Tuesday, January 10, 2012

Project Management Quiz - 56

1. Contract administration is done to:
[A]Check the seller meets the schedule
[B]Check the seller meets schedule and quality
[C]Check the buyer meets all contractual requirements
[D]Check that both buyer and seller meet contractual requirements

2. If you are the project manager and your project has contracts what would you not consider when planning for contract administration?
[A]What is the type of contract
[B]Legal requirements of contract
[C]Age of the contractor
[D]Steps for monitoring performance

3. Quality dimension is important for administering which type of contract?
[A]Fixed price contracts
[B]Cost reimbursable contracts
[C]Time and material contracts
[D]All of the above

4. During contract administration you would look into all of the following aspects except:
[A]Performance reviews
[B]Change requests
[C]The list of competitors
[D]Resolving of disputes

5. Before a contract is closed you should:
[A]Terminate the contract
[B]Check that all the work has been satisfactorily completed
[C]Ensure the contract labour has been terminated
[D]Disband the extended team members

6. Your company has contracted out a Fixed price contract and you are involved in contract administration.This means you have to monitor the contractor's:
[D]A and C

7. Before releasing payment your project manager tells you to check that all the costs billed by the contractor are applicable. This means that you are administering a:
[A]Firm fixed price contract
[B]Lump sum contract
[C]Cost reimbursable contract
[D]Any type of contract

8. In a contract a key responsibility of the buyer is to:
[A]Monitor and administer the work
[B]Make the payments as per the contract
[C]Monitor the contractor's labour
[D]All of the above

9. You are working in a large organization that has a specialized contracting department. Whose responsibility will it be to administer the contract?
[A]Contract manager
[C]Project manager
[D]It depends on the contract

10. The _______________ has to raise invoices to receive payments from ______________:
[A]Seller, contract manager
[B]Seller, buyer
[C]Buyer, funding partner
[D]Seller, sponsor

11. At project close out the contractor was unable to provide some reports stipulated in the contract to the buyer.This failure is the responsibility of the?
[A]The contractor's project manager
[B]The contractor's Quality control team
[C]The contract department of seller
[D]The contract department of buyer

12. To avoid disputes in contracts a key aspect that should be clear to both parties at beginning is:
[A]Deliverables linked payments
[B]Emphasis only in escalation of cost
[C]Deliverable schedule with no linkage to milestones and payments during the execution phase
[D]Impact of change on final cost for all types of changes

13. When administering a Time and Material contract you should:
[A]Keep track of the time taken by seller to complete the work
[B]Keep track of the material consumed
[C]Monitor required quality is being met
[D]All of the above

14. You have been assigned to conduct a procurement audit. What aspect should you not look into?
[A]The suitability of the procurement processes
[B]Requirements outside the project scope
[C]Review buyer inputs
[D]A review of the contract administration

15. Your project has a number of contracts. What is not important?
[A]Having uniform contract terms for all the contracts
[B]Using a separate file for each contract
[C]Keeping track of all the contract changes
[D]Verifying the product quality before making payment to contractors

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