CAPM (Certified Associate in Project Management) Practice Exam

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Which of the following is considered a component of procurement management plan?

  1. Project charter

  2. Risk register

  3. Types of contracts

  4. Stakeholder register

The correct answer is: Types of contracts

Explanation A procurement management plan is a document that outlines the processes and procedures to be followed when buying goods or services for a project. Types of contracts are an essential component of this plan as they outline the specific legal agreements and obligations between the buyer and seller. They also detail the type of contract to be used and the terms and conditions that will govern the procurement process. The other options are not considered components of a procurement management plan. The project charter focuses on the objectives and goals of the project, the risk register identifies potential risks and mitigation strategies, and the stakeholder register lists all stakeholders involved in the project and their roles and responsibilities. While these documents may be important in project management, they are not specific to procurement management.

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