMP Quiz 8 March 2017 In some cases, contract termination refers to— Answer

PMP Quiz 7 March 2017 Which term describes the failure by either the buyer or the seller to perform part or all of the duties of a contract? Answer

PMP Quiz 6 March 2017 The buyer has negotiated a cost-plus-incentive fee contract with the seller. The contract has a target cost of $300,000, a target fee of $40,000, a share ratio of 80/20, a maximum fee of $60,000, and a minimum fee of $10,000. If the seller has actual costs of $380,000, how much fee will the buyer pay? Answer

PMP Quiz 3 March 2017 Contract type selection is dependent on the degree of risk or uncertainty facing the project manager. From the perspective of the buyer, the preferred contract type in a low-risk situation is— Answer

PMP Quiz 2 March 2017 Which term describes those costs in a contract that are associated with two or more projects but are not traceable to either of them individually? Answer

PMP Quiz 1 March 2017 What doctrine causes a party to relinquish rights under a contract because it knowingly fails to execute those rights? Answer

PMP Quiz 28 February 2017 You are the project manager for the construction of an incinerator to burn refuse. Local residents and environmental groups are opposed to this project. Management agrees to move this project to a different location. This is an example of which one of the following risk responses? Answer