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MGMT 591 Week 8 Final Group Project Keller

PM 598 Entire Course Contract and Procurement Management Keller

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PM 598 Entire Course Contract and Procurement Management Keller
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This course includes the following: Course project; part 1-week 4, and part …

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PM 598 Entire Course Contract and Procurement Management Keller

PM 598 Entire Course Contract and Procurement Management Keller

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This course includes the following:

Course project part 1-week 4, part 2- week 7, Quiz week 3, Negotiation Exercise week 5, You Decide week 6, Final Exam, and All 7 weeks of discussions posted by all students.

PM 598 Course Project

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Project Part 1

Assignment: Project Part 1 (PP1) entails completing a Request for Proposal (RFP). You may select one of the below procurement cases or use one of your own appropriate procurement cases as the basis for creating an RFP….

Project Part 2

Assignment: Project Part 2 covers all TCOs for this course.  In this assignment, you will be required to identify an opportunity throughhttps://www.Fbo.gov and follow the instructions, which are located in the Doc Sharing section….

Part 1 Week 4 – 21 Pages

Preview:

.2.What Must Be Included with Bid

All proposals must include description of the methodology or the approach to be undertaken, project timeline and deliverables at each phase of the project. The technical specification of the system to be used will also be required, as well as qualifications of the team who will be handling the project.  In addition, the bid should also include the project cost with a breakdown in terms of the various project milestones.  Finally, to facilitate assessment of the bidder’s qualifications, a list of bidder’s portfolio, client references, certifications, and others pertinent information must be submitted along with the proposal.

1.3. Schedule of Bid Period Activities

Proposals or bids may be emailed to inventory.management@springseeds.com and must be received no later than 5:00 PM of June 30, 2014.  Strict compliance to this deadline is required as late submissions will not be considered.  The awarding of the contract will be held on August 1, 2014.  All participating bidders will…

Part 2 Week 7 – 19 Pages

Preview:

Dear Ms. Shilke:

Our company, Bytes and Sounds, Inc. (BSI), would like to make an offer to supply and install your audio visual equipment as noted from your Request for Proposal (Solicitation No.: R13PS30238).

BSI has over 20 years of experience in the field of audio-visuals. We are a major distributor of known brands of audio-visual equipment, and provide installation services through our highly trained technicians. We have a wide range of audio-visual systems that you can choose from. Our expert technicians are very dependable to help you select the…

PM 598 Quiz Week 3 Keller

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(TCO B) All of the below would be considered good selection criteria for a buyer to use to select a seller, except (Points : 10)

Proprietary rights of buyer, overall cost, and warrantee offered by seller.
Past work done by seller, intellectual property rights, and risk associated with a given seller.
Technical capability of seller, understanding of work by seller, and business type of seller.
Managerial approach of seller, capacity of seller to do the work, and ability of seller to make a reasonable make-or-buy decision.

(TCO A) According to the PMBOK® Guide, there are four processes in the procurement area. Describe and explain these four processes in the procurement management process for the buyer. (Points : 30

Plan procurement management 2.Conduct procurement management 3.Control procurement 4.Close procurement Plan Procurement Management According to the PMBOK, the plan…

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(TCO A) Describe and explain the four processes in the procurement management process for the buyer as shown in the PMBOK® Guide.  (Points : 30) 

The four procure management processes from the buyer’s point of view are: Plan procurement management is the process which…

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(TCO C) Compare and contrast a firm fixed-price contract with a cost-plus contract. When would each be appropriate for a given project?(Points : 30)

This type of contract must be negotiated carefully, because each hourly rate includes a component for overhead costs, which include both fixed and variable costs. Fixed costs are the…

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(TCO C) Compare and contrast a cost-plus contract to a time and material contract.  When would each be appropriate for a given project? (Points : 30)

Cost-plus contract, also known as cost-reimbursable contract is the type of contract where the organization/buyer agrees to…

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(TCO D) Compare and contrast an RFP, an IFB, and an RFI. When would each best be used in procuring goods or services? (Points : 30) 

Types of procurement documents include the request for proposals (RFP), request for quotations (RFQ), request for tenders (RFT), invitation to…

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(TCO D) What are the three types of procurement statements of work? When is each the appropriate for a given contract?  (Points : 30)

The three types of Statement of Work (SOW) are: Design/Detail SOW- provides information to the…

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(TCO A) What is the largest difference between a contract and a project? (Points : 6)

A project and a contract are identical.
A contract has to be in writing while a project does not have to be in writing

A contract is always a project, but a project does not always involve a contract.

