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Practice PMI PMP®PMI PMP Practice ExamQuestion 18

Hard1 markMultiple Choice

Task 11: Plan and manage procurementProcessProcurement

PMP · Question 18 · Task 11: Plan and manage procurement

A project manager is conducting a procurement for a complex software component. The requirements are not fully defined and will likely evolve. Which contract type is MOST appropriate to share risk and allow for flexibility?

Answer options:

A.

Firm Fixed Price (FFP)

B.

Cost Plus Fixed Fee (CPFF)

C.

Time and Materials (T&M) with a Not-To-Exceed cap

D.

Fixed Price Incentive Fee (FPIF)

How to approach this question

Match Contract to Scope Stability. Unclear Scope = T&M or Cost Plus. Shared Risk/Flexibility = T&M.

Full Answer

C.Time and Materials (T&M) with a Not-To-Exceed cap✓ Correct

Time and Materials contracts are often used for agile/evolving scope projects. Adding a cap protects the budget.

Common mistakes

Choosing Fixed Price for unclear scope (recipe for change order disaster).

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