CIPS Exam A8 Topic 1 Question 65 Discussion

Actual exam question for CIPS's A8 exam

Question #: 65
Topic #: 1

Which of the following best describes the basic purpose of contract management?

AInforming a member of your companys senior management team if something goes wrong with the supplier's performance of a contract

BAllowing a contract to take its course unless something goes wrong, at which point you take action

CRequesting the expediter to telephone the supplier regularly to obtain constant delivery updates

DForecasting and analysing potential risks in the contract under the headings of cost, quality and time.

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Suggested Answer: B

by Elsa at Aug 05, 2024, 12:50 PM

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Benedict

3 months ago

D) Forecasting and analysing potential risks in the contract under the headings of cost, quality and time. Sounds like a job for my crystal ball and tarot cards!

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Noble

2 months ago

User 2

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Salena

2 months ago

User 1

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Carissa

3 months ago

D) Forecasting and analysing potential risks in the contract under the headings of cost, quality and time. Gotta be on top of those potential landmines!

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Harley

3 months ago

C) Requesting the expediter to telephone the supplier regularly to obtain constant delivery updates. Micromanaging, much?

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Graciela

3 months ago

I think both forecasting risks and informing senior management are key aspects of contract management.

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Huey

3 months ago

B) Allowing a contract to take its course unless something goes wrong, at which point you take action. Hands-off approach, my kind of style.

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Mari

3 months ago

I agree, it's about finding the balance between oversight and letting things progress as planned.

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Chau

3 months ago

D) Forecasting and analysing potential risks in the contract under the headings of cost, quality and time.

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Cyril

3 months ago

B) Allowing a contract to take its course unless something goes wrong, at which point you take action

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Mari

3 months ago

I think it's important to keep an eye on the contract and only intervene when necessary.

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Mari

3 months ago

I prefer a hands-off approach too. Let things run smoothly until there's an issue.

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Leonardo

4 months ago

I believe it's also about informing senior management if something goes wrong with the supplier's performance.

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Dylan

4 months ago

A) Informing a member of your company's senior management team if something goes wrong with the supplier's performance of a contract. Gotta keep the higher-ups in the loop!

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Kelvin

3 months ago

D) Forecasting and analysing potential risks in the contract under the headings of cost, quality and time.

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Dean

3 months ago

A) Informing a member of your company's senior management team if something goes wrong with the supplier's performance of a contract. Gotta keep the higher-ups in the loop!

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An

4 months ago

I agree with Tu. It's important to identify risks in advance to prevent any issues during the contract.

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Ernestine

4 months ago

D) Forecasting and analysing potential risks in the contract under the headings of cost, quality and time. Seems like the most comprehensive option to me.

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