A project needs a project manager, and a contract needs a contract manager

None of the above

(TCO A) Which of the following common actions used by winning companies to build successful partnerships would involve strategic sourcing agreements, back-sourcing arrangements, joint-equity partnerships, preferred supplier agreements, and customer agreements? (Points : 6)

Changing buying and selling processes

Developing an integrated supply chain
Unleashing corporate buying and selling power

Learning and applying the best practices and e-tools from industry leaders

None of the above

(TCO B) The managing expectation process model includes which of the following steps? (Points : 6)

Clarify expectations, control expectations, and meet with customer

Clarify expectations, control expectations, and meet or exceed expectations

Ask, align, and negotiate

Listen, agree, and communicate

None of the above

(TCO A) What phase of the seller contract management process involves risk assessment tools, and what areas of risk would the tools address? (Points : 32)

According to our text book, the phase of the seller contract management process that involves risk assessment tools would be Step 2: Bid/No-Bid Decision Making (p.95).  In this step the…

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PM 598 Negotiation Exercise Week 5 NEW Keller

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Write a three- to five-page paper about any negotiation that you have been involved in. For this assignment, discuss a negotiation that did not result in the best possible solution for all parties. This negotiation can relate to a work experience, a family or friend experience, or any other experience where you were an active member of a negotiation.

Discuss how the negotiation experience actually happened, then consider the negotiating techniques that you have learned about in the past 4 weeks of class, and then offer an explanation of how you could have conducted the negotiation better. Explain where your new learning from the course might have been helpful in this previous negotiation.

Deliverable: A three- to five-page paper outlining your response to the above assignment

Preview:

The author’s negotiation experience was with a former client. The author was trying to part ways with the client due to the extremely low rates and the quick deadlines that the client gave. The work conditions…

PM 598 Negotiation Exercise Week 5 Keller

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Write a three- to five-page paper about any negotiation that you have been involved in. For this assignment, discuss a negotiation that did not result in the best possible solution for all parties. This negotiation can relate to a work experience, a family or friend experience, or any other experience where you were an active member of a negotiation.

Discuss how the negotiation experience actually happened, then consider the negotiating techniques that you have learned about in the past 4 weeks of class, and then offer an explanation of how you could have conducted the negotiation better. Explain where your new learning from the course might have been helpful in this previous negotiation….

… The negative consequences that came out of this brief and quite informal negotiation process was that I wasn’t satisfied with the quality of their work, I spent much more than the budget I initially had for the renovation, and the entire project took longer…

PM 598 You Decide Week 6 NEW Keller

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In this exercise, you play the role of Shawna, a project manager for XYZ Pharmaceutical Company. Currently, you are managing a large IT project in the healthcare industry for XYZ. Your project is to refurbish an existing office building, install the IT infrastructure, and outfit the area for use as a new telephone answering hub for your company. You took over this project a week ago from John, the previous project manager. John had overseen the project since its inception.

This project is in the execution phase, with the refurbishing and installation of the infrastructure currently being done in concert with each other. All of the new office equipment is on order and is scheduled for delivery on the day after the refurbishment and infrastructure work are scheduled for completion. The overall work progress is about three quarters finished. Senior management is pleased with the progress of the project so far.

There are four vendors working with you on the project. Ken’s Construction Company is handling all the refurbishment. This work includes all structural work, drywall, and electrical work in the building. Jaime’s Interior Design is doing the carpeting, painting, and cubicle work. Carolyn’s IT Services is installing all IT components, including servers, IT cabling, and a wireless network. Mike’s Office Equipment is providing all desks, computers, and phones. All contracts associated with this project are fixed-price contracts.

Since taking over for John, you have had a number of contractual issues arise associated with this project. You have delayed making any decisions about these issues, hoping they would work themselves out. Today, a third contractual issue was brought to your attention.

Realizing you can no longer postpone action on these issues, you call a meeting of your project team. You project team is made up of three individuals. Iris is the future manager of the telephone hub. Tony is the IT lead on the project. Phil is the facility specialist assigned to your team.

You describe each of the three issues to the team and ask for input.

  1. Ken’s Construction Company is making a claim that it is not responsible for inspections required by the local township. Ken has produced a memo signed by John during negotiations that states that XYZ is responsible for all permits and inspections. However, a quick review of the contract shows that Ken is responsible for all inspections. Failure to resolve this issue will likely delay the project at least 1 week, because Ken is making no effort toward arranging for the required inspections.
  2. Jaime’s Interior Design has brought to you another issue. In the contract, under the section labeled Special Conditions, it states that carpeting must meet a specific wear rating. In the same contract, in the General Conditions section, the contract prohibits the use of any nongeneric materials within the work of the contract. This would include carpets with special wear rating, because these would be nongeneric materials. Jaime has already purchased and begun the installation of the generic carpet that does not meet the wear rating.
  3. Mike’s Office Equipment has informed you of a minor typographic error in the contract with you to provide office equipment for this project. In the contract, it states Mike shall be paid as follows.
    $425,000 (Four hundred and twenty-five thousand dollars)
    Mike apologizes for any inconvenience this may have caused and is awaiting the payment of $425,000. The company further states $425,000 would have not likely even begun to cover the shipping costs. Mike informs you that it will ship the office equipment when the remainder of its fee is received. After receiving this information from Mike, you priced out the cost of the office equipment from other vendors and the average price was $50,000.

