The purpose of this assignment is for you to understand trade-off skills that a project manager must possess.
See the attached link to read “Contracts: Their Influence on Projects,“ from your textbook. Then, answer the following five questions:
- What is a firm-fixed price contract?
- What is a fixed-price-incentive-fee contract?
- What is cost-plus-incentive-fee contract?
- What is cost-plus-award-fee contract?
- What is cost-plus-fixed-fee contract?
As a buyer, which contract would you consider beneficial and be most interested in obtaining? As a seller, determine which contract you would consider as beneficial and be most interested in obtaining.
Your responses to the questions should total 2-3 pages and should cite at least three, current scholarly resources. APA format