Time and Materials is one of three broad types of contracts—Fixed Price, Cost Reimbursable, and Time and Materials. Contract Types is a tool of the fourth edition PMBOK®’s Plan Procurements process. Time and Materials contracts are useful when the full scope of the project is unknown. They resemble Fixed Price contracts in that there can… [Read more…]
April 17, 2009 by tapuniversity
As project managers work with procurements, it’s important that they understand the different types of contracts. Contract Types is a tool of the fourth edition PMBOK®’s Plan Procurements process. There are a variety of contract types falling under the general categories of Fixed Price, Cost Reimbursable, and Time and Materials. The types of Cost Reimbursable… [Read more…]
April 16, 2009 by tapuniversity
Project managers increasingly need to be knowledgeable about procurement and contracts. Contract Types is a tool of the fourth edition PMBOK®’s Plan Procurements process. There are a variety of contract types falling under the general categories of Fixed Price, Cost Reimbursable, and Time and Materials. The types of Fixed Price contracts (as termed in the… [Read more…]
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April 20, 2009 by tapuniversity
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