Consider an organisation that wishes to select a vendor to supply a software package. Therequirements will be complex, and the client will need considerable help from the vendor toconfigure and implement the software. Which one of the following actions would you adviseagainst the client doing?a. Put out an RFP to short-listed vendor candidatesb. Perform due diligence before selecting a vendorc. Collect user requirements after the vendor has been selected, but before gap analysisd. Consider engaging the selected vendor in a software maintenance contract after the package has beensuccessfully implemented

User requirements refer to the specific needs and expectations of the end-users of a system or…

Answered: Consider an organisation that wishes to…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Give all three answers then only attempt. .... QUESTION THREE With reference to any project of your choice, justify the significance of the project cost control process. QUESTION FOUR Control Procurement is defined as the process of managing procurement relationships, monitoring contract performance, and making changes and corrections to contracts as deemed appropriate (PMI,2023). Considering this statement identify and describe the individual factors that are considered essential in informing the control procurement process. QUESTION FIVE Highlight the strategies that should be considered by project managers when managing procurement relationships, monitoring contract performance, and making changes and corrections to contracts.
Suppose that the Designer on your project team abruptly resigned his position. Instead offilling the vacancy internally, you decide to procure the services of a well-known externalconsultant to assist with the user interface design.a) Identify your choice of procurement document(s) as the mostsuitable to solicit the consultant’s services.
You are the managing Director of Mediconsult, a medical supplies company, located at Tema. Due to the COVID-19 pandemic, your regular import of supplies has been cut by half. As a result, you are unable to meet the demands of most of your clients. Write a letter to the Procurement Director of Abala Hospital, Spintex Road, to inform her of your inability to supply her company's request for face masks.
buyers could be the following individuals ? a. Customers and suppliers b. Workers and Suppliers c. Friends and Family d. None of the Above
SLO 7.1. The purpose of a requisition is: To request or requisition supplies from external suppliersTo give users a way to authorize buyers to acquire goods and servicesTo clarify the description of need before communicating with potential suppliersTo solicit price quotes for goods or services from suppliersTo give finance a way to have the final say in any decision to spend money SLO 8.1. Online reverse auctions are typically used when: Specifications are clearly definedThere is a competitive supply market with qualified suppliers willing to participateThe buyer is prepared to switch suppliers if necessarySpecifications are clearly defined and there is a competitive supply market with qualified suppliers willing to participateSpecifications are clearly defined, there is a competitive supply market with qualified suppliers willing to participate, and the buyer is prepared to switch suppliers if necessary
A. Sellers grant credit to customers: a. During periods of high interest rates to reduce the overall cost of capital (WACC) and to increase return on assets b. When granting credit is a low-cost addition to the value proposition relative to other alternatives c. When the seller does not want new customers d. When the seller wants to increase its marketing costs B. Which from the following list is NOT a primary cost of granting credit to customers: a. The cost of managing credit and credit collections b. Some customers will not pay c. The cost of carrying the receivables d. Advertising costs C. Matching the credit period to the buyer’s cash cycle time makes purchasing from the seller: a. Less attractive for the buyer b. Increases the elasticity of buyer demand c. Does not impact attractiveness for the buyer d. More attractive for the buyer
Which aspects of IT security would you expect to be incorporating into an IT procurement plan? a. Penetration testing, System hardness, Physical access b. Authorisation, Authentication and Audit expectations c. Anti-virus, Access controls, Password expiry d. You wouldn't consider security in procurement because it is a different issue entirely
Procurement- Which of the following is not a risk of taking legal action against a supplier? A. Loss of supplier B. Embarrassing C. Time-consuming D. Expensive
Instructions You are part of an architecture firm that has been contracted to design and build a new museum in a major city. Your firm is responsible for the entire project, from design to construction, and you will be working with a number of different suppliers and contractors. Your task is to analyze the procurement process for this project and provide recommendations based on the principles of procurement. The following are the steps involved in the procurement process: Planning and Strategy Sourcing and Supplier Selection Contract Formation Contract Management Contract Closeout Instructions Analyze each step of the procurement process for this project, considering the procurement principles and practices that apply. Identify any potential risks or issues that may arise. Provide recommendations for each step of the procurement process, including a justification for your recommendations based on procurement principles. Ensure that your recommendations are clear, concise, and…
1.Which of the following was not listed as a typical bootstrapping technique?a. Coordinate procurement with other companiesb. Employ internsc. Reduce personal expendituresd. Purchasing rather than leasing facilities2.Which of the following was one of the most important intellectual property mistakes made by entrepreneurs?a. Not properly registering their internet domain namesb. Not using their intellectual property as part of their overall plan for successc. Not properly identifying all their intellectual propertyd. Not fully recognizing the value of their intellectual property3.Many entrepreneurs tackle the challenge of raising capital in a haphazard manner because:a. they are inexperienced in this area, and they are unsure of their options.b. they haven’t finished a feasibility study or a business plan yet.c. they are focused on the nuts and bolts of starting their business.d. they are cautious about raising money, and they haven't written a business plan.4.Typically, the seed money…
“Did the Austin wedding contract you were working on go out yet?” asked Tonya Roberts, the executive director of the downtown convention center operated by the city of Springdale. “Yes, I mailed it to them yesterday after we talked about it,” replied Lara, the Center’s DOSM and revenue manager for space rental. “Why do you ask?” “I just got off the phone with the mayor’s office. They want to hold a big fundraiser for his reelection campaign in the ballroom the same night the Austin wedding wanted to reserve it. The wedding was for 200 people right?” continued Tonya. “That’s right. 200 people at about $150 a head; it’s a nice piece of business. About $30,000,” said Lara. “Well the mayor expects 1,000 people, at $100 per person. And don’t forget, he’s the boss. We can’t hold both events. I need you to call the Austins and tell them you made a mistake. Tell them the room is already booked that night. They’ll need to find another space.” What would you advise Lara to do if she asked you…
Write a business letter based on the context below: To attract customers, your company advertised a 10 percent discount of first-time orders from November 2-8. Although the advertisement clearly stated that this special offer applies only to orders from Nov 2-8, an order arrives today (Nov 9) from a client, Mr. Kenneth B. Abellera, purchasing agent of ABC Enterprises, requesting for the 10- percent discount. As sales representative for your company, write to Mr. Abellera. Explain that you can fill the order promptly but that the 10 percent discount is no longer available. The address of ABC Enterprises is 10 Paris Road, California.

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