An input of the Plan Procurement Management process is:
Answer(s): B
7.2.3.1 Activity Cost EstimatesActivity cost estimates are quantitative assessments of the probable costs required to complete project work. Cost estimates can be presented in summary form or in detail. Costs are estimated for all resources that are applied to the activity cost estimate. This includes, but is not limited to, direct labor, materials, equipment, services, facilities, information technology, and special categories such as cost of financing (including interest charges), an inflation allowance, exchange rates, or a cost contingency reserve. Indirect costs, if they are included in the project estimate, can be included at the activity level or at higher levels.Process: 12.1 Plan Procurement ManagementDefinition: The process of documenting project procurement decisions, specifying the approach, and identifying potential sellers.Key Benefit: The key benefit of this process is that it determines whether to acquire outside support, and if so, what to acquire, how to acquire it, how much is needed, and when to acquire it.Inputs1. Project management plan2. Requirements documentation3. Risk register4. Activity resource requirements5. Project schedule6. Activity cost estimates7. Stakeholder register8. Enterprise environmental factors 9. Organizational process assetsTools & Techniques1. Make-or-buy analysis2. Expert judgment3. Market research4. MeetingsOutputs1. Procurement management plan2. Procurement statement of work3. Procurement documents4. Source selection criteria5. Make-or-buy decisions6. Change requests7. Project documents updates
Outputs of the Control Communications process include:
Which organizational process assets update is performed during the Close Procurements process?
12.4.3.2 Organizational Process Assets UpdatesElements of the organizational process assets that may be updated include, but are not limited to:Procurement file. A complete set of indexed contract documentation, including the closed contract, is prepared for inclusion with the final project fles.Deliverable acceptance. Documentation of formal acceptance of seller-provided deliverables may be required to be retained by the organization. The Close Procurement process ensures this documentation requirement is satisfed. Requirements for formal deliverable acceptance and how to address nonconforming deliverables are usually defined in the agreement.Lessons learned documentation. Lessons learned, what has been experienced, and process improvement recommendations, should be developed for the project fle to improve future procurements. 12.4 Close ProcurementsThe process of completing each project procurement.Key Benefit: The key benefit of this process is that it documents agreements and related documentation for future reference.Inputs1. Project management plan2. Procurement documentsTools & Techniques1. Procurement audits2. Procurement negotiations3. Records management systemOutputs1. Closed procurements2. Organizational process assets updates
The individual or group that provides resources and support for a project and is accountable for success is the:
Answer(s): A
A measure of cost performance that is required to be achieved with the remaining resources in order to meet a specified management goal and is expressed as the ratio of the cost needed for finishing the outstanding work to the remaining budget is known as the:
Answer(s): C
TCPI = (BAC – EV)/(BAC – AC)
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