Answer the following:

1. (TCO 2) A firm should concentrate on its _____ processes while outsourcing its _____ processes. 
2. (TCO 5) To assess the impact of a contract on both the buyer and seller, an analysis of exposure can be completed. Categories analyzed in this exposure analysis include all of the following except: ______. 
3. (TCO 7) For most customers, requesting multiple bids is the preferred approach because it: _______. 
4. (TCO 6) The Term, Contracting Party, Integration, Retained Assets, and Performance Standards are all: _______. 
5. (TCO 3) What activities is the contract administrator responsible for in a contract situation? What about the project manager? 
6. (TCO 4) What is the difference between the Cost-Plus-Fixed Fee (CPFF) and the Cost-Plus-Incentive Fee (CPIF) contract structures? 
7. (TCO 6) List three commonly used evaluation criteria listed in an RFP and explain why a buyer would want this information before selecting a seller. 
8. (TCO 8) What is an independent estimate and why should a buyer produce an independent estimate before selecting a seller? 
9. (TCO 7) Describe the common sections of the RFP. 
10. (TCO 2) Part 1: List and define the six phases of the project procurement management process. Part 2: How could you organize a simple project such as renovating a bathroom into the six steps in the project procurement management process? Part 3: The buyer determines the contract pricing structure during which step of the project procurement process?
11. (TCO 1) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer's motivations with the seller's?
12. (TCO 3) Evaluate the most common business drivers for outsourcing business processes. Which two drivers would be among the most important? 
13. (TCO 1) List and describe the directives to consider the process of outsourcing if you are a senior manager.