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The Procurement School

June 26, 2021 by Dan

PSPP201-02 Assessment 2

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Question 1 of 5

1. Question

In the context of a cost-benefit analysis, what kind of costs are equipment, salaries and software?

Intangible costs.

Tangible costs.

Budgeted costs.

External costs.

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Question 2 of 5

2. Question

In the context of a cost-benefit analysis, what kind of benefit is an improved public image?

Tangible benefit.

Undocumented benefit.

Intangible benefit.

Secondary benefit.

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Question 3 of 5

3. Question

How is risk analyzed when using the Enterprise-Wide Risk Management (ERM) Model?

By multiplying the likelihood of occurrence by the impact of the consequence to get a risk score.

By dividing the likelihood of occurrence by the seriousness of the consequence to get a risk score.

By ranking risk in order of cost, then impact to get a risk rating.

By ranking only those risks that cannot be transferred to the contractor based on likelihood of occurrence and impact on the project budget.

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Question 4 of 5

4. Question

In the context of a risk assessment, what kind of tools are contractor insurance and performance bonding?

Risk mitigation tools.

Risk retention tools.

Financial risk penalty tools.

Risk assessment rating tools.

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Question 5 of 5

5. Question

In the context of a cost-benefit analysis, what is the definition of a tangible benefit?

Advantages that can be easily quantified by procurement analysts or accounting personnel, usually in dollar terms.

Financial advantages that are anticipated and identified in the project plan.

Benefits that are directly correlated with cost savings resulting from the procurement.

Any benefit that can be attributed to a risk treatment plan.

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