CTCM Questions and Answers 100% Solved
Why is Contract Monitoring important? check progress, document trends, ensure both
parties are meeting terms
Quality Assessment Plan QAP an essential monitoring tool that provides the contract
manager with what tasks will be inspected, when they will be inspected, what monitoring
methods will be used, how performance will be evaluated, how performance will be accepted, &
who is responsible for each activity.
Contract Level Risk Assessment helps identify high risk contracts that may need extra
attention and frequent monitoring
Deliverable terms and condidtions level risk assessment specific to a contract, monitoring
reference tool that tracks deliverables due to be received from the contractor, & each deliverable
is assigned a risk level when monitored.
Types of Risks Performance
Financial
, Schedule
Insurance a common risk mitigation measure
Insurance, licenses, certifications contract manager must make sure all are always up to
date for the duration of the contract
Contract value total value over the term of the contract - includes renewals etc.
Schedule Risk Time or timeline related risk
Financial Risk cost or value related risk
Performance Risk Service related risk
What should always be tied together deliverables and milestones
Deliverables the actual items received; includes status reports
Why is Contract Monitoring important? check progress, document trends, ensure both
parties are meeting terms
Quality Assessment Plan QAP an essential monitoring tool that provides the contract
manager with what tasks will be inspected, when they will be inspected, what monitoring
methods will be used, how performance will be evaluated, how performance will be accepted, &
who is responsible for each activity.
Contract Level Risk Assessment helps identify high risk contracts that may need extra
attention and frequent monitoring
Deliverable terms and condidtions level risk assessment specific to a contract, monitoring
reference tool that tracks deliverables due to be received from the contractor, & each deliverable
is assigned a risk level when monitored.
Types of Risks Performance
Financial
, Schedule
Insurance a common risk mitigation measure
Insurance, licenses, certifications contract manager must make sure all are always up to
date for the duration of the contract
Contract value total value over the term of the contract - includes renewals etc.
Schedule Risk Time or timeline related risk
Financial Risk cost or value related risk
Performance Risk Service related risk
What should always be tied together deliverables and milestones
Deliverables the actual items received; includes status reports
