Introduction to project management/IPM103/Procurement/Contracts quiz
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Quiz
Test out what you have learnt in this fun quiz.
Which of the following contract types is most appropriate for a project whose scope is very clear and unlikely to change?
Time and Materials Contract
Incorrect
: Try again
Cost-Reimbursable Contract
Incorrect
: Try again
Fixed-Price Contract
Correct
: The contractor provides goods or services at an agreed-on price (regardless of effort applied or delivery date).
Which of the following contract types is most appropriate for a project that features high uncertainty and is likely to require numerous adjustments as more information is available?
Time and Materials Contract
Correct
: The contractor charges an hourly rate for labour, plus the cost of materials, plus a percentage of the total costs.
Cost-Reimbursable Contract
Incorrect
: Try again
Fixed-Price Contract
Incorrect
: Try again
Which of the following contract types is most appropriate for a project whose scope and costs for performing the work are not well known?
Fixed-Price Contract
Incorrect
: Try again
Cost-Reimbursable Contract
Correct
: The contractor is paid for the cost of performing the service or providing the goods.
Time and Materials Contract
Incorrect
: Try again
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