PMP Exam Practice Question and Answer #103 - Vendor Selection

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"PMP Exam Practice Question and Answer #103 - Vendor Selection | PMP Exam Prep, Project Management, PMP Exam" The Scenario is ***************** As a project manager, you are in the process of selecting a vendor for a critical component of your construction project. You have identified several potential suppliers and need to make a decision based on multiple criteria. The criteria include cost, delivery time, past performance, quality of materials, and the vendor's sustainability practices. How should you approach this decision to ensure an optimal choice in line with the project's procurement requirements? A. Choose the supplier offering the lowest cost to stay within budget. B. Select the supplier with the shortest delivery time to ensure project timelines are met. C. Evaluate each supplier against all identified criteria using a weighted scoring model, and select the one with the highest overall score. D. Give preference to the supplier with the best past performance record, assuming they will meet all other criteria satisfactorily. ---------------------------------------------------- Right Answer and Explanation: ********************************* Correct Answer is : C) This question tests the understanding of multi-criteria decision-making in project procurement. Option A focuses solely on cost, which may compromise other important aspects like quality or delivery time. Option B emphasizes delivery time without considering cost, quality, or other factors. Option C is the best approach as it uses a weighted scoring model to evaluate each supplier against all identified criteria, providing a balanced and comprehensive assessment. This method ensures that the decision is made considering all important aspects, aligning with the project's broader objectives. Option D, while considering past performance, neglects to assess the supplier on the current project's specific criteria, which might lead to a suboptimal choice. ------------------------------------------------------ PMP Exam Content Outline Mapping ---------------------------------------------------------- Domain: Process Task 11 Plan and manage procurement ----------------------- Topics Covered **************** Source Selection Multi Criteria Decision Making --------------------------------------------------------------------------------------------- Consider following us on LinkedIn and subscribing on YouTube for more content like this. ----------------------------------------------------------------------------------------------- **PMP Daily Poll question bank : https://www.izenbridge.com/kb/categor... **PMP Agile questions bank: https://www.izenbridge.com/kb/categor... **PMP Exam Syllabus- Exam Content Outline (ECO) Tutorial: https://www.izenbridge.com/kb/categor... **Get PMP Free Practice Test - 2023 : https://www.izenbridge.com/free-resou... PMP Certification Training link: ------------------------------------------------- https://www.izenbridge.com/project-ma... Also, you can email my support team for more questions at : [email protected] Connect with us on WhatsApp : https://wa.me/919958287711 ------------------------------------------------------------------------------------------------------ Youtube :    / izenbridge   Instagram :   / izenbridgeofficial   LinkedIn :   / izenbridge-consultancy-private-limited   Facebook :   / izenbridge   #pmpizenbridge #PMPDaily #PMPExamQuestion #PMPExam #ProjectManagement #pmpcertification