Straightforward Question - Reasoning
Posted: Fri Dec 08, 2017 9:30 am
Dear Folks , please share your reasoning
If you are working on a project with constantly changing scope, which
contract type would work best when hiring an outside vendor to complete a
portion of the work?
A. Cost reimbursable
B. Lump sum
C. Time and material
D. Fixed price
Re: Straightforward Question - Reasoning
Posted: Fri Dec 08, 2017 12:22 pm
Only options are between cost reimbursable and Time and Material.
Time and material normally (my understanding) works best when we are on a rush and it is for short period of time. Like a person doing the kitchen remodeling.
I will go with Time and Material of there were more information like 10 teams in 5 different countries etc and an option of CPIF I would have chosen that.