SMPS CPSM ACTUAL FINAL QUESTIONS AND
ANSWERS SET A+
✔✔Financial Statement - ✔✔Document that provides an overview of how money is
moving through a company. Typically includes a balance sheet and profit/loss or
revenue/expense statement.
✔✔Sole Source - ✔✔No-bid contract with a client meaning your firm will not have to
compete with others to win that client's projects
✔✔Zipper Relationship - ✔✔Creation of multiple connection points with a client
✔✔Go/No Go Process - ✔✔Structured decision-making process which guides firms and
business developers to determine whether or not to pursue a specific client of project in
a matter that is dispassionate and practical
✔✔Cold Call - ✔✔Phone call made to a prospect with whom the caller has no prior
relationship, connection point, or bridging relationship
✔✔Warm Call - ✔✔Phone call made to a prospect with whom the caller has some
degree of familiarity
✔✔Unique Value Proposition - ✔✔Short statement about a firm's area of expertise that
lets prospective clients know what they'll gain by hiring that firm over another
✔✔Social Selling - ✔✔Process of using social media channels to position yourself as an
expert
✔✔Pareto Principle - ✔✔80 percent of your work will come from 20 percent of your
prospects
,✔✔Stealth Marketing - ✔✔Subtle marketing techniques that direct marketing, BD, and
client maintenance activities to ensure that clients know the full range of a firm's
capabilities
✔✔Client/Account Manager - ✔✔Individual(s) assigned to clients with whom the firm
expects to have an extended relationship with responsibility for nurturing and
maintaining a particular relationship
✔✔Customer Relationship Management (CRM) - ✔✔A multi-faceted process, mediated
by a set of information technologies, that focuses on creating two-way exchanges with
customers so that firms have an intimate knowledge of their needs, wants, and buying
patterns.
✔✔Soft/By-Product Confirmation - ✔✔An informal measure of client satisfaction through
which basic information can be inferred from a client' response to general questions
such as "How is the project going?"
✔✔Net Promoter Score - ✔✔A simple measure of client satisfaction and loyalty that
asks the participant to answer the question "How likely are you to refer the firm to your
peers" using a 10-point scale.
✔✔Go/No-Go Process - ✔✔Thought process or checklist to analyze whether or not it is
worth expending manpower and financial resources to pursue a particular project.
✔✔Minority-Owned Business Enterprise (MBE) - ✔✔A firm that government agencies
recognize as being at least 51 percent owned and controlled by individuals of African-
American, Asian, Hispanic, or native American ethnicity
✔✔Women-Owned Business Enterprise (WBE) - ✔✔A firm that government agencies
recognize as being at least 51 percent owned and controlled by women
✔✔Small Disadvantaged Business Enterprise (SDBE) - ✔✔A firm that government
agencies recognize as having annual revenues below a designated level and are at
least 51 percent owned and controlled by members of a disadvantaged population.
✔✔Intelligence - ✔✔The ultimate goal of business development is to provide the firm
with _____________ needed to be successful in pursuit of a targeted client.
✔✔Core Service Line Colleagues - ✔✔Companies that provide services similar to your
firm, and may be competitor
✔✔10 - ✔✔It costs ____ times as must to get a new client as it does to retain a current
one.
, ✔✔5 - ✔✔Keep phone calls under ____ minutes to avoid the perception of holding a
meeting over the phone
✔✔Relationship life cycle - ✔✔The cycle of acquisition, retention, and renewal
✔✔Request for Qualifications (RFQ) - ✔✔A procurement tool routinely used to narrow
interested partners for further consideration or pre-qualify firms for a specific task or
project.
✔✔Request for Information (RFI) - ✔✔Request generally coming from a team member
requiring additional information or clarification from a party
✔✔Request for Proposal (RFP) - ✔✔Document used in procurement procedures
through which a purchaser advises potential suppliers of goods/services to be procured,
technical goals, scope of work, specifications, schedules, evaluation criteria, contract
type, terms and conditions, contractual requirements, data requirements, and
instructions for preparation of proposals
✔✔Statement of Qualifications (SOQ) - ✔✔Document prepared as a more general
response for a client, soliciting qualified firms for a specific area of practice or project.
✔✔Short List - ✔✔List of firms generated once responses to an RFQ/P have been
submitted and reviewed. These firms are given the opportunity to continue through the
procurement process.
✔✔Compliance Matrix - ✔✔Tool used to ensure that a proposal complies with all
requirements detailed in an RFP
✔✔Work Plan - ✔✔A written plan that defines action, which typically includes tactics,
timetable, individuals responsible, and results accomplished.
✔✔Long Lead Items - ✔✔Activities on a schedule that typically require a longer time to
acquire or complete and therefore need to be started earlier than other items.
✔✔Proposal - ✔✔Document prepared in response to a specific solicitation where
generally the project is identified and a scope of work is available.
