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CTCM Contract Management 1 Exam Questions and Answers
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CTCM Contract Management 1 Exam Questions and Answers
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CTCM Contract Management 1 ExamQuestions and Answers
Contract Management Certification - Answer -Certified Texas Contract Management
Three (3) required classes
1. Contract Management
2. Project Management
3. Negotiations
Pass certification test with score of 70% or better
Apply for Certification
Definition of a Contract - Answer -Legal, written document to exchange goods or
services for consideration (compensation)
What is Contract Management - Answer -The entire contracting process from planning
through contract administration
Contract Management Framework (Plan) - Answer -Identify contracting objective and
strategy
Contract Management Framework (Procurement) - Answer -Fairly and objectively select
the most qualified contractors
Contract Management Framework (Contract Formation/Rate and Price Establishment) -
Answer -Ensure the contract contains provisions that hold the contractor accountable
for producing desired results, include all relevant terms and conditions as well as
establish processes that are cost-effective and aligned with the cost of providing the
goods and services
Contract Management Framework (Contract Oversight) - Answer -Monitor and enforce
the terms of the contract
Three "O's" Approach to Contract Management - Answer -1. Outline
2. Operate
3. Oversee
, Outline - Answer -Identify need, Develop CM Team, Conduct Risk Assessment,
Determine Procurement Method
Operate - Answer -Prepare Solicitation, Copies to CAT/CPA, Solicit Proposals, Evaluate
Responses, Award
Oversee - Answer -Execute Contract, Monitor Performance, Manage Change, Approve
Payment, Contract Closeout
Contract Manager's Duties - Answer -Oversees and manages the entire process
(contracting/procurement process)
Contracting/Procurement Process (1) - Answer -Project Planning and Budget,
Specification Development, Review and Evaluation of Solicitation Responses, Assuring
Contract Rates/Pricing are withing budget
Contract Award
Contracting/Procurement Process (2) - Answer -Participate in developing solicitation
and writing the draft document, Point of contact for disseminating the instructions
regarding the work to the contractor, receive and respond to communications between
the agency and the contractor, Monitor the contractor's progress and performance to
ensure goods and services confirm to contract requirements, Inspect and approve the
final product/services through formal acceptance/receipt process, Perform contract
closeout process
Contract Administrator - Answer -Oversees contract administration functions (post
award)
Contract Administrator (Duties) - Answer -Relationship management, implementing and
monitoring vendor performance and assuring contract compliance, approving payments,
managing contract changes
Characteristics of a Contract Administrator - Answer -1. Objective
2. Vigilant
3. Available to attend meetings
4. Responsive to contractor
5. Understand responsibilities of both parties
Contract Administration and Oversight General Processes - Answer -1. Planning
2. Monitoring vendor performance
3. Payment Approval
4. Change Management
5. Dispute Resolution
6. Termination
7. Contract Closeout
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