CONTRACT MANAGEMENT EXAM
QUESTIONS & ACCURATE PASSED
ANSWERS 100%
Contract Management - Correct Answer ✔✔ The entire contracting process from
planning through contract administration.
4 steps of the Contract Management Framework - Correct Answer ✔✔ 1. Plan
2. Procurement
3. Contract Formation/Rate/Price Establishment
4. Contract Oversight
4 steps of the Contract Management Framework: 1. Plan - Correct Answer ✔✔ Identify
contracting objectives and strategy.
4 steps of the Contract Management Framework: 2. Procurement - Correct Answer ✔✔
Fairly and objectively select the most qualified contractors.
4 steps of the Contract Management Framework: 3. Contract Formation/Rate/Price
Establishment - Correct Answer ✔✔ Ensure the contract contains provisions that hold
the contractor accountable for producing desired results, include all relevant terms and
conditions as well as establish processes that are cost-effective and aligned with the
cost of providing the goods and services.
4 steps of the Contract Management Framework: 4. Contract Oversight - Correct
Answer ✔✔ Monitor and enforce the terms of the contract.
Three O's Approach to Contract management - Correct Answer ✔✔ 1. Outline
2. Operate
3. Oversee
Outline - Correct Answer ✔✔ • Identify need
• Develop CM team
• Conduct risk assessment
• Determine procurement method
Operate - Correct Answer ✔✔ • Prepare solicitation
• Copies to CAT/CPA
• Solicit proposals
• Evaluation responses
• Award
, Oversee - Correct Answer ✔✔ • Execute contract
• Monitor performance
• Manage change
• Approve payment
• contract closeout
Contract Manager Role - Correct Answer ✔✔ Oversees and manages the entire
contracting/procurement process:
-Participates in developing the solicitation and writing the draft documents.
-Point of contact for disseminating the instructions regarding the work to the contractor.
-Receive and respond to communications between the agency and the contractor.
-Monitor the contractor's progress and performance to ensure goods and services
conform to contract requirements.
-Inspect and approve the final product/services thru formal acceptance/receipt process.
-Perform contract closeout process.
Contract Administrator Role - Correct Answer ✔✔ Oversees the contract administration
functions (post award):
-Monitors vendor performance
-Approves payments
-Manages contract changes
3 "Resources" a contract management plan should include - Correct Answer ✔✔ 1.
Contract Manager
2. Purchaser
3. Program Staff
Non-disclosure Statement - Correct Answer ✔✔ -Agreement not to disclose or
otherwise divulge information related to the solicitation.
-Required of all evaluators prior to reviewing vendor proposals.
-Should be obtained from anyone wishing to see proposal responses.
Conflict of Interest Statement - Correct Answer ✔✔ Employees complete when involved
in specification development or award determinations. Included in annual procurement
plan.
Steps in Risk Management - Correct Answer ✔✔ 1. Identify Risk
2. Quantify Risk using Risk Assessment Tool
3. Minimize Risk (Limit, lesson or abolishing the risk) by completing a Risk Mitigation
Plan
Risk Assessment includes - Correct Answer ✔✔ -Identify and anticipate risks
-Mitigate or manage risks
-Protect the agency
Ways of Minimizing Risk - Correct Answer ✔✔ • Avoid
QUESTIONS & ACCURATE PASSED
ANSWERS 100%
Contract Management - Correct Answer ✔✔ The entire contracting process from
planning through contract administration.
4 steps of the Contract Management Framework - Correct Answer ✔✔ 1. Plan
2. Procurement
3. Contract Formation/Rate/Price Establishment
4. Contract Oversight
4 steps of the Contract Management Framework: 1. Plan - Correct Answer ✔✔ Identify
contracting objectives and strategy.
4 steps of the Contract Management Framework: 2. Procurement - Correct Answer ✔✔
Fairly and objectively select the most qualified contractors.
4 steps of the Contract Management Framework: 3. Contract Formation/Rate/Price
Establishment - Correct Answer ✔✔ Ensure the contract contains provisions that hold
the contractor accountable for producing desired results, include all relevant terms and
conditions as well as establish processes that are cost-effective and aligned with the
cost of providing the goods and services.
4 steps of the Contract Management Framework: 4. Contract Oversight - Correct
Answer ✔✔ Monitor and enforce the terms of the contract.
Three O's Approach to Contract management - Correct Answer ✔✔ 1. Outline
2. Operate
3. Oversee
Outline - Correct Answer ✔✔ • Identify need
• Develop CM team
• Conduct risk assessment
• Determine procurement method
Operate - Correct Answer ✔✔ • Prepare solicitation
• Copies to CAT/CPA
• Solicit proposals
• Evaluation responses
• Award
, Oversee - Correct Answer ✔✔ • Execute contract
• Monitor performance
• Manage change
• Approve payment
• contract closeout
Contract Manager Role - Correct Answer ✔✔ Oversees and manages the entire
contracting/procurement process:
-Participates in developing the solicitation and writing the draft documents.
-Point of contact for disseminating the instructions regarding the work to the contractor.
-Receive and respond to communications between the agency and the contractor.
-Monitor the contractor's progress and performance to ensure goods and services
conform to contract requirements.
-Inspect and approve the final product/services thru formal acceptance/receipt process.
-Perform contract closeout process.
Contract Administrator Role - Correct Answer ✔✔ Oversees the contract administration
functions (post award):
-Monitors vendor performance
-Approves payments
-Manages contract changes
3 "Resources" a contract management plan should include - Correct Answer ✔✔ 1.
Contract Manager
2. Purchaser
3. Program Staff
Non-disclosure Statement - Correct Answer ✔✔ -Agreement not to disclose or
otherwise divulge information related to the solicitation.
-Required of all evaluators prior to reviewing vendor proposals.
-Should be obtained from anyone wishing to see proposal responses.
Conflict of Interest Statement - Correct Answer ✔✔ Employees complete when involved
in specification development or award determinations. Included in annual procurement
plan.
Steps in Risk Management - Correct Answer ✔✔ 1. Identify Risk
2. Quantify Risk using Risk Assessment Tool
3. Minimize Risk (Limit, lesson or abolishing the risk) by completing a Risk Mitigation
Plan
Risk Assessment includes - Correct Answer ✔✔ -Identify and anticipate risks
-Mitigate or manage risks
-Protect the agency
Ways of Minimizing Risk - Correct Answer ✔✔ • Avoid
