Vendor Evaluation & Selection Flashcards
7 cards from real CSI practice questions. Tap to flip, then mark Knew It or Still Learning โ missed cards come back until you master them.
Read the first 7 Vendor Evaluation & Selection flashcards as text
Which of the following is a primary risk of sole-sourcing a vendor without a competitive bidding process?
Answer: Potential overpayment, reduced leverage, and audit/compliance exposure
Sole-sourcing bypasses competitive pricing pressure and may trigger compliance concerns, particularly in public sector procurements requiring justification.
A vendor evaluation team includes members from IT, Finance, Legal, and Operations. This cross-functional composition primarily ensures:
Answer: That all relevant organizational perspectives and requirements are represented in the decision
Cross-functional evaluation teams ensure the vendor selection considers technical, financial, legal, and operational requirements holistically.
When evaluating cloud service vendors, which compliance certification is most relevant for organizations handling US healthcare data?
Answer: HIPAA / HITECH compliance attestation
HIPAA and HITECH establish mandatory data privacy and security requirements for vendors handling Protected Health Information (PHI) in the US.
What is the primary difference between a vendor's stated capabilities and their demonstrated capabilities during evaluation?
Answer: Demonstrated capabilities are validated through evidence, while stated capabilities are self-reported claims
Demonstrated capabilities backed by PoCs, case studies, and references carry more weight than self-reported claims in vendor marketing materials.
A system integrator is evaluating vendors for a project requiring frequent scope changes. Which contract type best protects the client in this scenario?
Answer: Time and Materials (T&M) contract with a not-to-exceed ceiling
T&M contracts with a not-to-exceed ceiling provide flexibility for scope changes while limiting cost exposure for the client.
During vendor negotiations, the practice of 'anchoring' refers to:
Answer: Setting an initial reference point (price or term) that influences the direction of subsequent negotiation
Anchoring is a negotiation tactic where the first number introduced sets a psychological reference point that shapes the entire negotiation.
What is the purpose of a vendor's ISO 9001 certification in the context of vendor evaluation?
Answer: It demonstrates the vendor has a quality management system ensuring consistent processes and continual improvement
ISO 9001 certification verifies the vendor operates a documented quality management system (QMS) committed to process consistency and improvement.