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PROJMAN - L 9
Risk and Procurement
| Question | Answer |
|---|---|
| the art and science of identifying, analyzing, and responding to risk throughout the life of a project and in the best interests of meeting project objectives | Project Risk Management |
| involves deciding how to approach and plan the risk management activities for the project | Risk management planning |
| involves determining which risks are likely to affect a project the characteristics of each | Risk identification |
| involves characterizing and analyzing risks and prioritizing their effects on project objectives | Qualitative risk analysis |
| predefined actions that the project team will take if an identified risk event occurs. | Contingency plans |
| developed for risks that have a high impact on meeting project objectives , and are put into effect if attempts to reduce the risk are not effective. | Fallback plansc |
| based on risks that have been encountered in previous projects provide a meaningful template for understanding risks in a current project. | Checklists |
| include using cause-and-effect diagrams or fishbone diagrams, flow charts, and influence diagrams. | Diagramming |
| involves determining what to procure and when involves deciding what to outsource, determining the type of contract, and creating a statement of work | Procurement planning |
| involves documenting product requirements and identifying potential sources | Solicitation planning |
| involves obtaining quotations, bids, offers, or proposals as appropriate | Solicitation |
| involves choosing from among potential suppliers involves evaluating prospective suppliers, negotiating the contract, and awarding the contract | Source selection |
| involves managing the relationship with the supplier | Contract administration |
| involves completion and settlement of the contract, including resolution of any open items | Contract close-out |
| one in which an organization decides if it is in their best interests to make certain products or perform certain services inside the organization, or if it is better to procure them from an outside organization. | Make-or-buy decision |
| involve payment to the supplier for direct and indirect actual costs. | Cost reimbursable contracts |
| type of scope statement that describes the work in sufficient detail to allow prospective suppliers to determine if they are capable of providing the goods and services required and to determine an appropriate price | Statement of Work (SOW) |
| used to solicit proposals from prospective suppliers. | Requests for Proposal (RFP) |
| Request for Quote (RFQ) | used to solicit quotes or bids from prospective suppliers. |
| his ensures that the supplier’s performance meets contractual requirements | Contract Administration |
| THIS PROCESS INCLUDES PRODUCT VERIFICATION TO DETERMINE IF ALL WORK WAS COMPLETED CORRE | Contract Close-Out |
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