Negotiated bid Study guides, Class notes & Summaries

CIPS Tender Process - correct answer Determine style of tender Prepare invitation -include info so all bidders understand the need and send a suitable bid Send ITT using suitable platform Receive bids - any bids after deadline date should be disregarded. Evaluate the bids. Check they meet the required expectations, disregard bids that are incomplete or bids that are not the correct standard. Evaluate the bids against the criteria and score. Use a cross functional team so the process is fa...

CIPS L6M8 - Innovation in Procurement and Supply Supply chain integration Supply chain integration requires the procurement professional to develop strategic collaboration with key supply chain partners and understand customer requirements. Behaviours to enhance innovation Pellathy identified 3 key behaviours that affect how individuals engage with each other: 1, Task behaviours - how an individual executes tasks of their role 2, Organisational citizenship - the quality of a person's in...

ARE 5.0 Construction & Evaluation Questions and Answers Rated A+ Competitive bid Can be public or private and involves more than 1 contractor Negotiated Bid For privately funded projects, Owner and Architect work with 1 GC to reach a price Why would an Owner hire a Construction Manager as Adviser (CMa)? To assist in project delivery by providing cost estimating, scheduling, and construction contract management services to the Owner Which project delivery limits the role and responsibilities o...

STC SIE Chapter 1 Questions and Answers Already Passed True or False: The price at which a broker-dealer will purchase shares from a customer is called the ask price. False. The price at which a broker-dealer will purchase shares is called the bid price, while the ask price is the price at which they will sell shares. What does OTC stand for in financial markets? Over-the-counter What is the term for the price at which a dealer agrees to sell securities? The offer or ask price Wh...

CFCM Study Guide: FULL TEST Latest Update with Verified Solutions Which of the following statements is NOT true? a. The government encourages the maximum practicable commercial use of inventions made under government contracts. b. The government recognizes rights in data developed at private expense, and limits its demands for delivery of that data. c. The government requires that contractors obtain permission from copyright owners before including copyrighted works, owned by others, in data...

Miller Act 1935 - Federal Government passed bond requiring payment and performance bonds on all public works, what year? Brooks Bill 1972 - Bill directing A/E's selected on qualifications, what year? Clinger Cohen Act/Defense Procurement Reform Act 1996 - Allows all federal agencies to utilize Design-Build. Prior to that no enabling legislation existed allowing Design-Build. Standard of Care - The level of quality that any average Design Professional would be able to perform given the cir...

Which of the following statements is NOT true? a. The government encourages the maximum practicable commercial use of inventions made under government contracts. b. The government recognizes rights in data developed at private expense, and limits its demands for delivery of that data. c. The government requires that contractors obtain permission from copyright owners before including copyrighted works, owned by others, in data to be delivered to the government. d. Generally, the governmen...

Web-based contracting correct answers provides an environment supporting scheduling, controlling, regulating, analyzing, and auditing the procurement and delivery of materials and services for construction in an electronic format. construction managers supervise contracts with: correct answers Subcontractors Specialty firms Labor unions Equipment vendors Materials vendors Major Construction Contract Types correct answers Competitively Bid Contracts Stipulated Sum Contracts Unit Price...

Miller Act 1935 - Federal Government passed bond requiring payment and performance bonds on all public works, what year? Brooks Bill 1972 - Bill directing A/E's selected on qualifications, what year? Clinger Cohen Act/Defense Procurement Reform Act 1996 - Allows all federal agencies to utilize Design-Build. Prior to that no enabling legislation existed allowing Design-Build. Standard of Care - The level of quality that any average Design Professional would be able to perform given the ...

A cost is reasonable if, in its nature and amount, it does not exceed - that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the following? - The contract specifies payments aggregating $100,000 or more. Individuals delegated micro...