Скачать или смотреть PMBOK® Guide :Procurement Management Comparing Different Contract Types

This video starts with four primary parameters to compare 3 different types of Contracts.
1. Type of work
2. Role of PM
3. Cost Risk
4. Flexibility to Change
Type of Work - In case of Fixed-Price Contract, there is a fair amount of clarity in the scope of work.
You can only commit for a fixed-price when you really have an idea of scope. Apart from the scope of work, Known Hows are also pretty much clear, so that the buyer and seller can reach to the commitment of cost. In this, there is a low variability in the type of work.
Example of this contract type is construction, engineering, Holiday packages and infrastructure projects.
In Cost-Reimbursable type the amount of work is abstract. In this contract type, the idea of the buyer is not to get something in bare minimum cost but to get the goal achieved even if the direction changes in between multiple times. The goal is more focused on creating that value. So the variability is quite high.
In Time & Material this there is a Moderate variability in the type of work. You know the number of workers, their skillset and for what duration they are required
Role of Project Manager varies with the type of Contract between performing organization and buyer organization. If you are managing a fixed-price contract, you are in an extremely accountable position. You need to ensure that the project goes within cost & Time. Sponsor focus is on the cost of the project whereas the customer focus is getting maximum out of it. You need to balance between your sponsor and customer.
In a cost-reimbursable contract type, the focus of a project manager is to keep the buyer informed. So transparency is required. In this type, the buyer is primarily responsible for managing the project. As a seller you keep giving options, all the decisions are taken by buyer.
In Time & Material project manager focus is on productivity. Work of resources is closely monitored as hours allocated reach their limit.
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Trends include Advances in tools, more advanced risk management, Changing contracting processes, Logistics and supply chain management, Technology and stakeholder relations and Trial engagements
There has been a significant improvement in the development of tools to manage the procurement. Online tools for procurement now give the buyers a single point where procurements can be advertised and provide sellers, a single platform and complete the same directly online. Our video on “TRENDS AND EMERGING PRACTICES in procurement management” talk about it in details.

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The Project Management Professional (PMP), PMBOK, The Agile Certified Practitioner (PMI-ACP), and The Professional in Business Analysis (PMI-PBA) is a registered mark of the Project Management Institute, Inc.
PMBOK is a registered mark of the Project Management Institute, Inc.

Materials in this video are based on the text, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute Inc., 2017.

The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.