Which of the following is an example of a procurement method?

• A. GMP
• B. QBS
• C. Fixed Price
• D. Low Price

Answer: (B)

The concept being tested is how a project team is chosen, i.e., the method used to procure services. Qualifications-Based Selection is the procurement method because it determines who is hired primarily based on qualifications, experience, and approach, with price negotiations occurring after a qualified firm is selected. This contrasts with other terms: GMP is a pricing mechanism within a contract, Fixed Price is a contract type that sets a lump-sum price, and Low Price describes a pricing criterion used in some bid processes rather than a selection method by itself. Therefore, the example of a procurement method is Qualifications-Based Selection.