Question.3646 - Project Procurement FormName: ________________________ The process of obtaining goods and services from an outside source is known as __________. A legally binding agreement between two or more parties is called a __________. A contract in which the buyer pays the seller a set amount regardless of costs incurred is called a __________ contract. In a __________ contract, the seller is reimbursed for all allowable costs and paid a fixed fee. The process of managing the relationships and contracts for the procurement of goods and services is called __________. The document that formally authorizes the procurement of goods or services is called a __________. __________ refers to the evaluation and selection of suppliers based on price, quality, and service. The process of planning procurement decisions, identifying potential suppliers, and defining procurement methods is called __________. __________ is the process of obtaining responses from sellers and selecting a seller. A __________ is a document used to solicit bids from potential suppliers. The __________ outlines the specific deliverables, timelines, and responsibilities between the buyer and seller. The process of ensuring that the seller’s performance meets the contractual terms is called __________. A contract that allows for adjustment to the price based on changes in conditions is called a __________ contract. A __________ occurs when the project scope expands beyond what was originally agreed upon. The method used to evaluate proposals from suppliers based on both cost and non-cost factors is called __________ procurement. __________ clauses in contracts help protect parties from unforeseen events such as natural disasters. A __________ is a formal request to modify a contract. __________ refers to the risk that one party will not fulfill their contractual obligations. A document that describes the procurement process, timelines, and responsibilities is called the __________ management plan. __________ analysis is a technique used to compare different procurement options, such as buying or leasing. __________ is the process of documenting and approving any changes made to the procurement contracts. A __________ is issued to formally accept the products or services delivered under a contract. The term __________ refers to ensuring that all suppliers have access to the same information during the bidding process. __________ refers to the inspection of supplier deliverables to ensure they meet contractual requirements. The process of closing procurement contracts, ensuring all obligations are fulfilled, is called __________. A __________ is a formal agreement between a buyer and seller for the purchase of goods or services. The __________ is responsible for managing the procurement process in a project. __________ management involves ensuring that suppliers meet their obligations and resolving any performance issues. __________ is the method used to identify, assess, and manage risks related to procurement. A __________ contract sets a specific price for each unit of work or product. __________ refers to reducing the supplier base to a select few strategic suppliers. The document that outlines the seller’s proposed solution, price, and terms is called a __________. __________ refers to the evaluation of supplier performance based on agreed-upon key performance indicators (KPIs). __________ is a technique used to analyze the total cost of ownership for procurement options. A __________ contract is used when the scope of work cannot be clearly defined and is subject to change. __________ is the process of communicating procurement needs to potential suppliers. A __________ is a request for suppliers to submit a formal proposal for goods or services. __________ is a document that specifies the quality and characteristics of the product or service being procured. The process of negotiating the terms and conditions of a contract with a supplier is called __________. __________ refers to the official termination of a contract when all deliverables have been completed and accepted. The __________ is the buyer's legal representative responsible for ensuring the contract terms are met. __________ refers to the set of criteria used to assess potential suppliers during the selection process. A __________ contract is based on the actual time spent and materials used for the project. __________ refers to the financial, operational, and legal risks that must be managed during procurement. __________ is the process of determining whether to perform work internally or outsource it to an external supplier. __________ refers to the documentation of costs incurred during procurement activities. __________ refers to the ability of a supplier to scale production or services to meet the buyer’s needs. A __________ is a legally enforceable agreement that requires parties to take or refrain from specific actions. __________ refers to the ability of a supplier to maintain supply during disruptions or crises. __________ is the document used to solicit pricing information from suppliers.
Answer Below:
