Question

Question 1 of 50 You are managing a project to purchase state-of-the-art technology. You have just completed your market research and solicited proposals from prospective sellers. All of the following are part of the procurement documents except for which one? O Procurement statement of work O Negotiation points O Terms and conditions O Description of the desired form responses Question 2 of 50 A PM is creating a top-down estimate of costs for her project. In particular, one historical record shows a project of similar size and duration that might fit the current estimation needs. This cost estimate is based on the grand total cost of that previous project and has an approximate range of -25 to + 75%. What type of estimate is this? O High-level O Definitive O Budget O Rough order of magnitude or ROM

Answer 1

1) Negotiation points

As the market research is completed and solicited proposals from prospective sellers, it will have statement of purpose, terms and conditions, form responses. Negotiation points will come in the later stage

2) ROM

As it is the top down approach, ROM is used in the initial phase to get an idea about rough estimate which may be required for project selection. It has both plus and minus variance