Saturday, December 5, 2009

What is Fixed Price?

What is Fixed Price?
  • It is also called Lump Sum, Firm Fixed Price
  • Is one price that is agreed upon for all the work.
  • Has least cost risk for buyer if he has a completely defined scope.
  • Is most appropriate when the buyer can completely describe the contract statement of work

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Recommended Books on PMP

Suggested Study Materials

  • PMP-Preparation Recommended Books
  • PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam
  • A Guide to the Project Management Body of Knowledge, Third Edition (PMBOK Guides)
  • The PMP Exam: How to Pass On Your First Try (Test Prep series)