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?
- Fixed-Price Contract
- Correct: The contractor provides goods or services at an agreed-on price (regardless of effort applied or delivery date).
- Cost-Reimbursable Contract
- Time and Materials Contract
- 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?
- Fixed-Price Contract
- Cost-Reimbursable Contract
- 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.
- 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
- Cost-Reimbursable Contract
- Correct: The contractor is paid for the cost of performing the service or providing the goods.
- Time and Materials Contract
