CTCM Exam: Contract Management Questions With Complete Solutions

Steps in Contract Management Framework correct answer: Plan; Procurement; Contract Formation/Rate/Price Establishment; Contract Oversight Contract Administrator(CA) vs. Contract Manager(CM) correct answer: Not the same but very similiar CA - responsible for post award CM - is responsible for all functions of contract mgmt. What are "resources" a contract mgmt plan should have? correct answer: Executives, CM, CA Procurement Process correct answer: Need defined: End User: CM and Purchaser Procurement Method Selected: Purchaser Solicitation: Purchaser/CM Receipt of Proposals /Bids: Purchaser/CM/Eval Team Evaluation & Award: Purchaser/General Counsel Inspection and Acceptance: End User: CM Contract Admin End User: CM/CA Payment: AP/CM/CA Contract Closeout: End User: CM/CA State of Texas Procurement Cycle correct answer: 1. Need defined 2.Procurement Method Selected 3. Solicitation 4. Receipt of Proposals/Bids 5. Evaluation and Award 6. Inspection and Acceptance 7. Contract Admin (Change Mgmt) 8. Payment 9. Contract Closeout 3 "O"'s Approach to Contract Mgmt correct answer: Outline, Operate, Oversee Operate correct answer: Procurement/Contract Formation:Rate/Price Established: Purchaser/CM/ Legal Oversee correct answer: Contract Oversight: End User: CA/CM Outline correct answer: Plan: Purchaser/SME/End User/ Internal,external stakeholders Ethical Standards of Conduct - EEs should not do correct answer: 1. Accept or solicit any gift, favor or service that might influence 2. Accept employment or engage in a business or pro activity where ee might disclose confidential info 3. Accept other employment or compensation that could impair