A Practice Guideline of Lump Sum (Fixed Price) Payment Contracts

Description

This Skill Bit provides essential strategies for managing lump sum contracts effectively. It emphasizes meticulous planning, including accurate scope definition, cost estimation, and risk assessment. The course also highlights the importance of clear contractual terms, robust change management, ongoing monitoring, quality control, and effective communication throughout the project. Successful execution relies on proactive planning and strong collaboration between all involved parties.

Duration approx. 5 Min.

Tier: proficiency