CTCM EXAM Questions & Answers

CTCM EXAM Questions & Answers contract value Initial Value of the contract, plus any amendments, renewals and extensions for the contract's full existence A contract with an initial value of $4 million, with 3 optional annual renewals of the same amount. What is the contract value? 4 + (4+4+4 renewals) = 16 million What is SPD? State Procurement Division - Delegates purchasing authority to state agencies for non IT goods & services What is Purchasing authority? The ability of an agency to purchase goods & services using state funds What is Delegation of Purchasing Authority? Assigning purchasing authority to an agency Statewide Contract Development Team does what? Develop & administer over 250 statewide contracts Statewide Contract Development Team develops Term, managed, and TXMAS contracts Statewide Contract Development Team processes Open Market Requisitions on behalf of the state Which contracts do Statewide Contract Development team assist with? Term, Managed, and TXMAS Statewide contract management team assists with day to day