Your Role

As the project manager, the project team is looking to you for direction on each of these issues. Review the comments of the key players, consult the grading rubric below and then answer the following questions.

  1. Is Ken or is XYZ responsible for the inspections? What is a reasonable course of action given that the project may have to be delayed a week or more?
  2. What carpet should be installed? Should work be stopped to evaluate this issue? What do you do to resolve this?
  3. How much is owed to Mike? What actions would you take as the project manager?

Preview:

In this case, the author is appointed the project manager for XYZ Pharmaceutical Company’s IT project. Its management of the project was handed down to the author from John who oversaw the project’s development from its inception. In particular, the project is for the refurbishment of an existing office building and…

PM 598 You Decide Week 6 Keller

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Scenario Summary

In this exercise, you play the role of Shawna, a project manager for ZAP Pharmaceutical Company. Currently, you are managing a large IT project in the healthcare industry for ZAP. Your project is to refurbish an existing office building, install the IT infrastructure, and outfit the area for use as a new telephone answering hub for your company. You took over this project a week ago from John, the previous project manager. John had overseen the project since its inception….

Your Role

As the project manager, the project team is looking to you for direction on each of these issues. Review the comments of the key players, consult the grading rubric below and then answer the following questions.

  1. Is Bear or is ZAP responsible for the inspections? What is a reasonable course of action given that the project may have to be delayed a week or more?
  2. What carpet should be installed? Should work be stopped to evaluate this issue? What do you do to resolve this?
  3. How much is owed to Sheba? What actions would you take as the project manager?

Preview:

  1. Is Bear or ZAP responsible for the inspections? What is a reasonable course of actions given that the project may have to be delayed a week or more?

Understanding and Assumptions:

Since John is not in the position anymore to explain what happened during the negotiation and contract signing, the following scenarios are assumed:

The memo signed by John that Bear Construction Company showed indicating that….

PM 598 Discussions Week 1-7 All Students Posts 576 Pages Keller

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PM 598 Procurement Process Discussions 1 Week 1 All Students Posts 39 Pages Keller

What experience do you have in procurement? In the PMBOK® Guide, we find a four-process method to performing procurement in an organization. Is this overall process used at your place of business?  How are procurements performed at your place of business?  P Cards are very interesting tools.  Have you ever heard of one mis-using a P Card? I know that many companies avoid using them because they feel that people will abuse them or use them incorrectly.  I am not sure I agree with that thinking but I have seen it.  Do you feel that being part of the process helps the overall organization?  What do you think?  Do you feel that we tend to over plan things in projects?…

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PM 598 Roles and Responsibilities Discussions 2 Week 1 All Students Posts 40 Pages Keller

In the procurement process, the roles and responsibilities of the project team members need to be delineated to ensure proper contract performance. Where and how does your organization separate the roles of a contract manager, project manager, and other project team members? Why is this so important to a successful project?  Should the role of contract manager be rolled into that of a project manager? What about for a small project?  Do you feel that there would be enough work for a contract manager?  What do you think? What should the role of a project manager be in the overall process of procurement?…

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PM 598 Procurement Process and Roles and Responsibilities Discussions Week 1 All Students Posts 79 Pages Keller

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PM 598 Make-or-Buy Discussions 1 Week 2 All Students Posts 48 Pages Keller

The plan procurement process from the PMBOK ® Guide really begins with a make-or-buy decision. What are some things an organization should take into account during a make-or-buy decision? Why are these important? Under what situations should an organization make or supply a service itself versus buying it? What are your thoughts about losing the in-house expertise that one might have by buying instead of making? Is cost the most important concern when performing a make-or-buy decision? Why or why not? What other aspects should a company consider? Should proprietary issues, such as copyrights, trademarks, and patents, be considered when making a make-or-buy decision?…

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PM 598 Procurement SOW Discussions 2 Week 2 All Students Posts 47 Pages Keller

One of the most important outputs from the plan procurement process is the procurement statement of work (SOW). Who should write the SOW? How detailed should it be? Why is this important? What role does the project manager play in the creation of the procurement SOW? How does the Project Manager know that the SOW is clear and complete?  What should the project manager do to make sure that it is clear and complete?  What are terms and conditions? What role do they play in a contract?…

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PM 598 Make-or-Buy and Roles and Procurement SOW Discussions Week 2 All Students Posts 95 Pages Keller

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PM 598 Contract Types Discussions 1 Week 3 All Students Posts 44 Pages Keller

Using alternatives specified in the PMBOK® Guide, discuss what kind of contract pricing might be best for the following procurement situations. Arrange to select a topic “round-robin style” so that you select the next topic that has not already been discussed. Which of these topics are better served using one of these contract vehicles: Fixed Price, Cost Plus (Cost Reimbursable), or Time & Material contracts? Be sure to define each of these contracts before aligning a topic.

