PROJ598 Week 8 Final Exam

PROJ598 Week 8 Final Exam

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  1. (TCO H) What is the maximum value of a verbal contract? (Points : 5)

$100
$200
$300
400
500

  1. (TCO F) Which is not part of the award phase of the contract management process? (Points : 5)

Source selection
Contract negotiation
Contract formation
Contract administration
All of the above

  1. (TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities. (Points : 16)
  2. TCO A) Describe three techniques that build trust and a lasting partnership. Give an example for each technique and how it would impact an organization. (Points : 18)
  3. (TCO B) Describe the seller’s pre-award stage of the contract management process. Give an example of the activity that takes place in each step. (Points : 16)
  4. ((TCO E) Describe and explain some of the tools and techniques that should be used in source selection. For example, is negotiation the only effective tool for source selection or are there others?
    a .Contract negotiation, weighing systems, screening systems, and independent estimates are all manners to select appropriate sources. Regardless of the source required, there should be a process to screen suppliers in a way to empirically select a source. This reduces personal bias and other factors from the process. Page 146 (Points : 16)

Page 2
1. (TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and with time and material agreements. Offer your opinion on which type of contract would best suit your organizational needs if you had to only select one type of agreement for all your suppliers and sub-contractors. (Points : 16)

  1. (TCO F) What is source selection, and why is it important? (Points : 16)
  2. TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe the reality of actual global contracts. (Points : 16)
  3. (TCO H) One of the tools and techniques used in contract closeout or termination is compliance verification, briefly describe this tool. (Points : 16)
  4. (TCO A) State and elaborate five actions to improve your use of contract incentives. (Points : 20)
  5. (TCO C) Describe qualitative vs. quantitative evaluation criteria. (Points : 20)

Page 3

  1. (TCO D) Performance-based contracts (PBC) contain five essential elements. (Points : 20)
  2. (TCO E) It has been said that the side that does the most research and planning will often come out best in any negotiation? Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information (Points : 20)
  3. 3. (TCO F) What is an indefinite delivery indefinite quantity (IDIQ)? (Points : 20)
  4. 4. TCO G) Describe and compare and contrast the buyer’s and seller’s post-award phase of the contract management process. Give an example for each step in the process for the buyer and for the seller. (Points : 20)
  5. 5. (TCO H) Describe and explain the awakening phase in the evolution of a project management organization. Explain and defend why this phase is the most important of the process. Use examples to support your ideas.(Points : 20)
  6. 6. (TCO B) What are the unique differences between cost plus incentive fee contracts and fixed price incentive contracts?(Points : 20)
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PROJ598 Week 7 Negotiation Excercise

PROJ598 Week 7 Negotiation Excercise

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This project is an exercise discussing the uniform commercial code, for which i have provided an example

PROJ598 Week 5 The Award Phase – You Decide

PROJ598 Week 5 The Award Phase – You Decide

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Scenario Summary

You are Chris and Pat Smith, entrepreneurs with five years of experience investing in small businesses. Eighteen months ago you decided to invest in a catering venture with two chefs, J. P. Martin and L. L. Miller, who have culinary science degrees and five years of work experience, which includes winning a prestigious prize in a gourmet food competition. Following some extended discussions, the four of you decided to set up a business catering to parties and weddings under the name of At Your Service.

The arrangement between you was quite informal. Essentially you put up $25,000 and the chefs put up $10,000 in capital to get the operation started. You were to manage the advertising, and the bookkeeping. The chefs’ contribution was to set up the kitchen and menus, cook, hire staff, and be on site to supervise all catering jobs. The agreement between you was that the profits would be split 50-50 after clearing fixed expenses.

Although the first few months were difficult and At Your Service had to use some of the investment reserves to cover monthly expenses, a good newspaper review produced a spurt of business in the third month when the company not only covered fixed costs, but distributed a profit of $250 to each owner. Throughout the first year, you continued to make a little money, or lose a little every month, but the company has been steadily losing money in the second year and has had to use reserves in order to keep in business.

