12A Procurement

Front 1

Priority order of Cost, Time, and Performance for CPFF is?

Back 1

Cost, Time, Performance

Front 2

Priority order of Cost, Time, and Performance for CPAF is?

Back 2

Cost, Time, Performance

Front 3

Priority order of Cost, Time, and Performance for CPIF is?

Back 3

Time, Performance, Cost

Front 4

Priority order of Cost, Time, and Performance for T&M is?

Back 4

Performance, Time, Cost

Front 5

Priority order of Cost, Time, and Performance for FPIF is?

Back 5

Time, Performance, Cost

Front 6

Priority order of Cost, Time, and Performance for FP is?

Back 6

Cost, Time, Performance

Front 7

What type of contract? You need work to begin right away

Back 7

T&M

Front 8

What type of contract? You want to buy expertise in determining what needs to be done

Back 8

CR

Front 9

What type of contract? You know exactly what needs to be done

Back 9

FP

Front 10

What type of contract? You are buying a programmers services to augment your staff

Back 10

T&M

Front 11

What type of contract? You need work done, but have time to audit the invoices

Back 11

FP

Front 12

What type of contract? You need to rebuild a bridge ASAP after a storm

Back 12

FPIF

Front 13

What type of contract? The project requires a high level of expertise to complete, and you want to have the best performance possible in a finished product

Back 13

CPIF or CPAF

Front 14

What type of contract? You need to hire a contractor to perform research and development

Back 14

CR

Front 15

What type of contract? The scope of work is complete, but the economy is currently unpredictable

Back 15

FPEPA

Front 16

What type of contract? You are buying a standard commodities

Back 16

Purchase order

Front 17

Cost Reimbursable, Time & Material, Fixed Price: Generally, what is being bought?

Back 17

Cost Reimbursable: Service, goods may be included Time & Material: Service Fixed Price: Goods

Front 18

Cost Reimbursable, Time & Material, Fixed Price: Describe how the costs to the buyer might be stated in the contract

Back 18

Cost Reimbursable: Costs are variable, but the fee is fixed Time & Material: Hourly rate or price per unit Fixed Price: As a set currency amount

Front 19

Cost Reimbursable, Time & Material, Fixed Price: Describe how the profit to the buyer might be stated in the contract

Back 19

Cost Reimbursable: Listed separately and known to the buyer Time & Material: Included in the hourly rate and may be unknown to the buyer Fixed Price: Included in the price and unknown to the buyer

Front 20

Cost Reimbursable, Time & Material, Fixed Price: What is the cost risk to the buyer? (High, Medium, or Low)

Back 20

Cost Reimbursable: High - Increases in costs are reimbursed by the buyer Time & Material: Medium - the costs are not fixed, this contract type is used for small purchases Fixed Price: Low - increases in cost are born by the seller

Front 21

Cost Reimbursable, Time & Material, Fixed Price: How important is a detailed SOW?

Back 21

Cost Reimbursable: Low - the procurement SOW only needs to describe the performance or requirements since the seller provides the work. The buyer pays all costs, so there is less need to finalize the scope Time & Material: Low - this type traditionally has very little scope and may only describe skill sets required Fixed Price: High - the procurement SOW must be complete so the seller knows exactly what work needs to be done in order to come up with an accurate price to do the work

Front 22

Cost Reimbursable, Time & Material, Fixed Price: What industry uses this most for its contracts?

Back 22

Cost Reimbursable: IT, research, development - when the work has never been done before Time & Material: legal, plumbing, programming - when hiring for an hourly rate Fixed Price: construction - complete scope of work is needed

Front 23

Cost Reimbursable, Time & Material, Fixed Price: How much negotiation is usually required to sign a contract after receipt of the seller's price? (High, Medium, or Low)

Back 23

Cost Reimbursable: High - all estimated costs are looked at to calculate the fee to be fixed Time & Material: Low or none Fixed Price: None

Front 24

Cost Reimbursable, Time & Material, Fixed Price: What level of effort and expertise will the buyer need to devote to managing the seller? (High, Medium, or Low)

Back 24

Cost Reimbursable: High Time & Material: Medium Fixed Price: Low

Front 25

Cost Reimbursable, Time & Material, Fixed Price: How are costs billed to the buyer?

Back 25

Cost Reimbursable: Actual costs are incurred, profit at completion or apportioned, as allowed in the contract Time & Material: Hourly or per unit rate (which includes all costs and profit) Fixed Price: Fixed price (which includes profit) according to a payment schedule as work is competed and as allowed in the contract

Front 26

Cost Reimbursable, Time & Material, Fixed Price: How much auditing of the seller's costs will the buyer need to do? (High, Medium, or Low)

Back 26

Cost Reimbursable: High - all costs must be audited and there will be a large amount of costs Time & Material: None - there may be an audit of work hours completed against those billed, but that will take little effort Fixed Price: Low - since the overall contract costs are fixed, auditing usually focuses on making sure work is complete, not looking at detailed cost receipts

Front 27

Which would win a dispute over contract interpretation: 1. Contract Language or 2. A memo by one of the parties describing proposed changes after the contract was signed

Back 27

1. Contract Language

Front 28

Which would win a dispute over contract interpretation: 1. Contract Language or 2. A memo signed by both parties before the contract is signed that describes what was agreed to during negotiations

Back 28

1. Contract Language

Front 29

Which would win a dispute over contract interpretation: 1. Contract terms & Conditions or 2. Procurement SOW

Back 29

1. Contract terms & Conditions or 2. Procurement SOW

Front 30

Which would win a dispute over contract interpretation: 1. Common definition or 2. The intended meaning (without supplying a definition)

Back 30

1. Common definition

Front 31

Which would win a dispute over contract interpretation: 1. Industry use of the term or 2. Common use of the term

Back 31

1. Industry use of the term

Front 32

Which would win a dispute over contract interpretation: 1. Special provision or 2. General provisions

Back 32

1. Special provision

Front 33

Which would win a dispute over contract interpretation: 1. Typed-over wording on the contract or 2. A handwritten comment on the contract that is also initialed

Back 33

2. A handwritten comment on the contract that is also initialed

Front 34

Which would win a dispute over contract interpretation: 1. Numbers or 2. Words

Back 34

2. Words

Front 35

Which would win a dispute over contract interpretation: 1. Detailed terms or 2. General terms

Back 35

1. Detailed terms