  1. Adding a room to your home
  2. Landscaping your company’s grounds
  3. Developing a new software module
  4. Purchasing new desktop computers
  5. Conducting a survey of employee attitudes
  6. To hire a general contractor to do the entire project
  7. Purchasing a new car for a project
  8. Leasing a new car for a project
  9. Leasing an temporary office for the project team
  10. Contracting for office supplies
  11. to augment the project team with an additional administrative assistant
  12. Contracting for a new roof for a home
  13. Purchasing of a new cell phone and a service plan for the project team
  14. Contracting for new windows for an office building
  15. Contracting for new car insurance for the project vehicles
  16. Purchasing a new air conditioner/heater (HVAC system) for a business
  17. To hire consultants to consult on a key area of the project
  18. To hire a product designer to improve the final design of the project

For which of these examples would incentives be a viable option? What terms and conditions would you like to see in a contract from the buyer’s perspective? Would you consider a fixed price per response for a survey of employee attitudes?  Why or why not?…

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PM 598 Plan Contracting Discussions 2 Week 3 All Students Posts 38 Pages Keller

We have now studied the plan contracting process. We have explored the procurement SOW and various types of contracts. Think back to past events in which you or your organization entered into a contract. Were the contract statement of work, whether verbal or written, and the type of contract aligned? Was your plan or your organization’s plan aligned with where it should have been? What have you learned so far about contracting that could apply to your workplace? Describe how proper planning of contracting might have changed the outcome of past events associated with contracts. Do you feel that one can have too much planning?  How does a good SOW set a good future relationship between a buyer and a seller?…

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PM 598 Contract Types and Roles and Plan Contracting Discussions Week 3 All Students Posts 82 Pages Keller

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PM 598 Best Practices Discussions 1 Week 4 All Students Posts 41 Pages Keller

Class: In Chapter 9 of our World Class Contracting text, the section Best Practices: 45 Actions to Improve Results, lists 45 actions to improve results in the contract award phase. Pick a few of these best practices that you have seen that were successful in action and share your experiences with the class. Comment on the choices of your classmates to discover other best practices that might be useful to you in contract negotiations. Discuss and explain which best practice you have found to be the most important or the most useful to you in the past. Which best practice do you feel is the most important? Do you think that best practices are situational, or are they applicable to any situation? Can you think of any other universal best practices?  What do others think? However, could you give an example of a situation where someone might just care about the lowest price?…

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PM 598 Source Selection Discussions 2 Week 4 All Students Posts 51 Pages Keller

Class: Read the Peach Computer Company case found in the Case Study area of Doc Sharing, and discuss the following. What are the main issues in the case, and how would you begin to resolve them using some of the concepts we have discussed in class? What alternatives are available to resolve the issues? What type of contract incentive(s) could you adopt to make this case more successful and why? Provide an analysis of the four bidders. What are the benefits and disadvantages of each supplier? Which bidder would you select and why? What factors should be considered or addressed in the implementation? How would you implement your recommendation? Do you feel that company politics would have an impact on the selection of the supplier? What internal politics might shape the supplier selected? Do you think that reputation would be enough?  What if you found out that some people liked the project manager, and some people did not?  What then?…

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PM 598 Best Practices and Roles and Source Selection Discussions Week 4 All Students Posts 92 Pages Keller

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PM 598 Contract and Negotiations Best Practices Discussions 1 Week 5 All Students Posts 38 Pages Keller

Table 9-2 on page 154 in your textbook is a handy reference to use if you are ever confronted by an experienced negotiator. Let’s talk about these tactics and how we can counter them. Select one of the tactics from the table and discuss your thoughts and experiences. How do you go about planning for negotiations in order to avoid these tactics? Which best practice do you feel is the most important? Do you think that negotiation best practices are situational? Do you feel that it is always realistic to try to achieve win-win?  If the buyer wants the lowest price and the seller wants the highest price, does that not set up a win-lose situation?  What do you think?  What do others think?…

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PM 598 Negotiation Exercise Case Study Discussions 2 Week 5 All Students Posts 39 Pages Keller