You think the problem is that the chefs do not know how to manage a business. As soon as the business seemed to be breaking even last year, you noticed that they changed menus, offering more elaborate dishes with more expensive ingredients without increasing prices. These dishes cost too much and take too much time to prepare, limiting their availability to take on more jobs.

The lack of profits forced you to take a more active role in the management of the company. Although you told the chefs to raise prices, they approved the new seasonal menus with the same elaborate dishes and the same low prices. You found out before the menus were printed and raised the prices by 10%. You have also put them on a strict ingredients budget.

Of course, all of this has not pleased them, but the $35,000 investment is rapidly disappearing. You are down to $15,000 in working capital, and you and your partner have no more money to put into the business. You are quite sure that Martin and Miller have no more money either.

Last week, you all briefly discussed dissolving the business. You are very interested in doing so; you find it hard to believe you had such bad business judgment to form a partnership with two chefs. It is possible that with higher prices and more discipline on their part profitability will improve, although you doubt that your relationship will. Alternatively, profitability may not improve and you will have to use the last of the reserves to terminate the leases on the space, the van, and the kitchen equipment.

The issues that have to be resolved are as follows:

How you will split the $15,000 left in the investment. How to handle the lease on the kitchen space, which has 18 months more to run. How to handle the lease on the van, which has 18 months more to run. How to handle the lease on the kitchen equipment, which as six months more to run.

There are a variety of options for distributing the remaining capital. You take the remaining capital giving the chefs nothing; you take $12,000 leaving $3,000 for the chefs; you take $10,000 and they take $5,000; you split the capital evenly; you take $5,000 and they take $10,000, you take $3,000 and they take $12,000; you leave all the remaining capital for them. You need to recoup as much as your investment possible to open an alternative venture. You recently began to look at the possibility of opening a flower shop, although you have not yet done extensive planning for it. To do so you need capital. You also do not think that the chefs deserve the capital because they caused the business to fail.

You also need to rent space for this new venture, and you were thinking that you might take over the lease on the store front space that you rented for the catering business. The only problem is the kitchen, which you really do not need and don’t want to have to pay a premium price for. Your options are to promise the chefs that you will make the storefront lease payments; to have the lease amended to be in your names only (which would cost about $500); terminate the lease and pay the $1,000 penalty; have the lease amended to remove your names (same $500 cost); accept the chefs’ promise to pay the lease. All in all, you think it is better to leave the lease alone and just promise the chefs that you pay it rather than pay the fee for changing the names on the lease, terminating it, or paying the fee to assign it to them. You are concerned that if they took over the lease and then later could not make payments, you would still be responsible.

You could certainly use the van leased for the catering service for flower deliveries. Your options for the van are similar to those for the storefront space. You could promise the chefs that you will make the van payments, have the van lease amended to be in your names only (which would cost about $500); terminate the lease and pay the $1,000 penalty, have the lease amended to remove your names (same $500 cost); accept the chefs’ promise to pay the van lease. You are concerned that if the chefs took over the lease and then later could not make the payments you would be liable. Your first preference is to promise the chefs that you will make the payments. If necessary, you are willing to make the $500 payment to take their names off the lease. You have the same concern about the van lease as you do with the storefront lease, if you turn it over to the chefs before the end of the term of the lease, you will still be responsible for payments they do not make. Your preference is to take the van’s lease over yourselves.

You have no use for the high quality cooking equipment that was leased for the catering business. You have a similar set of options for the kitchen equipment as you have for the storefront and van. You assume the chefs will continue in the cooking business and can use the equipment. It would be all right with you if they took over the lease. You understand there is no charge to remove your names from the lease agreement. However, you think the best all-around solution is to terminate the lease for the kitchen equipment.

