CPCM CHAPTER 2- MANAGEMENT PRACTICE
TEST QUESTIONS AND ANSWERS 100%
CORRECT!
, Detailed contract analysis - ANSWERA document listing the contractual obligations and
requirements for the seller as well as for the buyer; the list contains the information
extracted and provided in the form of a contract calendar which listed as every "seller
will or shall" and its due date (if known) down to the task level
Portfolio - ANSWERIncludes all programs and projects in an organization; may be for
organization as a whole or individual lines of business
Scope - ANSWERAll the work required to deliver the product or outcome of a project
Baseline - ANSWERThe original plan plus all approved changes (scope, schedule, cost)
Program - ANSWERA group of projects and subprojects that are interdependent for the
program's success, which happen in parellel, or in different stages, phases, or
sequences
Opportunity - ANSWERMeasure of the probability of a positive desired change
occurring and the desired impact of that event
Kraljic Matrix - ANSWERA tool for portfolio analysis: a four-box matrix that reflects the
segmentation of spend based on an assessment of the value of the spend relative to
the market risk to acquire
Spend analysis - ANSWERAnalysis of the historical spending patterns in an
organization, usually by commodity or category
Condition subsequent - ANSWERa phrase that suspends a term
Budget - ANSWERestimate of income and expenditure for a set period of time
Constraint - ANSWERThe state, quality, or sense of being restricted to a given course
of action or interaction
Condition precedent - ANSWERa phrase that activates a term
Term - ANSWERpart of the contract that addresses a specific subject
TEST QUESTIONS AND ANSWERS 100%
CORRECT!
, Detailed contract analysis - ANSWERA document listing the contractual obligations and
requirements for the seller as well as for the buyer; the list contains the information
extracted and provided in the form of a contract calendar which listed as every "seller
will or shall" and its due date (if known) down to the task level
Portfolio - ANSWERIncludes all programs and projects in an organization; may be for
organization as a whole or individual lines of business
Scope - ANSWERAll the work required to deliver the product or outcome of a project
Baseline - ANSWERThe original plan plus all approved changes (scope, schedule, cost)
Program - ANSWERA group of projects and subprojects that are interdependent for the
program's success, which happen in parellel, or in different stages, phases, or
sequences
Opportunity - ANSWERMeasure of the probability of a positive desired change
occurring and the desired impact of that event
Kraljic Matrix - ANSWERA tool for portfolio analysis: a four-box matrix that reflects the
segmentation of spend based on an assessment of the value of the spend relative to
the market risk to acquire
Spend analysis - ANSWERAnalysis of the historical spending patterns in an
organization, usually by commodity or category
Condition subsequent - ANSWERa phrase that suspends a term
Budget - ANSWERestimate of income and expenditure for a set period of time
Constraint - ANSWERThe state, quality, or sense of being restricted to a given course
of action or interaction
Condition precedent - ANSWERa phrase that activates a term
Term - ANSWERpart of the contract that addresses a specific subject
