Multiple Choice
With a Firm Fixed Price Contract (FFP)
A) the customer assumes the risk of cost overruns
B) the price to the customer remains the same
C) the contractor is assured of being reimbursed for all allowable expenses
D) contractor risks underestimating the cost and losing money on the project
E) cutting-corners to reduce costs is a potential risk
Correct Answer:
Verified
Correct Answer:
Verified
Q10: In a Fixed Price Incentive Fee Contract
Q11: "Procured items" include which of the following
Q12: Multiple sourcing means<br>A) multiple qualified bidders will
Q13: Procurement management addresses everything associated with (circle
Q14: Contract administration is responsible for<br>A) determining which
Q16: Which of the following contracts is most
Q17: The purpose of contract negotiation is to
Q18: Procurement management can involve which if the
Q19: During the negotiation process, the project manager<br>A)
Q20: Statement: With a Cost Plus Incentive Fee