Your Role/Assignment

You are to meet with the chefs for 30 minutes to try to dissolve the partnership. The table on the next page summarizes your preferences on the options for each issue in terms of points. Your goal is to negotiate an agreement worth as many points as possible. To reach an agreement with the chefs, you must gain at least 100 points.

Issue

Option

Value to the Entrepreneurs

Type

$15,000 the entrepreneurs $ 0 the chefs

85

$12,000 the entrepreneurs $ 3,000 the chefs

75

$10,000 the entrepreneurs $ 5,000 the chefs

45

$ 7,500 the entrepreneurs $ 7,500 the chefs

20

$ 5,000 the entrepreneurs $10,000 the chefs

15

$ 3,000 the entrepreneurs $12,000 the chefs

10

$ 0 the entrepreneurs $15,000 the chefs

5

Space

The chefs promise to pay lease

15

The chefs take over lease

20

Terminate lease

25

The entrepreneurs take over lease

55

The entrepreneurs promise to pay lease

65

Van

The chefs promise to pay lease

15

The chefs take over lease

20

Terminate lease

25

The entrepreneurs take over lease

65

The entrepreneurs promise to pay lease

75

Equipment

The chefs promise to pay lease

10

The chefs take over lease

15

Terminate lease

25

The entrepreneurs take over lease

10

The entrepreneurs promise to pay lease

5

K E Y P L A Y E R S

Pat, the owner

We strongly believe and insist on taking the remaining capital. Both Miller and L.L Martin are completely responsible for the failure of the business. We insist that the chefs get nothing and must be held fully accountable.

Martin, chef

I have been a chef for many years. I know how to create menus that are attractive and make customers keep coming. However, because you both invested in this business and are inpatient in developing and building a long lasting business, I put the burden of failure on both of you. Indeed, I think that both of you ought to get nothing and should never engage in a restaurant business.

Miller, chef

Hi Martin, I completely agree with you that both Chris & Pat are incompetent businessmen, but we have to be fair. I propose that they transfer the business to us and in return we give them $5,000 each.

Y O U D E C I D E

Activity
Deliverable: Three-to-five page paper outlining your response to the above questions.

Submit your paper to the Dropbox located on the silver tab at the top of this page. For instructions on how to use theDropbox, please click here.

See Syllabus/”Due Dates for Assignments & Exams” for due date information.

PROJ598 Week 3 Quiz

PROJ598 Week 3 Quiz

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1.

Question :

(TCO A) What are the four common actions that winning organizations are taking to build successful partnerships?

Unleashing corporate buying & selling power; changing buying & selling processes; developing an integrated supply chain; learning and applying the best practices & e-tools from industry leaders

Unleashing corporate buying & selling power; developing new buying & selling processes; communication; e-commerce

Communication; improved pricing; unleashing corporate buying & selling power; applying best practices

Communication; e-commerce; applying best practices; developing new buying & selling processes

None of the above

2.

Question :

(TCO A) Which of the following common actions used by winning companies to build successful partnerships would involve strategic sourcing agreements, back-sourcing arrangements, joint-equity partnerships, preferred supplier agreements, and customer agreements?

Changing buying and selling processes

Developing an integrated supply chain

Unleashing corporate buying and selling power

Learning and applying the best practices and e-tools from industry leaders

None of the above

3.

Question :

(TCO B) What are some of the best practices for building trust?

Listening to the customer

Be accessible

Develop a risk management plan

Document and share best practices

All of the above

4.

Question :

(TCO A) Describe and explain the six steps in the contract management process for the buyer. Make sure to define each of the three phases of the process.

PROJ598 Contract and Procurement Management: Course Project

PROJ598 Contract and Procurement Management: Course Project

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Course Project

Course Project Overview | Part I (PP1) | Part II (PP2) | Part III (PP3)

Course Project Overview

The course project for PM598 consists of three parts, which provide familiarization to processes associated with contract and procurement management.

