For Projects That Are New and Have High Risk, the Contractor

question 45

True/False

For projects that are new and have high risk, the contractor should include larger amounts of contingency.

Determine the role of supply managers in developing, negotiating, and managing outsourcing contracts.

Comprehend the concept and implications of service triads in outsourcing.

Understand reasons for making (insourcing) versus buying (outsourcing) decisions.

Identify what constitutes a core competency and how it influences outsourcing decisions.

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Definitions:

Expectancy

The degree to which individuals believe that their effort will lead to effective performance and, consequently, a desired outcome.

Effort

The expenditure of physical or mental energy toward the accomplishment of a task or goal.

Valence

In psychology, refers to the intrinsic attractiveness or aversiveness of an event, object, or situation.

Range

denotes the extent or scope of something, often referring to the difference between the highest and lowest values in a set of data or the variety within a category.