A project manager is planning the procurement of a critical component that is available from multiple suppliers. The project has a tight schedule, and the organization wants to minimize risk. The project manager needs to develop a procurement strategy that balances speed and risk. What is the most appropriate approach?

Procure from the lowest-cost supplier without considering delivery time

Sole-source the component to the first available supplier

Delay the procurement until a full market analysis is completed

Use a competitive bidding process with a short bidding window to select the best supplier

During the Conduct Procurements process, which activity is performed to ensure that all prospective sellers have a clear and common understanding of the procurement requirements?

Performing a make-or-buy analysis

Developing the procurement statement of work

Creating the procurement management plan

A project manager is evaluating a vendor's performance at the end of a contract. The vendor has delivered all deliverables on time, but the quality of some deliverables was below the agreed standard. What should the project manager do?

Ignore the quality issues since the deliverables were on time

Terminate the contract immediately

Document the quality issues in the performance evaluation and discuss them with the vendor

Withhold final payment until all quality issues are resolved

Project Management Professional (PMP)

Domain 2Objective 5

Task 5 Plan and Manage Procurement PMP Practice Questions (Page 6)

Part of the Process domain, which accounts for 41% of the PMP exam. PMI does not publish an official question count, but from its 230-minute exam (~90–155 total, ~37–64 in this domain), expect 4–6 from this objective — we provide 38 practice questions to prepare you well beyond it. (estimate)

38questions here

8free pages

10concepts

41%of the exam

Questions 26–30

26expert · hard
A project manager is planning the procurement of a critical component that is available from multiple suppliers. The project has a tight schedule, and the organization wants to minimize risk. The project manager needs to develop a procurement strategy that balances speed and risk. What is the most appropriate approach?
Select an answer first
27foundation · easy
Which tool or technique is used to evaluate a vendor's performance against the contract's key performance indicators (KPIs)?
Select an answer first
28foundation · easy
During the Conduct Procurements process, which activity is performed to ensure that all prospective sellers have a clear and common understanding of the procurement requirements?
Select an answer first
29application · medium
A project manager is evaluating a vendor's performance at the end of a contract. The vendor has delivered all deliverables on time, but the quality of some deliverables was below the agreed standard. What should the project manager do?
Select an answer first
30application · medium
A project manager is procuring a custom software development service. The requirements are well-defined and the scope is not expected to change significantly. The organization wants to minimize cost risk to the buyer. Which contract type is most appropriate?
Select an answer first

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Task 5 Plan and Manage Procurement PMP Practice Questions (Page 6)

Questions 26–30

Which tool or technique is used to evaluate a vendor's performance against the contract's key performance indicators (KPIs)?

During the Conduct Procurements process, which activity is performed to ensure that all prospective sellers have a clear and common understanding of the procurement requirements?

A project manager is evaluating a vendor's performance at the end of a contract. The vendor has delivered all deliverables on time, but the quality of some deliverables was below the agreed standard. What should the project manager do?

A project manager is procuring a custom software development service. The requirements are well-defined and the scope is not expected to change significantly. The organization wants to minimize cost risk to the buyer. Which contract type is most appropriate?

Keep studying — Process