Part 1 (PP1) of the Course Project focuses on the first section of the RFP and entails selecting one of the three RFP procurement cases listed under the PP1 section and using the PP1&2 – Course Project RFP template document in the Doc Sharing area to develop information to support section one of the RFP. Part 1 (PP2) of the Course Project entails completing the remaining sections of the RFP by developing a comprehensive document that could be submitted to a vendor. Part 3 (PP3) covers all of the TCOs but touches mainly upon textbook Chapters 9 through 12. You will be required to identify an opportunity throughhttps://www.Fbo.govand follow the instructions, which are located in the Doc Sharing section.

This three-part project provides an overview of the processes and material that are used to develop a RFP as well as address relevant questions that could result from contract and procurement management. The points assigned to each part of the Course Project are listed below:

Course Project Assignment

Due

Points

Part I (PP1) – RFP Section 1

Week 2

40

Part II (PP2) – Complete RFP

Week 4

125

Part III (PP3) – Formal Proposal Submission

Week 6

125

Total

290

Part I (PP1)

Assignment: Select one of the three RFP procurement cases listed below (A New Practice Field, An Environment Impact Study, and an Inventory Control System) for your Course Project. Use the RFP template located in the Doc Sharing area to complete the cover page and the following sections of the RFP (1.1, 1.2, 1.3, and 1.4).

Resources: Obviously, Chapters 1 through 6 of the text would serve as a starting point. Please be advised that considerable relevant material is also available on the Internet, so you might want to conduct a search for some materials that may yield insights into the RFP development process. Download and use the RFP template from the Doc Sharing area.

Procedures and Deadline: All project issues should be directed in the Q & A Forum or addressed in class. The PP1 RFP should be prepared in a MS Word format suitable for electronic transmission. Any resources used beyond the textbook need to be cited in your document, including links to relevant websites. Be sure to include footnotes and bibliography.

Submission Details: All PP1 documents must be submitted no later than the end of Week 2. There will be a penalty for late submissions. Submit a soft copy of your RFP in the Dropbox created for this purpose.

Clarification on Assignment: All questions of a clarification nature should be asked in the weekly Q & A Forum discussion topic.

Grading: Eighty percent of points will be for content (including proper use of the English language) and 20percent of points will be based following the instructions for the assignment.

RFP Content:

Your RFP should utilize the best practices of the Pre-award Phase that apply to your project. You must choose the type of contract that you feel is most appropriate for this procurement. I will set the length limit at three double-spaced pages (12-point font) for the main body of the RFP (sections 1.1 – 1.4). (Please do not feel obligated to reach that limit.) All other section content should be noted as to-be-determined (tbd).

The first page of your overall submission must be a cover sheet that contains the project title (hopefully, not “PP1” or anything like that—be inventive), your name, your e-mail address, and course identifying information (e.g., “PM598 for this term” will suffice—obviously, use the correct term identifier). The second page will be a Table of Contents (TOC) listing the major RFP sections together with page numbers. Include on this page a listing of the references that you used in the RFP preparation, including websites, if any. The next one-to-three pages constitutes the main body of the RFP. Appendix B contains a list of suppliers to whom you would send the RFP. These must be real bona fide contractors—not hypothetical ones. On that page, say how you chose these potential suppliers. The cover sheet, TOC/references page, and supplier list do not count toward the three-page limitation.

RFP Procurement Cases

Select one of the following RFP procurement cases to develop your PP1 RFP:

A New Practice Field
You own a semipro baseball team (in the location of your choice) and you want to construct a new practice field. You own the land already (20 acres). The land is relatively flat and it has only a few dilapidated structures (barns) and trees on it. Connecting up with existing water and sewer lines would present no unusual technical problems. It is now September, and you would love to have that field ready to go by March two years hence. Your vision would include the playing field, a small clubhouse, and a parking area that would hold about 50 cars. No spectator seating would be required. The decision to go with one general contractor has already been made.

