A third party needs to perform a short-term task for which the duration cannot be accurately estimated and the cost cannot be calculated in advance. Which of the following should the project manager…

The correct answer is A. Time and materials contract. A time and materials contract is a type of contract where the contractor is paid for the time they spend working on the project and the materials they use. This type of contract is often used for short-term projects where the duration and cost cannot be accurately estimated in…

Project Management Concepts

Question

A third party needs to perform a short-term task for which the duration cannot be accurately estimated and the cost cannot be calculated in advance. Which of the following should the project manager put in place before work begins?

Options

ATime and materials contract
BMaster service agreement
CFixed-price contract
DStatement of work
ECost-plus agreement

How the community answered

(55 responses)

A
71% (39)
B
16% (9)
C
7% (4)
D
2% (1)
E
4% (2)

Explanation

A time and materials contract is a type of contract where the contractor is paid for the time they spend working on the project and the materials they use. This type of contract is often used for short-term projects where the duration and cost cannot be accurately estimated in advance.

Topics

#Contract Types#Procurement Management#Time and Materials#Project Planning

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