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
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)
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