NCMA CCMA Study Guide Questions with 100% Complete Solutions, Rated to Pass

The actions of a contract manager to develop solicitations, develop offers, form contracts, perform co ntracts, and close contracts. - cORRECT sOLUTION Contract Management The authorized representative or agent for a contracting party. - cORRECT sOLUTION Contract Manager A mutually binding legal relationship obligating the seller to furnish supplies or services and the buyer to provide consideration in exchange for them. - cORRECT sOLUTION Contract The execution of the terms of a contract. - cORRECT sOLUTION Contract performance For contract management, these principles apply to all contract managers in all phases of the contract life cycle. - cORRECT sOLUTION Guiding Principles The phases of a contract: pre-award, award, and post-award. - cORRECT sOLUTION Contract Life Cycle Phases The areas within a contract life cycle phase that produce significant contract management outcomes. - cORRECT sOLUTION Domains The processes utilized to produce the expected contract management outcomes of the domains. These processes involve the ability to perform multiple job tasks, both simultaneously and sequentially, while achieving meaningful results. - cORRECT sOLUTION Competencies The tasks performed on a routine basis by contract managers. Contract managers systematically process the job tasks to achieve the expected results of the competencies. - cORRECT sOLUTION Job Tasks The process of managing contracts throughout the contract life cycle while ensuring customer satisfaction. - cORRECT sOLUTION Contract Management Negotiations, changes, requirement interpretations, deliverables, contract terms and conditions, and risk management are actions of who? - cORRECT sOLUTION Contract Manager The contracted party with the requirement for goods and/or services to be fulfilled by one or more sellers. - cORRECT sOLUTION Buyer The contracted party tasked with fulfilling the buyer's requirement for goods and/or services. - cORRECT sOLUTION Seller The process by which efforts of all personnel responsible for acquiring goods or services are coordinated and integrated through a comprehensive plan for fulfilling the customer need in a timely manner at a reasonable cost. - cORRECT sOLUTION Plan Solicitation The process of implementing the solicitation plan by soliciting responses from sellers in order to fulfill a customer need. - cORRECT sOLUTION Request Offers The process of describing all the elements of the customer requirements (technical, business, regulatory, etc.) to the sellers. - cORRECT sOLUTION Develop Solicitation The organization's ability to execute the sales plan as it assembles an offer to win business. - cORRECT sOLUTION Prepare Offer The process of Determining reasonable cost and pricing, Conducting negotiations, Selecting the source, and Managing disagreements. - cORRECT sOLUTION Form Contract The process of examining and evaluating an offeror's proposed price without evaluation of the separate detailed cost elements and proposed profit of the offeror's price proposal. - cORRECT sOLUTION Price Analysis The process of preparing for interaction between the buyer and seller regarding all aspects of the offer and its terms, and often involves clarifying requirements and parties requesting changes or consideration of an alternate approach that may be consistent with the solicitation requirements. - cORRECT sOLUTION Plan Negotiations The process of analyzing submitted offers in accordance with the solicitation evaluation criteria to select the source that has the highest probability of satisfactory contract performance. - cORRECT sOLUTION Select Source The process of resolving conflict between potential and actual contracted parties in order to maintain legal conformity - cORRECT sOLUTION Manage Disagreements The process of executing contract requirements, managing business relationships, ensuring quality, and managing changes - cORRECT sOLUTION Perform Contract The process of Confirming expectations, Maintaining communication channels, Processing contract documentation, Conducting post-award performance reviews, and Assessing contract performance. - cORRECT sOLUTION Administer Contract The process of Planning for contract performance delivery and monitoring, and Inspecting and accepting contract performance. - cORRECT sOLUTION Ensure Quality The management of contracts in support of the prime contract. - cORRECT sOLUTION Manage Subcontracts The process of Initiating, considering, negotiating, and issuing contract modifications; and Maintaining configuration control of the contract and subsequent contract performance. - cORRECT sOLUTION Manage Changes The process of Verifying all the requirements of the contract are satisfied, Settling unresolved matters, and Reconciling the contract to make final payment. - cORRECT sOLUTION Close Contract The process of ensuring All performance has been accomplished, Final contractor performance has been evaluated, Final payment has been made, and The contract has been reconciled. - cORRECT sOLUTION Close Out Contract Helps to define the ethical behavior expected of all contract managers and their organizations. - cORRECT sOLUTION Standards of Conduct