Which of the Following Processes of Project Procurement Management Involves

question 51

Multiple Choice

Which of the following processes of project procurement management involves managing relationships with sellers, monitoring contract performance, and making changes as needed?

• A)Closing procurements
• B)Settling contracts  
• C)Deciding on the services to procure
• D)Controlling procurements

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Definitions:

Quantity Discounts

Price reductions offered to buyers who purchase in bulk or exceed specified quantities, incentivizing larger orders.

Cycle Counting

An inventory auditing procedure where a small subset of inventory, in a specific location, is counted on a specified day.

Cyclical Items

Goods or services whose demand fluctuates in a predictable pattern over time due to seasonal, economic, or other cyclic factors.

ABC Analysis

A methodology for classifying inventory items based on their importance, where A items are most valuable, followed by B and then C, to prioritize inventory management efforts.