Practice Quiz

PMI PMP Project Management - Question List

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91. True or false: For the seller of services, a Fixed Price plus Incentive contract is riskier than a Cost plus Fixed Fee contract.
  1. True
  2. False
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92. Which are valid reasons for a non-competitive procurement process? Select all that apply:
  1. Approved vendor in centralized procurement with set rate card
  2. No other vendors can perform work
  3. Friend owns a vendor that PM knows can do that work
  4. Time pressure
  5. Company has a patent on the required good or process
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93. What is a potential downside to a Fixed Price contract with a vendor if you are buying services? Select all that apply.
  1. The vendor might cut corners on the quality of materials.
  2. The vendor will not control material costs.
  3. he vendor does not have any incentives to finish the project on time.
  4. The vendor may price in a margin of safety.
  5. None of the above.
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94. Who has the cost risk in a fixed fee plus cost project?
  1. The buyer
  2. The seller
  3. The cost risk is shared
  4. The project manager
  5. None of the above
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95. Boris is back from vacation. To accelerate the project which fell behind while he was on the beach, he is authorizing a subsequent project phase to begin before its predecessor phase has been completed. This is an example of which of the following?
  1. Crashing
  2. Critical chain method
  3. Fast tracking
  4. Floating
  5. Slacking
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