Re: doubts on answers for these questions
rishiraj
As per my understanding both of ur ans are correct.
Pls advice on answers for these questions.
Answer should be A. but i found answer as D in a website.
Cost reimbursable is most risk for buyer and fixed price is most risk for seller.
--7. Of different forms of Contracts, which one puts the buyer at highest risk that the cost will
increase
a) Cost Reimbursable
b) Time and Material
c) Fixed Price
d) Purchase Order
for below It should be A. but answer found as B.
4. When analyzing risks using the certainty vs uncertainty spectrum,the term “unknown unknown is best described as ___________ .
A. at the extreme end of the uncertainty spectrum. They will definitely affect you, although you have no control over them.
B. items or situations whose existence can not imagine (“ who knew ?”).
C. items that will effect you ,although you are not able to predict how or how much they will effect
you?
D.rework.
You received this message because you are subscribed to the Google Groups "PMP Cert Online Study Group" group.
To unsubscribe from this group and stop receiving emails from it, send an email to pmp-cert-online-stu...@googlegroups.com.
To post to this group, send email to pmp-cert-onli...@googlegroups.com.
Visit this group at http://groups.google.com/group/pmp-cert-online-study-group?hl=en.
For more options, visit https://groups.google.com/groups/opt_out.
Jerry
Ramandeep Chahal
Dear Shanti,I agree with your answer for question 1. I too believe it should be CR. Purchase Order is a simple form of Contract, where the prices are fixed per unit.Question 2: The answer should be "B".Choice "A" says that "they will definitely affect you". Please remember that risks are uncertain events. They may or may not happen; if they don't occur, then you will not be affected. So, this choice is wrong.
Known unknowns are those risks which you can identify based on your experience; Unknown unknowns are something that you cannot even think of (basically "who knew?")Thanks,Manick
--
On Friday, May 17, 2013 8:25:49 AM UTC+5:30, Shanti wrote:Pls advice on answers for these questions.
Answer should be A. but i found answer as D in a website.
Cost reimbursable is most risk for buyer and fixed price is most risk for seller.
7. Of different forms of Contracts, which one puts the buyer at highest risk that the cost will
increase
a) Cost Reimbursable
b) Time and Material
c) Fixed Price
d) Purchase Order
for below It should be A. but answer found as B.
4. When analyzing risks using the certainty vs uncertainty spectrum,the term “unknown unknown is best described as ___________ .
A. at the extreme end of the uncertainty spectrum. They will definitely affect you, although you have no control over them.
B. items or situations whose existence can not imagine (“ who knew ?”).
C. items that will effect you ,although you are not able to predict how or how much they will effect
you?
D.rework.
You received this message because you are subscribed to the Google Groups "PMP Cert Online Study Group" group.
To unsubscribe from this group and stop receiving emails from it, send an email to pmp-cert-online-stu...@googlegroups.com.
To post to this group, send email to pmp-cert-onli...@googlegroups.com.
Visit this group at http://groups.google.com/group/pmp-cert-online-study-group?hl=en.
For more options, visit https://groups.google.com/groups/opt_out.
Regards,
Ramandeep S. Chahal
Ramandeep Chahal
As per PMBOK Cost Reimbursable contracts are where buyer is at the maximum risk and Fixed Price is where Seller is at maximum risk. T&M is a type of hybrid contracts and can't be n ans in this case.
gilbert khayat
Shanti Narayanan
Shanti
