Management UPDATED ACTUAL Exam
Questions and CORRECT Answers
- CORRECT ANSWER -
Contract Management - CORRECT ANSWER - The entire process from planning through
contract administration
Contract Manager - CORRECT ANSWER - oversees & manages the entire process -
• Project planning & budget
• Specific development
• Review & evaluation of solicitation responses
• Assuring contract rates/pricing are within budget
• Contract award
Contract Administrator - CORRECT ANSWER - responsible for the post award functions
• Relationship management
• Implementing & monitoring vendor performance 7 contract compliance
• Approving payments
• Managing contract changes
The 3 O's Approach - CORRECT ANSWER - outline, operate and oversee
outline includes - CORRECT ANSWER - • Develop team
• Conduct risk assessment
• Identify the need
Determine procurement method