Flashcards
12 PROJECT PROCUREMENT MANAGEMENT
Flashcards do conjunto (14)
- 112.1 Plan Procurement ManagementThe process of documenting project procurement decisions,
specifying the approach, and identifying potential sellers. - 212.2 Conduct ProcurementsThe process of obtaining seller responses, selecting a seller, and awarding
a contract - 312.3 Control ProcurementsThe process of managing procurement relationships, monitoring contract
performance, and making changes and corrections as appropriate. - 412.4 Close ProcurementsThe process of completing each project procurement.
- 5• Fixed-price contracts.This category of contracts involves setting a fixed total price for a defined product,
service, or result to be provided. Fixed-price contracts may also incorporate financial incentives for
achieving or exceeding selected project objectives, such as schedule delivery dates, cost and technical
performance, or anything that can be quantified and subsequently measured. - 6Firm Fixed Price Contracts (FFP).The most commonly used contract type is the FFP. It is
favored by most buying organizations because the price for goods is set at the outset and
not subject to change unless the scope of work changes. Any cost increase due to adverse
performance is the responsibility of the seller, who is obligated to complete the effort. Under
the FFP contract, the buyer should precisely specify the product or services to be procured,
and any changes to the procurement specification can increase the costs to the buyer. - 7Fixed Price Incentive Fee Contracts (FPIF).This fixed-price arrangement gives the buyer and
seller some flexibility in that it allows for deviation from performance, with financial incentives
tied to achieving agreed upon metrics. Typically such financial incentives are related to cost,
schedule, or technical performance of the seller. Performance targets are established at the
outset, and the final contract price is determined after completion of all work based on the
seller’s performance. Under FPIF contracts, a price ceiling is set, and all costs above the price
ceiling are the responsibility of the seller, who is obligated to complete the work. - 8Fixed Price with Economic Price Adjustment Contracts (FP-EPA).This contract type is used
whenever the seller’s performance period spans a considerable period of years, as is desired
with many long-term relationships. It is a fixed-price contract, but with a special provision
allowing for pre defined final adjustments to the contract price due to changed conditions, such
as inflation changes, or cost increases (or decreases) for specific commodities. The EPA clause
needs to relate to some reliable financial index, which is used to precisely adjust the final price.
The FP-EPA contract is intended to protect both buyer and seller from external conditions beyond
their control. - 9Cost-reimbursable contractsThis category of contract involves payments (cost reimbursements) to
the seller for all legitimate actual costs incurred for completed work, plus a fee representing seller profit.
Cost-reimbursable contracts may also include financial incentive clauses whenever the seller exceeds,
or falls below, defined objectives such as costs, schedule, or technical performance targets. - 10Cost Plus Fixed Fee Contracts (CPFF).The seller is reimbursed for all allowable costs for
performing the contract work, and receives a fixed-fee payment calculated as a percentage of
the initial estimated project costs. A fee is paid only for completed work and does not change
due to seller performance. Fee amounts do not change unless the project scope changes. - 11Cost Plus Incentive Fee Contracts (CPIF).The seller is reimbursed for all allowable costs for
performing the contract work and receives a predetermined incentive fee based upon achieving
certain performance objectives as set forth in the contract. In CPIF contracts, if the final costs
are less or greater than the original estimated costs, then both the buyer and seller share costs
from the departures based upon a prenegotiated cost-sharing formula, for example, an 80/20
split over/under target costs based on the actual performance of the seller. - 12Cost Plus Award Fee Contracts (CPAF).The seller is reimbursed for all legitimate costs, but
the majority of the fee is earned only based on the satisfaction of certain broad subjective
performance criteria defined and incorporated into the contract. The determination of fee is
based solely on the subjective determination of seller performance by the buyer, and is generally
not subject to appeals. - 13Time and Material Contracts (T&M).Time and Material Contracts (T&M). Time and material contracts are a hybrid type of contractual
arrangement that contain aspects of both cost-reimbursable and fixed-price contracts. They are often
used for staff augmentation, acquisition of experts, and any outside support when a precise statement
of work cannot be quickly prescribed. These types of contracts resemble cost-reimbursable contracts in
that they can be left open ended and may be subject to a cost increase for the buyer - 14The statements of work may includeThe statements of work may include, but are not limited to:
• Specifications,
• Quantity desired,
• Quality levels,
• Performance data,
• Period of performance,
• Work location, and
• Other requirements.
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- PMP PMP - All Chapters FlashCards sobre 12 PROJECT PROCUREMENT MANAGEMENT, criado por miguelabascal em 15-07-2013.
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