NCMA CCMA Study Guide Questions & Answers. VERIFIED/LATEST UPDATES, 2024/25/ EXAMS PREDICTION PAPER/

NCMA CCMA Study Guide Questions & Answers. VERIFIED The actions of a contract manager to develop solicitations, develop offers, form contracts, perform contracts, and close contracts. - -Contract Management The authorized representative or agent for a contracting party. - -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. - -Contract The execution of the terms of a contract. - -Contract performance For contract management, these principles apply to all contract managers in all phases of the contract life cycle. - -Guiding Principles The phases of a contract: pre-award, award, and post-award. - -Contract Life Cycle Phases The areas within a contract life cycle phase that produce significant contract management outcomes. - -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. - -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. - -Job Tasks The process of managing contracts throughout the contract life cycle while ensuring customer satisfaction. - -Contract Management Negotiations, changes, requirement interpretations, deliverables, contract terms and conditions, and risk management are actions of who? - -Contract Manager The contracted party with the requirement for goods and/or services to be fulfilled by one or more sellers. - -Buyer The contracted party tasked with fulfilling the buyer's requirement for goods and/or services. - - 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. - -Plan Solicitation The process of implementing the solicitation plan by soliciting responses from sellers in order to fulfill a customer need. - -Request Offers The process of describing all the elements of the customer requirements (technical, business, regulatory, etc.) to the sellers. - -Develop Solicitation The organization's ability to execute the sales plan as it assembles an offer to win business. - - Prepare Offer The process of Determining reasonable cost and pricing, Conducting negotiations, Selecting the source, and Managing disagreements. - -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. - -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. - -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. - -Select Source The process of resolving conflict between potential and actual contracted parties in order to maintain legal conformity - -Manage Disagreement