Overview of Lump Sum (Fixed Price) Payment Contracts

This Skill Bit shows that managing lump sum contracts requires meticulous planning and control. Key areas include scope definition, cost control, schedule adherence, quality assurance, and clear communication. Effective management ensures project success within budget, schedule, and quality expectations.

Duration approx. 4 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.