Read and review the BBC vs. Info R Us Case located in Doc Sharing; let’s discuss the following questions. What if Bennie ignores Dan’s recommendations during the negotiation with the BBC? How does this relate to what you learned in the negotiating assignment? What risks exist for Dan at this point? How does this relate to what you learned in our negotiating assignment? Also, consider if you have been in a similar situation and how you handled the situation. Did you use any of the best practices discussed this week in that negotiation? Do you feel that company politics will shape this negotiation? What would you think of the different positions of Dan and Bennie if you were to find out that the company makes more money on change orders than on the bid price?  What does that do to the negotiation and the position that they should take?  What do others think about this?…

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PM 598 Contract and Negotiations Best Practices and Negotiation Exercise Case Study Discussions Week 5 All Students Posts 77 Pages Keller

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PM 598 Controlling Procurements Discussions 1 Week 6 All Students Posts 40 Pages Keller

We are nearing the end of our study of procurement. Here are a number of questions to see what you have learned about the overall process and about control procurements in particular.

  • Which type of contract requires the least contract administration during control procurement phase? Which type requires the most? Why?
  • Why is it commonly difficult to get work finished under a firm fixed-price contract?
  • Why is it sometimes difficult to get the seller to complete work under a cost plus contract?
  • What can be done to induce fixed-price contractors to become more responsive?
  • What other types of strategies can be employed to induce contractors to finish the work on time?
  • How does risk relate to getting the final work completed?

Can you name some different positive incentives that you have seen used effectively to conclude a project? How is a level of effort contract different?  The price paid seems to be the same in the end.  And if the government does not have the right to audit the books of the contractor, how are they to know what was the real level of effort? If they do not use a fixed price contract, what do they typically do? What about a contingency plan in case the supplier does not deliver?  What happens with that risk?…

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PM 598 World Class PMO Discussions 2 Week 6 All Students Posts 39 Pages Keller

More and more companies are using the project-management discipline, internally and externally, to provide a highly focused, integrated, multifunctional solution that meets or exceeds their customers’ expectations. Project managers and CMs are working side by side to make this happen in world-class organizations. Take a look at the project management maturity model described in Chapter 13 of our World Class Contracting text.

  • How do you imagine project management might aid or detract from the contract negotiating process, depending on how mature the process is within the organization?
  • How far along has your company come in terms of the project management maturity model, and how does it aid the negotiating process? Do you have any experiences to share? Do you believe that your company will ever have a project management maturity model?
  • How do you see project management continuing to aid the contract process? What are truly world-class companies doing differently in terms of buying and selling to stay ahead of the competition?
  • Do you feel that organizations would benefit from using a project management maturity model?

What are the various types of PMOs and how do they influence an organization? Do you believe that it is more expensive to run a world-class PMO than to run another type of organization? Do you think that those experienced people bring more value to the organization or are the just more expensive without more value? Why would training be so important to a world-class PMO?…

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PM 598 Controlling Procurements and World Class PMO Discussions Week 6 All Students Posts 79 Pages Keller

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PM 598 Uniform Commercial Code Discussions 1 Week 7 All Students Posts 39 Pages Keller

TCO H is as follows: Given a claim on a major contract, analyze the role of commercial terms and conditions, the Uniform Commercial Code (UCC), and applicable government regulations on the outcome. Assume that you are a seller, and the buyer makes a claim on a major contract that you oversee. Let’s discuss the following aspects of the UCC.  First, how might commercial terms and conditions impact the outcome? Second, analyze the potential role of the UCC on the outcome. Third, what role might applicable government regulations play on the outcome? Fourth, if the agreement is silent on a topic, how might the UCC protect each party? Also, consider why the Uniform Commercial Code exists. Is it important? How does it affect commerce? What is the maximum amount for a forcible verbal agreement? Is the UCC a state law?  Does it apply equally in all states?  Do a little research and let me know. If the UCC is state law, then what about case law?  How does that impact the UCC?…

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PM 598 Lessons Learned Discussions 2 Week 7 All Students Posts 33 Pages Keller

Based on our discussions, please offer some ideas on how you will apply the knowledge from this class to assist with future projects. Then, name some people, whether in public, business, or private life, whom you would like to advise on their procurement or contracting management style. What are some of the issues you would like to address, and how might they benefit from some of the ideas in the class? What specifically would you suggest? Comment on the ideas of your classmates to help them develop their ideas. What was the most important single thing you will take away from this class?…

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PM 598 Uniform Commercial Code and Lessons Learned Discussions Week 7 All Students Posts 72 Pages Keller

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PM 598 Final Exam Keller

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(TCO A) All the below are tools and techniques of conduct procurement, except (Points : 5)

Bidder’s conferences, negotiations, and advertising.
Analytical techniques, expert judgments, and evaluation techniques.
Estimates, bidder’s conferences, and evaluation techniques.
Negotiations, make-or-buy decisions, and advertising.

