1. What is the primary purpose of procurement planning?2. You are creating your SOW for inclusion in

1. What is the primary purpose of procurement planning?2. You are creating your SOW for inclusion into the RFP. You wish to include both qualitative and quantitative evaluation criteria in the RFP. Describe qualitative versus quantitative evaluation criteria.3. Which has more cost risk to the seller, a fixed-price contract or a cost-reimbursable contract? Why? How might that risk be mitigated?4. Compare and contrast sole source and single source approaches to procurement.5. You have been assigned the task of creating an RFP. Your project sponsor insists you do market research before writing the procurement SOW. How might this market research contribute to the procurement SOW?6. You are preparing for contract negotiations for a job opportunity. To achieve your desired contract negotiation results, as part of your preparation, you need to understand what is your BATNA (Best Alternative To a Negotiation Agreement). You have completed your MBA in Project Management but have no experience in the field. The Job announcement indicates a starting salary of $80,000 for a level 3 Project Manager. After the interviewing process you have been selected for this opportunity and HR calls with a $80,000 annual salary offer for taking this position. But you will really honing for a 6 figures salary since according to your research the average salary for this position is $100,000. You also know that many PMs including you will die to work for this company.How will you negotiate your salary?Your answer to the above questions should include each of the following points below and must be justified.What will your negotiation strategy be?Going into this deal, tell us, what is your BATNA, status quo, and risks?What is your bottom line ?What is your dream salary?How will you plan for this negotiation?What tactics and counter-tactics will you use?7. One of the inputs to contract closeout is completion of work. What does it mean?8. You are a potential seller for a large project. You have just exited the bidder’s meeting. What are some items you would likely consider before making your bid or no-bid decision?9. Given the following, answer the below questions.Target Cost: $60,000 Target Fee: $15,000 Target Price: $75,000 Ceiling Price: $100,000 Buyer-Seller Share Ratio: 60:401.- Whatis thePoint of Total Absorption (PTA)? (5pts)2.- What will the cost overrunbe at the PTA? (5pts) 3a.-Based on buyer-seller share ratio formula what willbe the BUYER contribution to the overrun? (2.5 pts)3b.- Based on buyer-seller share ratio what willbe the SELLER contribution to the overrun? (2.5 pts)4.-How much does the buyer pay when the actual cost reaches PTA? (5pts) 5.-How much profit/loss does the seller make when actual cost reaches PTA? (5pts)10. Compare and contrast an RFP and an RFI. When would each best be used in procuring goods or services?11. Describe the buyer’s plan procurement process of the contract management process as it relates to creating a RFP. Give an example of the activity that takes place in each step.12. Describe and compare and contrast the buyer’s and seller’s actions in the control procurement phase of the contract management process. Give an example for each.13. What does the uniform commercial code (UCC) state regarding price and warranty? What if a price is not specified in an agreement? What if a price is specified in an agreement? Does the UCC modify the price? What about a warranty? What rights does the buyer have for a guarantee under the UCC? What protection is granted to the seller?