✔✔Standard Form 330 - ✔✔Standard form used by Federal agencies in the
procurement of architecture and engineering services
✔✔Standard Form 255/254 - ✔✔Older version of the standard form that is still used by
some non-Federal agencies
ANSWERS SET A+
✔✔Financial Statement - ✔✔Document that provides an overview of how money is
moving through a company. Typically includes a balance sheet and profit/loss or
revenue/expense statement.
✔✔Sole Source - ✔✔No-bid contract with a client meaning your firm will not have to
compete with others to win that client's projects
✔✔Zipper Relationship - ✔✔Creation of multiple connection points with a client
✔✔Go/No Go Process - ✔✔Structured decision-making process which guides firms and
business developers to determine whether or not to pursue a specific client of project in
a matter that is dispassionate and practical
✔✔Cold Call - ✔✔Phone call made to a prospect with whom the caller has no prior
relationship, connection point, or bridging relationship
✔✔Warm Call - ✔✔Phone call made to a prospect with whom the caller has some
degree of familiarity
✔✔Unique Value Proposition - ✔✔Short statement about a firm's area of expertise that
lets prospective clients know what they'll gain by hiring that firm over another
✔✔Social Selling - ✔✔Process of using social media channels to position yourself as an
expert
✔✔Pareto Principle - ✔✔80 percent of your work will come from 20 percent of your
prospects
,✔✔Stealth Marketing - ✔✔Subtle marketing techniques that direct marketing, BD, and
client maintenance activities to ensure that clients know the full range of a firm's
capabilities
✔✔Client/Account Manager - ✔✔Individual(s) assigned to clients with whom the firm
expects to have an extended relationship with responsibility for nurturing and
maintaining a particular relationship
✔✔Customer Relationship Management (CRM) - ✔✔A multi-faceted process, mediated
by a set of information technologies, that focuses on creating two-way exchanges with
customers so that firms have an intimate knowledge of their needs, wants, and buying
patterns.
✔✔Soft/By-Product Confirmation - ✔✔An informal measure of client satisfaction through
which basic information can be inferred from a client' response to general questions
such as "How is the project going?"
✔✔Net Promoter Score - ✔✔A simple measure of client satisfaction and loyalty that
asks the participant to answer the question "How likely are you to refer the firm to your
peers" using a 10-point scale.
✔✔Go/No-Go Process - ✔✔Thought process or checklist to analyze whether or not it is
worth expending manpower and financial resources to pursue a particular project.
✔✔Minority-Owned Business Enterprise (MBE) - ✔✔A firm that government agencies
recognize as being at least 51 percent owned and controlled by individuals of African-
American, Asian, Hispanic, or native American ethnicity
✔✔Women-Owned Business Enterprise (WBE) - ✔✔A firm that government agencies
recognize as being at least 51 percent owned and controlled by women
✔✔Small Disadvantaged Business Enterprise (SDBE) - ✔✔A firm that government
agencies recognize as having annual revenues below a designated level and are at
least 51 percent owned and controlled by members of a disadvantaged population.
✔✔Intelligence - ✔✔The ultimate goal of business development is to provide the firm
with _____________ needed to be successful in pursuit of a targeted client.
✔✔Core Service Line Colleagues - ✔✔Companies that provide services similar to your
firm, and may be competitor
✔✔10 - ✔✔It costs ____ times as must to get a new client as it does to retain a current
one.
, ✔✔5 - ✔✔Keep phone calls under ____ minutes to avoid the perception of holding a
meeting over the phone
✔✔Relationship life cycle - ✔✔The cycle of acquisition, retention, and renewal
✔✔Request for Qualifications (RFQ) - ✔✔A procurement tool routinely used to narrow
interested partners for further consideration or pre-qualify firms for a specific task or
project.
✔✔Request for Information (RFI) - ✔✔Request generally coming from a team member
requiring additional information or clarification from a party
✔✔Request for Proposal (RFP) - ✔✔Document used in procurement procedures
through which a purchaser advises potential suppliers of goods/services to be procured,
technical goals, scope of work, specifications, schedules, evaluation criteria, contract
type, terms and conditions, contractual requirements, data requirements, and
instructions for preparation of proposals
✔✔Statement of Qualifications (SOQ) - ✔✔Document prepared as a more general
response for a client, soliciting qualified firms for a specific area of practice or project.
✔✔Short List - ✔✔List of firms generated once responses to an RFQ/P have been
submitted and reviewed. These firms are given the opportunity to continue through the
procurement process.
✔✔Compliance Matrix - ✔✔Tool used to ensure that a proposal complies with all
requirements detailed in an RFP
✔✔Work Plan - ✔✔A written plan that defines action, which typically includes tactics,
timetable, individuals responsible, and results accomplished.
✔✔Long Lead Items - ✔✔Activities on a schedule that typically require a longer time to
acquire or complete and therefore need to be started earlier than other items.
✔✔Proposal - ✔✔Document prepared in response to a specific solicitation where
generally the project is identified and a scope of work is available.
✔✔Standard Form 330 - ✔✔Standard form used by Federal agencies in the
procurement of architecture and engineering services
✔✔Standard Form 255/254 - ✔✔Older version of the standard form that is still used by
some non-Federal agencies