(TCO A) All the below are tools and techniques of control procurement, except (Points : 5)
claims administration, payment systems, and procurement SOWperformance reviews, record management systems, and change control systemschange control systems, payment systems, and inspections and audits

records management systems, claims administration, and performance reporting.

 

(TCO B) Proper selection criteria are critical for a successful project. All of the below would be considered good selection criteria for a buyer to use to select a seller, except (Points : 5)

Managerial approach of seller, references of seller, and ability of seller to make a reasonable make-or-buy decision.
Past work done by seller, intellectual property rights, and risk associated with a given seller.
Technical capability of seller, understanding of work by seller, and business type of seller.
Financial capacity of seller, overall cost, and warranty offered by seller.

(TCO A) Why are the project schedule and the project budget inputs of plan procurement? (Points : 8)

First, Project schedule is because to track the duration ….

(TCO B) You are creating your SOW for inclusion into the RFP. You wish to include both qualitative and quantitative evaluation criteria in the RFP. Describe qualitative versus quantitative evaluation criteria. (Points : 12)

Qualitative evaluation criteria:

This evaluation is based on the result or …

(TCO C) Awards and incentives are commonly used in contracts. Are these simply just two different way of saying the same thing, or are awards and inventive contracts different? (Points : 12)

Awards and incentives are commonly used in contracts to compensate contractors who perform above an established …

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(TCO C) From the viewpoint of the buyer, why are award fees and incentive fees important in contracts? (Points : 12)

From the buyer’s point of view, awards and incentives are important as a means to motivate…

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(TCO D) Compare and contrast sole source and single source approaches to procurement. (Points : 12)

Single-Source Contract is when a specific company is chosen bypassing the competition. Different suppliers and distributors typically produce and…

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(TCO D) Describe the typical work relationship between a project manager and a contract manager. (Points : 12)

The typical relationship between a project manager and contract manager may be characterized as of arm’s length since both parties are acting in …

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(TCO E) What is the purpose of creating a procurement SOW for an RFP? (Points : 12)

SOW defines project scope and procurement item/service in sufficient detail to allow…

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(TCO E) You are writing a procurement SOW for an RFP. What items are you likely to include in this SOW? (Points : 12)

Depends on the project and Organization SOW varies, so, key thing that I would like to add in any SOW

  1. Parameters of the Project
  2. Time frame of project
  3. location of …

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(TCO F) You are preparing for contract negotiations. To achieve your desired contract negotiation results, you need not only a strategy but also tactics and countertactics. Give an example of two tactics, and state why they help you achieve the desired result. (Points : 12)

Stonewall (“Take it or Leave it, I shall not move”) – this tactic is critical in a negotiation because it is about knowing one’s… 

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(TCO F) You are the project manager on an upcoming project. You and the contract administrator are preparing for contract negotiations with two potential sellers. Why is determining who has authority an important activity in conducting a negotiation? (Points : 12)

Identifying who has authority in the negotiation process is important because it clarifies who is accountable for what. This is critical to have clarity of …

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(TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe the reality of actual global contracts. (Points : 12)

Among the misconceptions on global contract management is: Commercial contracting is fundamentally different from…

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(TCO G) What are the five ways that a contract can end? Please provide an example of each. (Points : 12)

The 5 ways to terminate a contract are:

1.      Completion. This happens when the contract has been completed and …

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 (TCO A) Describe and explain the four processes in the procurement management process from the buyer perspective, as shown in the PMBOK® Guide. (Points : 20)

The four procure management processes from the buyer’s point of view are:

1.      Plan procurement management establishes …

(TCO B) You are a project manager at a bidder’s meeting. One of the potential sellers asks you a question concerning the project in the hallway leading to the meeting room. Can you answer this question for the seller? What would be your concern if you did answer the question? (Points : 20)

If I am not the project manager of that particular project…

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(TCO B) What are the unique differences between cost plus incentive fee contracts and fixed price incentive contracts? (Points: 20)

A cost-plus incentive contract has no set spending limit. With a cost-plus incentive contract, the contractor purchases the needed materials and gets…

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(TCO C) Fixed-price, cost-reimbursable, and time and material contracts are all potential agreements that could be reached between organizations. Describe each type of contract, and explain the range of risk for each of these types of contracts. (Points : 20)

Fixed-price contract is when a buyer and seller enter a contract by agreeing on the final cost of the goods or services to…

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(TCO D) Compare and contrast an RFP and an IFB. When would each best be used in procuring goods or services?(Points : 20)

Invitation for Bid (IFB) – is a competitive method of awarding contracts of significant…

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(TCO D) You are reviewing procurement models and you notice that there are three types of procurement statements of work. What are the three types of procurement statements of work? When is each appropriate for a given contract? (Points : 20)

