Typical Critical Issues in Lump Sum (Fixed Price) Payment Contracts

Description

This Skill Bit covers common challenges in fixed-price agreements, including unclear scope, scope creep, inaccurate cost estimates, and insufficient risk or change management. It explores strategies for overcoming these issues, such as thorough project planning, clear communication, and proactive risk mitigation. The course focuses on best practices to ensure successful project delivery while maintaining the agreed-upon budget and timeline.

Duration approx. 4 Min.

Tier: proficiency