Understanding the Progress Payments Contracts

This Skill Bit delves into the intricacies of progress payment contracts, which connect payments to specific project milestones. Successful implementation of these contracts demands meticulous cost tracking, robust risk management, and clear communication between all parties involved. Additionally, effective change management is essential to adapt to project developments and ensure that timelines and budgets are met.

Duration approx. 4 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.