Itm 5300 Midterm

Front 1

What is E-Procurement?

Back 1

A web-based process that enables enterprises to manage their purchases across the entire requisition-to-payment cycle online.

Front 2

What are the benefits of e-procurement?

Back 2

- Lowering of Procurement Costs
- Easy tracking of transactions and automated payments
- Better Control
- Automate repetitive tasks

Front 3

What are the obstacles of e-procurement?

Back 3

- E-enabling / finding new suppliers
- Need for strong collaboration
- Capacity to deliver
- Transactional cost
- Availability of content and transparency of the process

Front 4

What are the inputs to Procurement Planning?

Back 4

- scope statement
-product / services description
- Procurement Resources
- Market Conditions
- Constraints
- Assumptions

Front 5

What are the two methods of Procurement?

Back 5

- Competitive
- Non-Competitive

Front 6

What are the items in a Procurement Management Plan?

Back 6

- Type of contract
- Who will create the independent estimates if required? (Evaluation Criteria)
- Who will take what actions to ensure effective procurement occurs?
- Where will the required procurement documentation be found?
- How will multiple providers be managed?
- How will procurement be coordinated?

Front 7

What is the definition of a contract?

Back 7

A legally enforceable agreement creating obligations between two or more parties. It consists of an offer and the acceptance of that offer. The core of most contracts is a set of mutual promises (in legal terminology, "consideration"). The promises made by the parties define the rights and obligations of the parties.

Front 8

Who can enter into a contract?

Back 8

Those who are competent, legal age, and authorized can sign a contract

Front 9

What are the 7 Components of the Procurement Management Process?

Back 9

- Defining the requirement
- Selecting an acquisition strategy
- Developing the tender / RFP
- Evaluate Tender / RFP Response
- Awarding the contract and implementation
- Execution Management
- Evaluation & Succession Planning

Front 10

What is the definition of consideration?

Back 10

What one party to a contract will get from the other party in return for performing contract obligations

Front 11

What is a termination clause?

Back 11

- provides a process and protection
- ensure that either or both parties have the right to terminate the contract under certain circumstances.
- Provides the IT Manager the grounds to get out of the contract
- Must be 2-sided

Front 12

What are some common terms and conditions of a contract?

Back 12

- intellectual property rights
- limiting liability
- liquidated damages
- ensuring/implied acceptance
- software licensing requirements
- protection of proprietary information
-termination and cancellation

Front 13

What is Limiting Liability?

Back 13

- A clause limiting the total liability is usually found within the general Terms and Conditions.
- Ceiling monetary amount

Front 14

What is Liquidated Damages?

Back 14

monetary amounts, agreed to in advance, that will act as compensation for harm resulting from a violation of contract terms. The amount must represent compensation rather than be punitive. Liquidated damages usually appear in the Statement of Work or other Schedule

Front 15

What are Duties and Obligations?

Back 15

a detailed description of the duties and obligations of the parties and the deadlines for performance.

Front 16

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Back 16

beta lactam antibiotics

Front 17

Why do you want to identify the potential service providers?

Back 17

- Research the marketplace to determine who can provide the service or product required.
- Identify relevant industry standards.
- Identify if other organizational entities have contracted for similar support and learn from their experiences.
- Identify their track record

Front 18

What is a SOO

Back 18

- a prepared document that states the overall solicitation objectives without specifying individual activities to be accomplished.
- This document is much more generic in nature
- Are intended to provide maximum flexibility to the contractor to propose an innovative approach
- utilize the vendor’s innovation and flexibility to solve your problem

Front 19

What are the primary elements to the SOO?

Back 19

- purpose statement
- scope statement (required)
- period of performance
- place of performance
- background (required)
- program objectives (required)
- constraints

Front 20

What are the primary differences between a SOW and a PWS?

Back 20

If there are required performance measures than it must be written as a PWS.

Front 21

What is the purpose of Evaluation Criteria?

Back 21

helps IT managers make the right selection of the vendor
- Answers: What is most important to you?
- Answers: What would make you believe that the vendor can do what you want?

Front 22

What are the 7 primary IT Evaluation Criteria?

Back 22

- Past Performance
- Technical Approach
- Management Approach
- Mission Capability
- Staffing
- Risk (Level Assumed)
- Cost and Price

Front 23

What does the RFP cover letter outline?

Back 23

- Outlines the “so what” of the procurement action
- an annotation of the who, what, how, where questions should be directed

Front 24

What is the content of an RFP Cover letter?

Back 24

1. Short acknowledgement of the scope of the contract
2. Short description of the timelines for contractors to submit their responses
3. Provides POCs for questions and where the responses should be submitted

Front 25

What are the 6 major processes of Procurement Management?

Back 25

- Procurement planning
- Solicitation Planning
- Solicitation
- Source Selection
- Contract Administration
- Contract Close-Out

Front 26

Who assumes the most risk in a firm fixed price or lump sum contract?

Back 26

the Contractor

Front 27

Who assumes the most risk for a cost reimbursable contract?

Back 27

The Buyer / ITM

Front 28

Who assumes the most risk for a Time & Materials Contract?

Back 28

The Buyer / ITM

Front 29

What is the Requirements Analysis Process?

Back 29

1. Engage Stakeholders
2. Consider the impact
3. Conducts Risk Assessment
4. Identify Product or Service
5. Identify Potential Providers
6. Determines independent government cost
7. Procurement strategy

Front 30

Why is Requirement Analysis important?

Back 30

1. Transformed into requirements and specifications
2. Top-Level decomposed to lower level
3. Specifications drive system design.
4. Answers "Why?"