Oliver 75 - 43rd Question

jyotimayank
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Oliver 75 - 43rd Question

Postby jyotimayank Tue Apr 19, 2016 8:07 am

43. According to the project plan, a contractor is scheduled to deliver some software components today afternoon. A regular payment is due to be made to this contractor tomorrow.
You and your project team received a note this morning informing you that the software delivery will be delayed by 2 weeks.
What should you do right now?

A. You should delay the payment also for 2 weeks.

B. You must immediately find a different contractor.

C. You should conduct a meeting with the contractor to resolve the delivery issues before making the payment.

D. You should make the payment and reschedule the project plan.
Jyoti Gupta
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iZenbridge Consultancy Pvt Ltd
sarthy
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Re: Oliver 75 - 43rd Question

Postby sarthy Fri Apr 22, 2016 9:25 am

C looks best.
Ananyapmp
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Re: Oliver 75 - 43rd Question

Postby Ananyapmp Fri Apr 22, 2016 11:39 am

Yes C, meeting is always better before any decision
jyotimayank
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Re: Oliver 75 - 43rd Question

Postby jyotimayank Wed May 11, 2016 7:22 am

Yes the correct answer is C.
Delaying the delivery means risk or change has occurred from the vendor's end, it is important to analyse and mitigate any risk in the project, through meetings. This can also be handled later on in performance review of the Vendor.

As per PMBOK® Guide 5th Edition
The objective of a performance review is to identify performance successes or failures, progress with respect to the procurement statement of work, and contract noncompliance, which allow the buyer to quantify the seller’s demonstrated ability or inability to perform work. Such reviews may take place as a part of project status reviews, which would include key suppliers.


The procurement management plan is a component of the project management plan that describes how a project team will acquire goods and services from outside the performing organization. The procurement management plan include guidance for Setting the scheduled dates in each contract for the contract deliverables and coordinating with the
schedule development and control processes.

PMBOK® Guide 5th Edition says
Control Procurements also has a financial management component that involves monitoring payments to the seller. This ensures that payment terms defined within the contract are met and that seller compensation is linked to seller progress, as defined in the contract. One of the principal concerns when making payments to suppliers is that there is a close relationship of payments made to the work accomplished.


Refer to Page 366-380 of PMBOK® Guide 5th Edition

For more insight of this topic refer to the following blog and webinar

Procurement Contract Type – Legal Relationship Between the Buyer and the Seller Specified!

http://www.izenbridge.com/blog/pmp-proc ... e-webinar/

Webinar: Procurement-Contract-Type
http://www.izenbridge.com/videogallery/ ... e-webinar/
Jyoti Gupta
PMP Mentor & Coach

iZenbridge Consultancy Pvt Ltd

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