L3M3 Exam Dumps - Contract Administration

Explanation

Cost transparency - this requires a high trust level, as both parties open up and share information on the costs of their operations.

Open book costing is a one-way share - the seller allows the buyer to look at their actual costs.

Explanation

The Executive Summary summarises the situation for busy executives to save them working all the way through the detail.

The summary needs to be very well written, accurately reflective of the entire document, and in-clude the key points needed to make a balanced decision.

The executive summary should be written last of all the sections, and is often the only part of a document which will be read.

Explanation

The best quotation is selected, which would meet the specification as well as meeting the other re-quired criteria; and in order to progress things round the procurement cycle, a purchase order would be issued.