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Procurement

QuestionAnswer
The process of documenting project procurement decisions, specifying the approach, ,and identifying potential sellers Plan Procurement Management
The process of obtaining seller responses, selecting a seller, and rewarding a contract Conduct Procurements
The process of managing procurement relationships, monitoring contract performance, making changes and corrections as appropriate, and closing out contracts Control Procurements
What are the tailoring considerations for procurement ? Complexity of procurement Physical location Governance and regulatory environment Availability of contractors
The seller is reimbursed for all allowable costs for performing the contract work and receives a fixed-fee payment calculated as a percentage of the initial estimated project costs. Cost plus fixed fee (CPFF)
The seller is reimbursed for all allowable costs for performing the contract work and receives a predetermined incentive fee based on achieving certain performance objectives as set forth in the contract Const plus incentive fee (CPIF)
The seller is reimbursed for all legitimate costs, but the majority of the fee is earned based on the satisfaction of certain broad subjective performance criteria that are defined and incorporated into the contract Cost plus reward feee (CPRF)
Are hybrid type of contractual arrangement with aspects of both cost-reimbursable and fixed-price contracts. they are often used for staff augmentation Time and Material Contracts (T&M)
What are the commonly used selection methods Least cost Qualifications Only Quality-based/highest technical proposal score Quality and cost-based Sole source Fixed budget
Process involves obtaining responses to bids and proposals, selecting a vendor, and awarding the contract conduct procurement
Created by: Naser
 

 



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