PMP Certification Prep Flashcards

Card Set Information

Author:
alvincolon
ID:
246007
Filename:
PMP Certification Prep Flashcards
Updated:
2013-11-11 11:36:32
Tags:
PROCUREMENT MANAGEMENT
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Description:
TYPES OF CONTRACTS
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The flashcards below were created by user alvincolon on FreezingBlue Flashcards. What would you like to do?


  1. FIXED PRICE
    SELLER BEARS ALL RISK
  2. FFP
    FIRM FIXED PRICE (MOST COMMON, SELLER COVERS ANY COST INCREASE,)
  3. FPIF
    FIXED PRICE PLUS INCENTIVE FEE (INCLUDES ANY EXTRA PERFORMANCE BONUS)
  4. FP-EPA
    FIXED PRICE WITH ECONOMIC PRICE ADJUSTMENT (USED ON LONG TERM PROJECTS, BUYER COVERS INFLATION COST); COST-PLUS (BUYER ASSUMES SOME RISK)
  5. CPPC
    COST PLUS PERCENTAGE OF COST (SELLER REIMBURSED FOR COST, PLUS A % COMMISSION)
  6. CPFF
    COST PLUS FIXED FEE (SELLER REIMBURSED FOR COST, PLUS A FIXED $ COMMISSION)
  7. CPIF
    COST PLUS INCENTIVE FEE (SELLER REIMBURSED FOR COST, PLUS AN EXTRA PERFORMANCE BONUS)
  8. CPAF
    COST PLUS AWARD FEE (SELLER REIMBURSED FOR COST, PLUA AN EXTRA PERFORMANCE BONUS)
  9. T&M
    TIME AND MATERIALS (HYBRID, MODERATE RISK TO BUYER, OFTEN USED FOR STAFF AUGMENTATION AND CONSULTANTS)

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