An Environmental Impact Study
You are a general contractor wishing to put up a modest sized cement production plant on the outskirts of town. The plant would operate on only one 10-hour shift per day and would produce about 400 cubic yards of output per day for six days per week. It is necessary for an environmental impact study to be undertaken before the county can issue a permit. The biggest issue is, of course, the air quality implications of cement production, but potential impacts on water quality are of concern as well. It is now October, and you want to start building the plant by the end of next summer, if at all possible. It is now time to issue an RFP to procure an environmental impact analysis. Studies of this type normally require about three months of concerted effort by a team of analysts.

An Inventory Control System
You sell seeds from a catalog, and business has been blossoming. However, your inventory tracking system is inadequate. In high season, supply outages have been frequent, and customer complaints over delays have been increasing. You fear that your business will die on the vine unless something is done to improve things. You want to hire a management consultant to design a new inventory tracking system. This kind of work normally requires about six months worth of effort. It is now May. You need to issue an RFP for this work. The procurement will be for the design stage only—implementation may or may not be handled under a separate contract at a later date.

Deadline: PP1 is due by the end of Week 2.

Submit your PP1 assignment to the Week 2 Dropbox.

Scoring

Cover Page & Table of Content

3

RFP Section 1.1

8

RFP Section 1.2

8

RFP Section 1.3

8

RFP Section 1.4

8

Document Organization

5

Total Points

40

Part II (PP2)

Assignment: Project Part 2 (PP2) entails completing the remaining sections of the Request for Proposal (RFP) that was selected and prepared for Project Part 1 (PP1).

Background: The project directly addresses TCO E and covers material in Chapters 1 through 8 of the text. These chapters develop the procurement process up to the point of issuing the RFP. The remaining chapters of the book consider procurement activities undertaken subsequent to this milestone RFP event. Part 3 (PP3) will deal with material from a wider range of the Garrett text.

Terminal Course Objectives (TCOs): The following TCOs are addressed in the PP2 assignment:

TCO A: Given a project situation, discuss and document the six phases of the procurement cycle and the impact each procurement has on the overall project.

TCO B: Given a project situation, analyze the factors that are important when qualifying and selecting suppliers for a project requirement.

TCO C: Given a project situation for a major contract, examine the key factors, including risk factors, that affect buyer and supplier decisions concerning contract pricing and the selection of the proper contract type.

TCO D: Given a procurement situation for a major contract, analyze the application of e-procurement and other types of supplier bidding models available.

TCO E: Given a situation to solicit a bid proposal, evaluate technical, management, commercial, and ethical requirements, and then prepare a Request for Proposal (RFP).

Resources: Obviously, Chapters 1 through 8 of the text would serve as a starting point. Please be advised that considerable relevant material is also available on the Internet, so you might want to conduct a search for materials that may yield insights into the RFP development process. Use the RFP template from your PP1 assignment, which was downloaded from the Doc Sharing area.

Procedures and Deadline: All project issues should be directed in the Q & A Forum or addressed in class. The PP2 RFP should be prepared in a MS Word format suitable for electronic transmission. Any resources used beyond the textbook need to be cited in your document—including links to relevant websites. Be sure to include footnotes and bibliography.

Submission Details: All PP2 documents must be submitted no later than the end of Week 4. Submit a copy of your RFP in the Dropbox created for this purpose.

Clarification on Assignment: All questions of a clarification nature should be asked in the weekly Q & A Forum discussion topic.

Grading: Eighty percent of points will be for content (including proper use of the English language) and 20 percent of the points will be based following the instructions for the assignment.

RFP Content:

Your RFP should utilize the best practices of the pre-award phase that apply to your project. You must choose the type of contract that you feel is most appropriate for this procurement. I will set the length limit at 10 double-spaced pages (12-point font) for the main body of the RFP. (Please do not feel obligated to reach that limit.) You may attach additional appendices if you wish, but these must be limited to clarifying material that has been borrowed from elsewhere or developed as an exhibit.

