SOLVED QUESTIONS AND SOLUTIONS
◉ Who is responsible for performance of supply chain? Answer:
Prime contractor
◉ What is a common post-award subcontracting situations during
contract performance? Answer: Failing to designate and maintain a
company official to administer the subcontracting program and
monitor and enforce compliance with the plan
◉ Who's policy is it to maximize opportunities for small businesses?
Answer: The Government
◉ Categories of acquisition Answer: supply, services, construction
◉ FAR 42.302, KO may delegate contract admin office to do what?
Answer: compensation, issurance, post award orientations
◉ Quality Control is who's responsibility? Answer: Contractor
◉ Gov most preferred method of contract financing? Answer:
Performance based payments
, ◉ What requirements are associated with contract payments?
Answer: proper invoice within 30 days of Gov acceptance
◉ What is not a requirement? Answer: Contractor has 30 days to
submit after milestone
◉ Funds are not presently available for this contract. The
Government's obligation under this contract is contingent upon the
availability of appropriated funds from which Answer: Payment for
contract purposes
◉ Communication plans, who are all the people you want to rope in
Answer: Key stakeholder, acquisition team, customers
◉ Gov has right to do what at any time? Answer: Inspect
◉ Who is responsible for acceptance? Answer: KO
◉ Performance risk is the risk that the project will fail to produce
results consistent with project specifications Answer: True
◉ Common tools to mitigate risk Answer: Sensitivity analysis, monte
carlo, symmetric approximation