PJM400 Quizzes
Module 1
Plan Procurement Management is which of the following?
The process of documenting project procurement decisions, approaches, and
identifying potential sellers
What are some of the considerations needed for procurement activities to be
considered as a strategic initiative in an organization?
Market penetration, revenue growth, profit maximization, and shareholder value
Critical items have ______ and _______ potential?
High risk and high procurement
What is the role of procurement?
To deliver the right amount of materials or services to: the right place, the right time, and for
the right price.
A _______ should clearly state the deliverables and results expected, including any
knowledge transfer to the buyer.
Contract
The Project Procurement Management processes involve agreements that describe the
relationship between which two parties?
Buyer and seller
Bottleneck items have _____ and ______ potential?
High risk and low procurement
What is a project?
Temporary and unique endeavor that produces a product, service or result
When is the project manager also the procurement manager?
In organizations that do not have a defined procurement department.
, What is the first step in the procurement process?
Recognition of need
The benefits of such procurement positioning include: reducing the total cost of ownership;
improving the quality of the procurement process; improving the efficiency of the procurement
process and earlier sales or production due to _________?
Reduced cycle time
A ranking of high or low in terms of risk exposure and procurement potential is assigned with
respect to four categories. These four categories are:
Critical, leverage, bottleneck, and routine
What are the three steps in the procurement management process?
Plan, conduct, and control
What is a contract?
A legally blinding agreement between two parties to deliver goods or services
What is Project Management?
Application of project management knowledge and defined tools and techniques to
deliver a project successfully.
Leverage items have ______ and _____ potential?
Low risk and high procurement
What is Project Procurement Management?
The acquisition of goods and services
As complex as some procurements and contracts can be, they can be broken down into
four distinguished procurement components of:
Planning, conducting, administering, and closing
What is a project portfolio?
The collective governance of programs or projects
Module 1
Plan Procurement Management is which of the following?
The process of documenting project procurement decisions, approaches, and
identifying potential sellers
What are some of the considerations needed for procurement activities to be
considered as a strategic initiative in an organization?
Market penetration, revenue growth, profit maximization, and shareholder value
Critical items have ______ and _______ potential?
High risk and high procurement
What is the role of procurement?
To deliver the right amount of materials or services to: the right place, the right time, and for
the right price.
A _______ should clearly state the deliverables and results expected, including any
knowledge transfer to the buyer.
Contract
The Project Procurement Management processes involve agreements that describe the
relationship between which two parties?
Buyer and seller
Bottleneck items have _____ and ______ potential?
High risk and low procurement
What is a project?
Temporary and unique endeavor that produces a product, service or result
When is the project manager also the procurement manager?
In organizations that do not have a defined procurement department.
, What is the first step in the procurement process?
Recognition of need
The benefits of such procurement positioning include: reducing the total cost of ownership;
improving the quality of the procurement process; improving the efficiency of the procurement
process and earlier sales or production due to _________?
Reduced cycle time
A ranking of high or low in terms of risk exposure and procurement potential is assigned with
respect to four categories. These four categories are:
Critical, leverage, bottleneck, and routine
What are the three steps in the procurement management process?
Plan, conduct, and control
What is a contract?
A legally blinding agreement between two parties to deliver goods or services
What is Project Management?
Application of project management knowledge and defined tools and techniques to
deliver a project successfully.
Leverage items have ______ and _____ potential?
Low risk and high procurement
What is Project Procurement Management?
The acquisition of goods and services
As complex as some procurements and contracts can be, they can be broken down into
four distinguished procurement components of:
Planning, conducting, administering, and closing
What is a project portfolio?
The collective governance of programs or projects