The first page of your overall submission must be a cover sheet that contains the project title (hopefully, not “PP2” or anything like it—be inventive), your name, your e-mail address, and course identifying information (e.g., “PM598 for this term” will suffice—obviously, use the correct term identifier). The second page will be a Table of Contents (TOC) listing the major RFP sections together with page numbers. Include on this page a listing of the references that you used in the RFP preparation, including websites, if any. The next 1-to-10 pages constitute the main body of the RFP. Appendix B contains a list of suppliers to whom you would send the RFP. These must be real bona fide contractors—not hypothetical ones. On that page, say how you chose these potential suppliers. The cover sheet, TOC/references page, and supplier list do not count toward the 10-page limitation.

The structure should, therefore be:

Cover sheet (one page) Table of contents and references (one page) RFP main body (no more than 10 pages) Appendices (no page limit) Appendix B: Supplier list (one page)

Deadline: PP2 is due by the end of Week 4.

Submit your PP2 assignment to the Week 4 Dropbox.

Scoring:

Cover Page

10

Table of Content and References

15

RFP Main Body Section 1&2

20

RFP Main Body Section 3&4

20

RFP Main Body Section 5&6

20

Appendix A & B

20

Document Organization

20

Total Points

125

Part III (PP3)

Assignment: PP1 and PP2 were designed to highlight TCOs A, B, C, D, and E. In terms of textbook coverage, PP1 dealt with material in Chapters 1 through 8. In contrast, PP3 covers all of the TCOs but touches mainly upon textbook Chapters 9 through 12. You will be required to identify an opportunity throughhttps://www.Fbo.gov and follow the instructions which are located in the Doc Sharing section.

This project is to be prepared and submitted in accordance with the guidelines presented below.

Submission Details:

Please submit your PP3 document to the Week 6 Dropbox. Instructions could be found in the PP3 – Formal Proposal Submission in the Doc Sharing section.

Clarification Issues: As a service to everyone in the class, all questions of a clarification nature should be posted in the weekly Q & A Forum during the week in which your question arises.

Grading: see scoring grid below.

Deadline: PP3 is due by the end of Week 6.

Submit your PP3 assignment to the Week 6 Dropbox.

Scoring:

Cover Page

5

Technical Approach

35

Personnel quals and management approach

35

Past performance and teaming agreements

25

Capabilities and format

25

Total Points

125

PROJ598 All 7 Weeks Discussions

PROJ598 All 7 Weeks Discussions

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Product Description

PROJ-598 Contracts and Procurement Management All 7 Weeks Discussions, A+ Material (PROJ598 PM598)

PROJ598 Week 1 DQ1 Overview of the Project Procurement Processes

PROJ598 Week 1 DQ2 Building Trust

PROJ598 Week 2 DQ1 Contract Risk

PROJ598 Week 2 DQ2 Why Do We Need Contracts

PROJ598 Week 3 DQ1 Bid v. No Bid

PROJ598 Week 3 DQ2 Potential Conflict Buyers & Sellers

PROJ598 Week 4 DQ1 Contract Pricing

PROJ598 Week 4 DQ2 Source Selection

PROJ598 Week 5 DQ1 Best Practices

PROJ598 Week 5 DQ2 Negotiating Case Study

PROJ598 Week 6 DQ1 Getting the Job Completed

PROJ598 Week 6 DQ2 World Class PMO

PROJ598 Week 7 DQ1 The Uniform Commercial Code

PROJ598 Week 7 DQ2 I’d like to give some advice to

PROJ 598 Entire Course / Contract and Procurement Management

PROJ 598 Entire Course / Contract and Procurement Management

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All weeks discussions
Week 3 Quiz

Week 5 You Decide

Week 7 Negotiation Excercise

All three parts of course project

Week 8 Final Exam