CON 280 Source Selection and Administration of Service Contracts EXAM 1 Week with answers. COMPLETE SOLUTION

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Question 1 2 out of 2 points One possible risk handling option is to acknowledge the risk but make no changes. This is known as _____________. Selected Answer: a. Acceptan ce Answers: a. Acc ... eptan ce b. Transfer c. Mitigation d. Avoid Response Feedback: Corre ct  Question 2 2 out of 2 points The Contracting Officer for a complex services acquisition team is attending and leading his team’s initial meeting. He knows from experience and from DAU classroom training that risk identification is a critical process that will ensure a comprehensive, well-planned acquisition. During which stage of the acquisition lifecycle must risk identification and analysis be performed? Selected Answer: c. During the Review Current Strategy step of the Planning Phase of the services acquisition process, i.e. early and often - a continuous process Answers: a. During the post-award monitoring process b. During the development of the acquisition plan c. During the Review Current Strategy step of the Planning Phase of the services acquisition process, i.e. early and often - a continuous process d. During the Source Selection step of the Execution Phase Response Feedback: That is correct!  Question 3 2 out of 2 points At a minimum, the Market Research Report should: Selected Answer: a. All of the above. Answers: a. All of the above. b. Identify the team members c. Identify sources contacted d. Explain the needs driving the acquisition Response Feedback: That is correct!  Question 4 2 out of 2 points You are the lead Contracting Officer assigned to an acquisition team tasked with acquiring specialized environmental consulting services. Your program manager is familiar with the market and has reported to the team that there is an impending change in environmental regulations that will require potential offerors to develop or acquire new technical expertise. You have also received information about the upcoming budget which indicates that all departments will be required to cut spending by at least 15%. At the next Acquisition Team meeting, risk identification will be the main topic of discussion. Which statement best describes your initial assessment of the risks associated with this acquisition? Selected Answer: d. Multiple risks must be identified, assessed, and evaluated, including business/programmatic risk, technical risk, funding risk, and performance risk. Answers: a. The only risk is a business/programmatic risk: the development or acquisition of new expertise could have a negative impact on the program’s required schedule. b. The only risk is a funding risk: in the current budget climate, it is unclear whether funding will be available to cover this program. c. Since all potential offerors are in the same situation, there is no need to separately evaluate risk. d. Multiple risks must be identified, assessed, and evaluated, including business/programmatic risk, technical risk, funding risk, and performance risk. Response Feedback: That is correct!  Question 5 2 out of 2 points You are planning for the procurement of an advanced, engineering or operational systems development and first production. The uncertainties of performance are such that they preclude use of a fixed-price type contracts. However, they may not be so great as to justify use of a cost-plus-a-fixed-fee contract. In these circumstances, what contract type should be used? Selected Answer: a. Cost Plus Incentive Fee Answers: a. Cost Plus Incentive Fee b. Fixed Price with Economic Price Adjustment c. Fixed Price Incentive Firm d. Cost Plus Award Fee Response Feedback: That is correct!  Question 6 2 out of 2 points When should acquisition planning begin? Selected Answer: c. As soon as the agency need is identified Answers: a. When certified funds become available b. When the requirement is received and accepted by the Contracting Officer c. As soon as the agency need is identified d. When a Source Selection Authority has been identified Response Feedback: Corre ct  Question 7 2 out of 2 points Risk assessment consists of what two components? Selected Answer: b. Probability of the risk occurring in the future and the impact of that future occurrence Answers: a. Business/Programmatic risk and technical risk b. Probability of the risk occurring in the future and the impact of that future occurrence c. Identification of risk events and their relationship to each other d. Identification of risk and the measures employed to mitigate risk Response Feedback: Corre ct [Show More]

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