ProjectManager.com

MAY 20, 2021

To do so, they use contracts, and one of the more common types is the fixed-price contract. But what differentiates a fixed-price contract from other contracts, and how can you tell when a fixed-price contract should be used? What Is a Fixed-Price Contract?

Construction 248

Construction Software Review Monitoring Executing 248

Project Pulse Journal

MAY 13, 2024

Malinawan, PMP Are you struggling to navigate the complexities of procurement in your projects, feeling overwhelmed by the daunting task of managing numerous suppliers and contracts? Cost Efficiency : Mastering procurement helps secure resources at the best prices, directly impacting the project's budget and financial success.

Technical Review 52

Technical Review Sustainability Risk Management Innovation 52

PM by PM

FEBRUARY 19, 2016

Fixed Price with Economic Price Adjustment Contract Explained Fixed Price with Economic Price Adjustment Contract is a variation of the basic Fixed Price Contract (FP). In this article, I will talk about Fixed Price […].

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Herding Cats

MARCH 21, 2018

Some acquisition policies express a strong preference for fixed-price contracts in contracting. Firm-fixed-price contracts are depicted as existing on the extreme left of the continuum of risk. For a mature supplier, that handling cost will be baked into the fixed price for the work.

Risk 47

Risk Estimate Risk Management Manufacturing 47

PM by PM

JANUARY 25, 2016

Fixed Price Incentive Fee Contract Explained PMBOK® Guide defines 3 different types of Fixed Price (FP) Contract. I have written about Firm Fixed Priced Contract (FFP) and Fixed Price with Economic Price Adjustment Contract (FP-EPA) in other posts.

Defining 33

Defining 33

Online PM Courses

APRIL 2, 2018

Contracted staff. The private sector is freer to buy from whomever they choose, and to let contracts following any process they wish. For external providers, the procurement team will need to enter into a legal contract. Procurement Contract Types. Fixed Price Contract. Unit Cost Contract.

Technical Review 76

Technical Review Risk Management Governance Government 76

Techno-PM

AUGUST 5, 2021

Once a customer chooses a proposal, they can sign the contract to commence the project. In the initial vendor-customer relationship, contract signing is one of the last stages, after which the true project pipeline begins. What is a Contract in Project Management? This is the most common type of contract used in businesses.

Technical Review 36

Technical Review Risk Management Monitoring Defining 36