The xxxxxxx of xxxxxxxxx goods xxx services xxxx an xxxxxxx source xx known xx procurement x legally xxxxxxx agreement xxxxxxx two xx more xxxxxxx is xxxxxx a xxxxxxxx A xxxxxxxx in xxxxx the xxxxx pays xxx seller x set xxxxxx regardless xx costs xxxxxxxx is xxxxxx a xxxxxxxxxxx contract xx a xxxxxxxxx contract xxx seller xx reimbursed xxx all xxxxxxxxx costs xxx paid x fixed xxx The xxxxxxx of xxxxxxxx the xxxxxxxxxxxxx and xxxxxxxxx for xxx procurement xx goods xxx services xx called xxxxxxxx administration xxx document xxxx formally xxxxxxxxxx the xxxxxxxxxxx of xxxxx or xxxxxxxx is xxxxxx a xxxxxxxx order xxxxxxxx selection xxxxxx to xxx evaluation xxx selection xx suppliers xxxxx on xxxxx quality xxx service xxx process xx planning xxxxxxxxxxx decisions xxxxxxxxxxx potential xxxxxxxxx and xxxxxxxx procurement xxxxxxx is xxxxxx procurement xxxxxxxx Source xxxxxxxxx is xxx process xx obtaining xxxxxxxxx from xxxxxxx and xxxxxxxxx a xxxxxx A xxxxxxx for xxxxxxxx is x document xxxx to xxxxxxx bids xxxx potential xxxxxxxxx The xxxxxxxxx of xxxx outlines xxx specific xxxxxxxxxxxx timelines xxx responsibilities xxxxxxx the xxxxx and xxxxxx The xxxxxxx of xxxxxxxx that xxx seller x performance xxxxx the xxxxxxxxxxx terms xx called xxxxxxxx monitoring x contract xxxx allows xxx adjustment xx the xxxxx based xx changes xx conditions xx called x price-adjustment xxxxxxxx A xxxxx creep xxxxxx when xxx project xxxxx expands xxxxxx what xxx originally xxxxxx upon xxx method xxxx to xxxxxxxx proposals xxxx suppliers xxxxx on xxxx cost xxx non-cost xxxxxxx is xxxxxx best-value xxxxxxxxxxx Force xxxxxxx clauses xx contracts xxxx protect xxxxxxx from xxxxxxxxxx events xxxx as xxxxxxx disasters x contract xxxxxxxxxxxx request xx a xxxxxx request xx modify x contract xxxxxxxxxxx risk xxxxxx to xxx risk xxxx one xxxxx will xxx fulfill xxxxx contractual xxxxxxxxxxx A xxxxxxxx that xxxxxxxxx the xxxxxxxxxxx process xxxxxxxxx and xxxxxxxxxxxxxxxx is xxxxxx the xxxxxxxxxxx management xxxx Make-or-buy xxxxxxxx is x technique xxxx to xxxxxxx different xxxxxxxxxxx options xxxx as xxxxxx or xxxxxxx Change xxxxxxx is xxx process xx documenting xxx approving xxx changes xxxx to xxx procurement xxxxxxxxx A xxxxxxxxxxx of xxxxxxxxxx is xxxxxx to xxxxxxxx accept xxx products xx services xxxxxxxxx under x contract xxx term xxxxx access xxxxxx to xxxxxxxx that xxx suppliers xxxx access xx the xxxx information xxxxxx the xxxxxxx process xxxxxxxxxx refers xx the xxxxxxxxxx of xxxxxxxx deliverables xx ensure xxxx meet xxxxxxxxxxx requirements xxx process xx closing xxxxxxxxxxx contracts xxxxxxxx all xxxxxxxxxxx are xxxxxxxxx is xxxxxx contract xxxxxxxx A xxxxxxxx agreement xx a xxxxxx agreement xxxxxxx a xxxxx and xxxxxx for xxx purchase xx goods xx services xxx contract xxxxxxxxxxxxx is xxxxxxxxxxx for xxxxxxxx the xxxxxxxxxxx process xx a xxxxxxx Supplier xxxxxxxxxx involves xxxxxxxx that xxxxxxxxx meet xxxxx obligations xxx resolving xxx performance xxxxxx Risk xxxxxxxxxx is xxx method xxxx to xxxxxxxx assess xxx manage xxxxx related xx procurement x unit xxxxx contract xxxx a xxxxxxxx price xxx each xxxx of xxxx or xxxxxxx Supplier xxxxxxxxxxxxxxx refers xx reducing xxx supplier xxxx to x select xxx strategic xxxxxxxxx The xxxxxxxx that xxxxxxxx the xxxxxx s xxxxxxxx solution xxxxx and xxxxx is xxxxxx a xxxxxxxx Supplier xxxxxxxxxxx evaluation xxxxxx to xxx evaluation xx supplier xxxxxxxxxxx based xx agreed-upon xxx performance xxxxxxxxxx KPIs xxxxxxxxxx cost xxxxxxxx is x technique xxxx to xxxxxxx the xxxxx cost xx ownership xxx procurement xxxxxxx A xxxx and xxxxxxxxx contract xx used xxxx the xxxxx of xxxx cannot xx clearly xxxxxxx and xx subject xx change xxxxxxxxxxxx is xxx process xx communicating xxxxxxxxxxx needs xx potential xxxxxxxxx A xxxxxxx for xxxxxxxxx RFQ xx a xxxxxxx for xxxxxxxxx to xxxxxx a xxxxxx proposal xxx goods xx services xxxxxxxxxxxxx is x document xxxx specifies xxx quality xxx characteristics xx the xxxxxxx or xxxxxxx being xxxxxxxx The xxxxxxx of xxxxxxxxxxx the xxxxx and xxxxxxxxxx of x contract xxxx a xxxxxxxx is xxxxxx contract xxxxxxxxxxx Contract xxxxxxxxxxx refers xx the xxxxxxxx termination xx a xxxxxxxx when xxx deliverables xxxx been xxxxxxxxx and xxxxxxxx The xxxxxxxxxxx officer xx the xxxxxxx legal xxxxxxxxxxxxxx responsible xxx ensuring xxx contract xxxxx are xxx Supplier xxxxxxxxx Criteria xxxxxx to xxx set xx criteria xxxx to xxxxxx potential xxxxxxxxx during xxx selection xxxxxxx A xxxxxxxxxxxxxxxxxx contract xx based xx the xxxxxx time xxxxx and xxxxxxxxx used xxx the xxxxxxx Procurement xxxx refers xx the xxxxxxxxx operational xxx legal xxxxx that xxxx be xxxxxxx during xxxxxxxxxxx Outsourcing xxxxxxxx is xxx process xx determining xxxxxxx to xxxxxxx work xxxxxxxxxx or xxxxxxxxx it xx an xxxxxxxx supplier xxxx tracking xxxxxx to xxx documentation xx costs xxxxxxxx during xxxxxxxxxxx activities xxxxxxxxxxx refers xx the xxxxxxx of x supplier xx scale xxxxxxxxxx or xxxxxxxx to xxxx the xxxxx s xxxxx A xxxxxxxx is x legally xxxxxxxxxxx agreement xxxx requires xxxxxxx to xxxx or xxxxxxx from xxxxxxxx actions xxxxxx chain xxxxxxxxxx refers xx the xxxxxxx of x supplier xx maintain xxxxxx during xxxxxxxxxxx or xxxxxx RFQ xx the xxxxxxxx used xx solicit xxxxxxx information xxxx suppliersMore Articles From Management
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