ANSWERS GUARANTEE A+
✔✔when understanding the market they operate in, best practice companies with a
large product portfolio expect which of the following? - ✔✔their terms and conditions to
support successful sales agendas
✔✔If you are unlikely to be impacted by a contract and you have little importance
towards it then you are most likely to be categorized as which type of stakeholder? -
✔✔build awareness
✔✔stakeholders are likely to have the least focus on what aspects of the contract? -
✔✔the terms and conditions
✔✔when communicating with stakeholders about a contract what must you inform them
of? 2.) what needs to be done 3.) when it needs to be done 4.) the governance
framework for the contract - ✔✔2, 3 and 4
✔✔when you are substantially affected by a project, but you are not able to greatly
influence it, then you are what type of stakeholder? - ✔✔keep informed
✔✔who is the primary catalyst for obtaining the right contract and then managing the
delivery of the contract objectives? - ✔✔the contract and commercial management
professional
✔✔what are intangible evaluation criteria? - ✔✔factors that rely on organizational
culture and behavior
✔✔when conducting evaluation of proposals each team member should score what? -
✔✔the relevant section for their area of knowledge for each proposal
✔✔which is a critical success factor for a successful evaluation process? -
✔✔agreement on the evaluation model
✔✔which of the following are elements of total cost of ownership?: 1.) internal forces 2.)
opportunity costs 3.) tangential property - ✔✔1, 2 and 3
✔✔what is the name of the bid evaluation approach that requires a supplier to achieve a
satisfactory level on specific evaluation criteria? - ✔✔hurdle
✔✔bidders will ask questions about your request for proposal. which of the below is
best practice in responding to them - ✔✔maintain confidentiality buy not advising
bidders who asked what question
, ✔✔how should you handle the suppliers cost response to a proposal - ✔✔evaluate cost
responses separately to technical responses
✔✔in the bidding process, what process will help you to chose between suppliers, once
two or three suppliers have been short listed - ✔✔BAFO
✔✔What are you least likely to communicate to loosing suppliers once an RFP has
been awarded - ✔✔who the winning bidder is
✔✔what is one of the aims of the final round in the proposal process - ✔✔lowering the
cost of the suppliers proposal
✔✔in cost identifications, the allocation of cost to business units will normally
_________ - ✔✔represent an arbitrary decision
✔✔what can be the result of cost cutting decisions during the procurement process -
✔✔increase in risk and exposure to alternative costs
✔✔what is the best approach to eliminate assumptions supporting cost identification? -
✔✔research analysis and proactive management
✔✔what type of cost include communications and change management - ✔✔direct
✔✔which statement about opportunity costs is false - ✔✔excludes soft, less quantifiable
costs
✔✔ What is included in the contract? - ✔✔Anything that is referenced as part of the
contract.
✔✔Scope - ✔✔Which core contract element addresses what the contract is about?
✔✔When was the contract agreed? - ✔✔Which of the following is NOT one of the four
core elements of a contract?
✔✔1,3,4 - ✔✔Which of the following may be incorporated into the contract? 1.) bid
documents 3.) Letters, change orders and specifications. 4.) SOWs, SLAs, RFP,
procedures and prices
✔✔The bid, negotiation and implementation teams - ✔✔Who should be involved in the
formal contract hand over meeting?