The three types of Statement of Work (SOW) are:

1.      Design/Detail SOW– describes to the …

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(TCO E) You have been assigned to do a make-or-buy analysis. What factors will you likely include in your make-or-buy evaluation? (Points : 20)

Two main factors to consider is the cost to buy vs. the cost to make. Whichever option turns out to be…

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(TCO E) Describe the buyer’s plan procurement process of the contract management process as it relates to creating a RPF. Give an example of the activity that takes place in each step. (Points : 20)

The plan procurement process is the phase wherein a buyer starts planning and documenting project purchasing decisions…

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(TCO G) Often in the procurement closeout process, a procurement audit is done. What is a procurement audit, and what is the purpose of a procurement audit? (Points : 20)

A procurement audit is considered to be a…

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(TCO G) Describe and compare and contrast the buyer’s and seller’s actions in the control procurement phase of the contract management process. Give an example for each. (Points : 20)

The buyer’s actions in the control procurement phase are essentially focused on ensuring that the seller complies with all the agreements in the …

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(TCO F) “The side that does the most research and planning will often come out best in any negotiation.” Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information. (Points : 20)

…For example, in a construction project, the deal would often touch on…

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(TCO H) What does the uniform commercial code (UCC) state regarding price and warranty? What if a price is not specified in an agreement? What if a price is specified in an agreement? Does the UCC modify the price? What about a warranty? What rights does the buyer have for a guarantee under the UCC? What protection is granted to the seller? (Points : 20)

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The UCC has special provisions to facilitate resolving an issue that contracting parties may have…

(TCO H) Under U.S. and international law, all contracts must contain five elements or satisfy five requirements. List and explain each of these five elements. (Points : 20)

Legal Elements of a Contract

1.      Offer- is an expression of readiness to do something or enter into a deal with another party. It is valid for …

(TCO G) One of the inputs to contract closeout is completion of work, what does it mean? (Points : 16)

One of the inputs to a contract closeout is completion of work which means the contract …

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(TCO A) State and elaborate five actions to improve your use of contract incentives. (Points: 20)

The following are five actions that can be taken to improve the use of contract incentives. Thinking creatively, 2.)Avoiding awarding …

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(TCO E) It has been said that the side that does the most research and planning will often come out best in any negotiation? Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information (Points: 20)

I agree with this statement because the side that does the most research and planning is more prepared for the negotiation. They have enough information about…

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(TCO F) What is an indefinite delivery indefinite quantity (IDIQ)? (Points: 20)

An IDIQ is not a contract since signing this document does not signify any obligation on either party. However, it can become…

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(TCO G) Describe and compare and contrast the buyer’s and seller’s post-award phase of the contract management process. Give an example for each step in the process for the buyer and forthe seller. (Points: 20)

The steps in the post-award phase are the same for both the seller and the buyer. In particular, these steps consist of contract administration and contract closeout or termination. The contract administration step refers to the process of …

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(TCO H) Describe and explain the awakening phase in the evolution of a project management organization. Explain and defend why this phase is the most important of the process. Use examples to support your ideas. (Points: 20)

The awakening phase is the first phase in the development of a program management culture. It pertains to the organization’s realization of a need to transform the organization’s culture towards one that is oriented on program… 

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(TCO B) What are the unique differences between cost plus incentive fee contracts and fixed price incentive contracts? (Points: 20)

The main difference between a cost plus incentive fee contract and a fixed price incentive contract is the budget. In particular, a cost-plus…

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(TCO F) What are some of the concerns with a time & material contract vehicle? (Points : 20)

One of the concerns with time and material contracts is that the contractor may bill the client excessive hours and may…

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(TCO A) Business professionals who manage contracts must be aware of the many types of contracting pricing arrangements available in order to choose the best type for each situation. What are the three general pricing categories? Explain each category and include an example of each. (Points: 20)

The three types of contract pricing arrangements are fixed-price, cost-reimbursement, and time and materials.

With a fixed price contract, the agreement is that the service provider would complete a project for a set fee, which is determined at the onset of the project. A cost reimbursable …

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(TCO C) Describe qualitative vs. quantitative evaluation criteria. (Points: 20)

Quantitative criteria refer to criteria that can be quantitatively measured. Examples include price, mean-time-to-repair, mean-time-between-failure…

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(TCO D) Identify and explain the five essential elements of performance-based contracts (PBC). (Points: 20)

The five elements of performance-based contracts are the following: 1.) Performance Work Statement (PWS) or Statement of Objectives (SOC), 2.) Performance standards, measures, and metrics…

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(TCO E) Name at least five critical supply chain challenges facing U.S. government prime contractors. (Points: 20)

Five of these challenges include the financial pressures brought about by the global economic downturn, the US government …

(TCO F) Describe a memorandum of understanding and letter of intent. (Points: 20)

A memorandum of understanding is a formal agreement between two or more parties. It is used for the establishment of official partnerships. Although it is …

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(TCO G) Summarize the five main sources of contracting risk, and briefly discuss how contracting is like exchanging one set of risks for another. (Points: 20)

The five man sources of contracting risk are lack of buyer understanding of its requirements; shortcomings of human language and differing interpretations, behavior of the parties, haste, and deception.

