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The Procurement School

June 27, 2021 by Dan

PSPP203-03 – Assessment 3

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Question 1 of 5

1. Question

How can prequalification be used as a risk mitigation strategy?

To set up smaller, shorter contracts.

To reduce non-performance risk by vetting suppliers for previous performance issues.

It increases the insurance provisions of the final contract.

By providing a larger pool of suppliers to issue the final RFx competition to.

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Question 2 of 5

2. Question

What can be evaluated during the RFx stage to reduce the risk of lack of capacity during performance of the contract?

References.

WorkSafe coverage requirements.

Contract A administrative criteria.

Pricing criteria.

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Question 3 of 5

3. Question

If a serious risk is identified mid-contract, what should you do?

Ignore it as it isn't on the risk management plan.

Address it head on, negotiating an amendment to the contract if necessary.

Transfer the risk to the contractor to deal with as they see fit.

Wait for the contractor to address the risk.

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Question 4 of 5

4. Question

When should risk assessment take place?

During the planning stage, before issuing the RFx.

During the planning stage and throughout the life of the contract.

After the contract is awarded.

During the planning stage, before issuing the RFx and again after the contract concludes.

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Question 5 of 5

5. Question

How should risk be allocated when setting up the contract?

Allocated to the party in the best position to manage that risk.

Transferred (to the greatest degree possible) to the contractor.

Shared equally 50/50 between the purchaser and the contractor.

Retained by the purchaser so they have complete control.

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