Exam PMP topic 1 question 733 discussion

Actual exam question from PMI's PMP

Question #: 733
Topic #: 1

During the service procurement process for a strategic project, only one bidder submitted a bid. The price of the offer is significantly large and the project sponsor is not I convinced that the return on investment (ROI) can be achieved.

How should the project manager address this issue?

A. Analyze the bounds of negotiations for project agreements.
B. Re-visit the project charter and seek other alternatives.
C. Speak with the CEO and ask for their support to approve the offer.
D. Proceed and issue the purchase order as this project is important.

Show Suggested Answer

Suggested Answer: B 🗳️

by tdipen22 at Dec. 19, 2022, 2:47 p.m.

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IBANGA007

Highly Voted 2 years, 1 month ago

Selected Answer: B

B. Re-visit the project charter and seek other alternatives. The project manager should first revisit the project charter and assess if the project goals and objectives can be met with other alternatives. This could include re-evaluating the project requirements, researching other suppliers and/or re-designing the project in order to reduce the cost. If all other alternatives are exhausted, then the project manager should seek approval from the project sponsor or the CEO to proceed with the purchase order.

upvoted 8 times

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victory108

Most Recent 1 year, 4 months ago

Selected Answer: B

B. Re-visit the project charter and seek other alternatives

upvoted 2 times

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Alizade

1 year, 4 months ago

Selected Answer: B

The correct answer is: B. Re-visit the project charter and seek other alternatives.

upvoted 2 times

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SteAle

1 year, 6 months ago

Selected Answer: A

The PM needs to try to negotiate a better deal

upvoted 2 times

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Alizade

1 year, 10 months ago

Selected Answer: B

Given that the project sponsor is not convinced about the return on investment (ROI) based on the submitted bid, the project manager should re-visit the project charter and explore other alternatives to achieve the project's objectives. This could involve re-evaluating the procurement strategy, refining the requirements, or even seeking additional bidders to create competition and potentially lower the cost.

upvoted 4 times

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tdipen22

2 years, 1 month ago

A seems more appropriate.

upvoted 3 times

AntoFE

1 year, 1 month ago

A is more of an techniques for negotiations. They used the word Project Agreement to trick us into believing this is a contract relating issue. In this case, B is a better answer.

upvoted 1 times

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