PROJ 598 Final Exam

Jul 6th, 2016
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DeVry University
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Page 1 1. (TCO H) What is the maximum value of a verbal contract? (Points : 5) 2. (TCO F) Which is not part of the award phase of the contract management process? (Points : 5) 3. (TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities. (Points : 16) 4. 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) 5. (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) 6. ((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) Page 2 1. (TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and with time and m

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Week 8: Final Exam - Final ExamTime Remaining:Page:1 2 3Page 11. (TCO H) What is the maximum value of a verbal contract? (Points : 5)$100$200$3004005002. (TCO F) Which is not part of the award phase of the contract management process? (Points : 5)Source selectionContract negotiationContract formationContract administrationAll of the above3. (TCO D) What are two major types of authority applicable to a contract manager/projectmanager? Briefly explain each of these authorities. (Points : 16)Answer The two major types of authority are actual authority and apparent authority. Actual authority isauthority that is granted intentionally to the contract or project manager and can be either express or impliedbased on their position in the company. The other type of authority is apparent authority, which is authority thatis not actually granted but the contract or project manager is allowed to exercise this authority based on theirposition and for ensuring that they are able to complete the tasks that they are responsible for.4. TCO A) Describe three techniques that build trust and a lasting partnership. Give anexample for each technique and how it would impact an organization. (Points : 18)Answer Three techniques that would help in building trust and a lasting partnership are explained below alongwith an example on how it would positively impact the organization1.2.3.Listening to the customer It is very essential that we are abl

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