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GSLC · Question #89

Which of the following are the tools and techniques of the Plan Procurements process? Each correct answer represents a complete solution. Choose all that apply.

The correct answer is A. Contract types B. Expert judgment D. Make-or-buy analysis. The Plan Procurements process relies on make-or-buy analysis, expert judgment, and contract types to determine acquisition needs and terms. The probability and impact matrix is a risk management tool, not a procurement tool.

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Question

Which of the following are the tools and techniques of the Plan Procurements process? Each correct answer represents a complete solution. Choose all that apply.

Options

  • AContract types
  • BExpert judgment
  • CProbability and impact matrix
  • DMake-or-buy analysis

How the community answered

(27 responses)
  • A
    89% (24)
  • C
    11% (3)

Why each option

The Plan Procurements process relies on make-or-buy analysis, expert judgment, and contract types to determine acquisition needs and terms. The probability and impact matrix is a risk management tool, not a procurement tool.

AContract typesCorrect

Contract types (fixed-price, cost-reimbursable, time-and-material) are a core tool of Plan Procurements used to define terms, risk allocation, and obligations in procurement agreements.

BExpert judgmentCorrect

Expert judgment is applied in Plan Procurements to evaluate market conditions, contract types, and procurement risks using input from subject matter experts.

CProbability and impact matrix

The probability and impact matrix is a tool of the Perform Qualitative Risk Analysis process within Project Risk Management, not of Plan Procurements.

DMake-or-buy analysisCorrect

Make-or-buy analysis is a fundamental Plan Procurements technique that determines whether project needs should be fulfilled by internal resources or purchased from an external vendor.

Concept tested: Plan Procurements process tools and techniques

Source: https://www.pmi.org/pmbok-guide-standards/foundational/pmbok

Topics

#procurement management#contract types#make-or-buy analysis#project management

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