The lack of buyer understanding of its requirements is …

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(TCO H) Describe and explain the professionalizing phase in the evolution of a project management organization. Explain and defend why this phase is the most important of the process. Use examples to support your ideas (Points: 20)

The professionalizing phase is the third phase in the evolution of a project management organization. It involves the strengthening of the organization’s …

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(TCO B) Developing evaluation criteria for source selection require three prerequisites. Briefly describe these three prerequisites. (Points: 20)      
One of the criteria is that the buyer must have an understanding of the goods or services that they want to buy. This will become the basis for the specific or …

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(TCO D) Describe and explain simplified non-competitive approach to contracting. Describe and explain formal competitive approach to contracting. Compare and contrast these two types of approaches to contracting. (Points: 16)

The non-competitive approach to contracting is used when the negotiation for an agreement or contract is made with a single individual or firm for the …

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(TCO A) Discuss and explain the purpose of an integrated supply chain. Why is it important? What impact does e-commerce have on an integrated supply chain? What impact does the Internet have on an integrated supply chain? (Points: 18)

An integrated supply chain enables manufacturers to obtain information on the business processes of various suppliers across disparate platforms.  This in turn enables …

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(TCO B) Describe the seller’s pre-award stage of the contract management process. Give an example of the activity that takes place in each step. (Points: 16)

The seller’s pre-award stage of the contract management process is important in the establishment of a successful relationship with the buyer.  In particular, the steps involved in the seller’s pre-award stage are: 1.) Pre-sales activity…

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(TCO E) Describe the role of law in contracts.
A – Explain the role of the contract.
B – Explain the role of common law.
C – Explain the role of civil law.
D – Explain the role of the Uniform Commercial Code (UCC).(Points: 16)

A.    A contract provides businesses and individuals with a legal document that states the contracting parties’ expectations and the manner by which negative situations will be resolved. With a contract …

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(TCO C) Why are award fees and incentive fees important to government contractors? (Points: 16)

Award fees and incentive fees are important to government contractors because they reduce the contractor’s risks on things which they have no control over and …

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(TCO F) Why is determining who has authority an important activity in conducting a negotiation? (Points: 16)

It is important to determine who has authority in conducting a negotiation because the information can be used for …

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(TCO G) What are the three ways that a contract can end? (Points: 16)

The three ways that a contract can end are through successful performance, mutual agreement, and breach of contract. Successful performance means that the purpose …

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(TCO H) Why are the documented lessons learned important for the organization? (Points: 16)

Documented lessons learned are important because they help the organization determine what it did well and what it could do better with regards to project that …

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(TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities. (Points: 16)

The two major types of authority are actual and apparent. Actual authority is that which is intentionally granted to an agent either in an implied manner or in …

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(TCO A) Describe three techniques that build trust and a lasting partnership. Give an example for each technique and how it would impact an organization. (Points: 18)

Three of the techniques that build trust and a lasting partnership are the following: 1.) Listening to the customer, 2.) Returning phone calls and …

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(TCO E) Describe and explain some of the tools and techniques that should be used in source selection. For example, is negotiation the only effective tool for source selection or are there others? (Points: 16)

The tools and techniques that are used in source selection are the following: Contract negotiation, Weighting system, Screening system, and …

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(TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and with time and material agreements. Offer your opinion on which type of contract would best suit your organizational needs if you had to only select one type of agreement for all your suppliers and sub-contractors. (Points: 16)

With a fixed price contract, the agreement is that the service provider would complete a project for a set fee, which is determined at the onset of the project.  A cost reimbursable contract, on the other hand…

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(TCO F) What is source selection, and why is it important? (Points: 16)

Source selection is the process of comparing proposals and selecting the best one.  In particular, this process involves the development of the source selection …

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(TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe the reality of actual global contracts. (Points: 16).

One misconception is that commercial contracting is drastically different from government contracting. On the contrary, though, the processes …

https://www.hiqualitytutorials.com/product/tco-g-there-are-many-misconceptions-pm-598-final-exam/(TCO H) One of the tools and techniques used in contract closeout or termination is compliance verification, briefly describe this tool. (Points: 16)

Compliance verification refers to the administrative tasks that may need to be accomplished before the file is closed out. These administrative tasks include …

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