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Project Management Strategies

   

Added on  2019-10-18

5 Pages934 Words129 ViewsType: 129
Leadership Management
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Project ManagementStudent Name:Coursework:University:
Project Management Strategies_1

a.The contract is used in the project which is made between the ABC event management agency and international council of management research. The contract is organized the event for the University of Arizona for three days. It is the terminated contract. The ABC event management company will arrange the event and responsible for the successful event within the particular period of time.1.It is the terminated contract in which the objectives of the project are inbuilt which includes SMART objectives from targeting the population till the implementation of the project plan. The contact includes successful completion of the project by fulfilling the objectives of the project. 2.The contract does not include modification or changes in the project according to the circumstances and contract is negotiated by paying the amount through one staff member to save multiple handling for the successful completion of the project. 3.The project includes various types of contracts such as lump sum amount of contract which is a fixed price of the contract in which various contracts included such as fixed price incentive fee, fixed price award fee, fixed price economic adjustment and others. The cost reimbursement contract is used in project management in which various contracts included such as cost plus fee, cost plus fixed fee, cost plus incentive fee and cost plus award fee. The unit price contract in which price is given according to the time period. The fixed price contracts are highly preferable because the amount is paid in lump sum and high risk is bounded by the seller. The cost reimbursement contract is preferable in which the cost of the project is high, and it will be reimbursed at the termination of the project. The time contract is least
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