Reconcile contract acceptance and supplier cash
A hands-on PMP lab. You produce the real artefact and 10 automated checks verify it behaves the way the exam expects.
- Certification
- PMP
- Format
- Structured configuration
- Difficulty
- hard
- Estimated time
- 40 min
- Automated checks
- 10
The brief
Repair contract-plan.json; days are elapsed from 0 and money is dollars. Contract: design $20,000 (architecture revision 2); components $30,000 (safety revision 3, after design); integrated $40,000 (interface and capacity revision 3, after components); handover $0 (knowledge and inventory revision 3, after integrated). Acceptance owner is quality-owner for the paid milestones and operations-owner for handover. Reports: design-2 at day 2 passes architecture r2; components-4 at 4 passes safety r3; integrated-6 at 6 passes interface/capacity r3; bundle-4 at 4 passes design architecture r2 and component safety r3; handover-8 at 8 passes knowledge/inventory r3; legacy-1 at 1 passes architecture r1; failed-3 at 3 fails safety r3. acceptances rows: milestone,owner,evidenceRefs,at. Cover every current criterion using passing reports available by acceptance; retain predecessor acceptance order. invoices rows: milestone,issuedAt,checkedAt,reviewer,paidAt,gross,retained,advanceApplied,cash. Invoice each paid milestone once at contract gross, after acceptance. Independent finance-reviewer or contract-admin checks after issue; cash pays at least 1 day later. Withhold 10% of each gross. retention: milestone=handover,releaseAt,checkedAt,reviewer,paidAt,amount,cash; release all held cash after handover acceptance, then finance check and 1-day payment lag. advance: amount,paidAt,authorityRef,guaranteeRef; zero uses null refs. FA30 authorizes up to $30,000 on days 1–3; G30 guarantees $30,000 on days 0–9. Recover the advance exactly once through invoice offsets; cash=gross-retained-advanceApplied. Supplier must receive $45,000 cash by day 5; total contract/cash ≤$90,000 and final cash by day 9. forecast: contractAmount,grossInvoiced,retained,advanceRecovered,totalCash,cashByLiquidityDay,finishDay. Reconcile actual records. Staged or bundled acceptance and secured advance can differ. Row order is immaterial; save and repair without Reset.
What the checks verify
Your work is graded on 10 independent properties, not on matching one reference answer.
- The bounded acceptance and cash artifact is editable and finite.
- Acceptance retains current passing criterion evidence, owner and predecessor order.
- Invoices preserve all positive contract milestone amounts once.
- Withheld and released retention reconcile to the handover acceptance gate.
- Invoice and retention cash follow independent checking and payment lag.
- Any advance has supplied authority and sufficient active guarantee.
- Actual cash and once-only advance offsets reconcile to net invoices.
- Actual early cash meets the supplier's working-capital requirement.
- The actual cash plan fits funding and final settlement constraints.
- Reported contract, invoice, retention, advance and cash facts reconcile.
Where this sits in the PMP blueprint
- Domain
- Process
- Objective
- Procurement Management
- Skill
- Contract Strategy and Supplier Performance
Part of PMP preparation
Labs are written by ExamNova to teach the decisions the exam tests. They are not reproductions of vendor lab content.