Certified Texas Contract Manager Study Review Study Guide Rated A+

Auctioneering {Ans: Disclosing competing vendor's costs or prices; indicating a specific price that must be met; advising a vendor of their standing in relation to the other vendors.}Negotiation {Ans: Often used to build relationships}Corrective action {Ans: - Analyze each issue including the current and potential impact if no action taken - prioritize problems from the most serious to the least serious - identify potential solutions - determine the best approach to resolution or corrective action - implemented the selected corrective action}Role of the contract administrator {Ans: Oversees the contract administration functions (post award)}Project closeout {Ans: Primary purpose of the closeout is to formalize project completion and disseminate information to project participants}Risk identification {Ans: Identifying and documenting all risks that could potentially impact the project.}Assumption {Ans: A conclusion that is drawn without affirmation from another source. Problems occur when one thinks and acts as if the assumption is truth.}What are objectives? {Ans: The tangible activities, outputs and measures to ensure you meet your goals}Use solid data {Ans: Used to back up your positions}Identify and prioritize issues by type {Ans: - issues you are unable or unwilling to compromise - issues you