CTCM Exam Contract Management Latest Update 2024- 2025 Actual Exam Questions and 100% Verified Correct Answers Guaranteed A+
- "O"'s Approach to Contract Mgmt - CORRECT ANSWER: Outline, Operate, Oversee
An integral role of a successful contracting process is the role of the - CORRECT ANSWER: Purchaser-is the only one that can legally bind the contract
Can a PO or grant /ever be considered a contract? - CORRECT ANSWER: Yes if for simple or low value however No if high dollar or technical purchase
Can an agency withhold a payment? - CORRECT ANSWER: Yes, agencies have the responsibility to protect the interest of the agency and despite best efforts to resolve an invoice issue
Conflict of Interest Documentation - CORRECT ANSWER: Contractors to disclose in their responses any actual or potential conflicts of interest; provided in the proposal application or bid to contrators
Contract Administrator(CA) vs. Contract Manager(CM) - CORRECT ANSWER: Not the same but very similiar CA - responsible for post award CM - is responsible for all functions of contract mgmt.
Ethical Standards of Conduct - EEs should not do - CORRECT ANSWER: 1. Accept or solicit any gift, favor or service that might influence
- Accept employment or engage in a business or pro activity where ee might disclose confidential info
- Accept other employment or compensation that could impair the ees judgment
How can risk be identified? - CORRECT ANSWER: Product - can arise b/c of the nature of a product ie. gas Process - unclear definition project and an unclear procurement strategy 1 / 2
Financial - procurement agreement will result in a major contract Schedule - time it takes to complete each phase of them project
How do you determine who should be awarded a contract? - CORRECT ANSWER: whoever has the best value for the state of Texas, responsive and responsible
How to quantifying risk? - CORRECT ANSWER: No one formula; identify the areas of importance and assign a level of risk to each area; can be numerical, or simple with high med low
Non-Disclosure Statement - CORRECT ANSWER: is required prior to reviewing vendor proposals posting to the ESBD; agreement not to divulge info related to the solicitation
Operate - CORRECT ANSWER: Procurement/Contract Formation:Rate/Price Established: Purchaser/CM/ Legal
Outline - CORRECT ANSWER: Plan: Purchaser/SME/End User/ Internal,external stakeholders
Oversee - CORRECT ANSWER: Contract Oversight: End User: CA/CM
Procurement Process - CORRECT ANSWER: Need defined: End User: CM and Purchaser
Procurement Method Selected: Purchaser
Solicitation: Purchaser/CM
Receipt of Proposals /Bids: Purchaser/CM/Eval Team
Evaluation & Award: Purchaser/General Counsel
Inspection and Acceptance: End User: CM
Contract Admin End User: CM/CA
Payment: AP/CM/CA
Contract Closeout: End User: CM/CA
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