{"id":5239,"date":"2023-02-27T02:24:46","date_gmt":"2023-02-27T02:24:46","guid":{"rendered":"https:\/\/course.oeru.org\/ipm103\/?page_id=5239"},"modified":"2023-02-27T02:24:46","modified_gmt":"2023-02-27T02:24:46","slug":"contract-types","status":"publish","type":"page","link":"https:\/\/course.oeru.org\/ipm103\/learning-pathways\/procurement\/contract-types\/","title":{"rendered":"Contract types"},"content":{"rendered":"<div id=\"content\" class=\"mw-body container\" role=\"main\">\n<div class=\"row\">\n<div class=\"col-md-12\">\n<div class=\"panel\">\n<div class=\"panel-body\">\n<div id=\"bodyContent\">\n<div id=\"mw-content-text\" lang=\"en\" dir=\"ltr\" class=\"mw-content-ltr\"><div id=\"Reading\" class=\"panel iDevice\">\n\t<div class=\"panel-heading idevice-heading\">\n\t\t<div>\n\t\t\t<img decoding=\"async\" class=\"pedagogicalicon\" alt=\"reading\" src=\"https:\/\/course.oeru.org\/ipm103\/wp-content\/themes\/oeru_course\/idevices\/Icon_reading.png\">\n\t\t<\/div>\n\t\t<div>\n\t\t\t<h2>Reading<\/h2>\n\t\t<\/div>\n\t<\/div>\n\t<div class=\"panel-body\">\n\t\t<div class=\"col-md-12\">\n\t\t\t<\/p>\n<div class=\"thumb tright\">\n<div class=\"thumbinner thumbnail\" style=\"width:302px;\"><a href=\"https:\/\/wikieducator.org\/File:Calculator-money.jpg\" class=\"image\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"\/\/wikieducator.org\/images\/thumb\/0\/00\/Calculator-money.jpg\/300px-Calculator-money.jpg\" width=\"300\" height=\"200\" class=\"thumbimage img-responsive\"><\/a>  <\/p>\n<div class=\"thumbcaption\">Calculator<\/div>\n<\/div>\n<\/div>\n<p>Read the the section <i>Contract Types<\/i> in the prescribed textbook (<a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/opentextbc.ca\/projectmanagement\/Table-of-contents\/\">Web<\/a> | <a rel=\"nofollow\" class=\"external text\" href=\"https:\/\/opentextbc.ca\/projectmanagement\/open\/download?filename=Project-Management-1464292370&amp;type=pdf\">PDF<\/a>), Chapter 13 (page 120 to the top of 123 in the pdf version).\n<\/p>\n<p>This section describes the various types of contract for a project.\n<\/p>\n<ul>\n<li> <b>Fixed-Price Contracts<\/b> &#8211; a legal agreement between the project organisation and the contractor to provide goods or services at an agreed-on price (regardless of effort applied or delivery date)\n<\/li>\n<li> <b>Cost-Reimbursable Contracts<\/b> &#8211; a legal agreement where the project organisation agrees to pay the contractor for the cost of performing the service or providing the goods\n<\/li>\n<li> <b>Time and Materials Contracts<\/b> &#8211; a legal agreement where the contractor might charge an hourly rate for labour, plus the cost of materials, plus a percentage of the total costs.<br style=\"clear:both;\">\n<\/li>\n<\/ul>\n<p><b>WEnote post<\/b>\n<\/p>\n<p>Select a contract type outlined in the chapter and share at least one strength and one weakness of that type of contract. If you can, provide an example to support what you are saying. Post your comment below and then look on the <a href=\"\/ipm103\/interactions\/course-feed\" title=\"Introduction to project management\/IPM103\/Feed\">course feed page<\/a> to see what others have posted.<br \/>\nFor example:\n<\/p>\n<ul>\n<li> <i>&#8220;A key strength of Fixed-Price Contracts is &#8230;for examples a contract for&#8230;.&#8221;<\/i>\n<\/li>\n<li> <i>&#8220;A weakness of Cost-Reimbursable Contracts is &#8230; for example a contract for&#8230;.&#8221;<\/i>\n<\/li>\n<\/ul>\n<p><div><p>You must be logged in to post to WEnotes.<\/p><\/div><br \/>\n<i>Note: Your comment will be displayed in the <a href=\"\/ipm103\/interactions\/course-feed\" title=\"Introduction to project management\/IPM103\/Feed\">course feed<\/a>.<\/i><\/p>\n<p>\n<\/p>\n<p>\n\t\t<\/div>\n\t<\/div>\n<\/div><\/p>\n<p><!-- \nNewPP limit report\nCPU time usage: 0.042 seconds\nReal time usage: 0.049 seconds\nPreprocessor visited node count: 128\/1000000\nPreprocessor generated node count: 862\/1000000\nPost\u2010expand include size: 5524\/2097152 bytes\nTemplate argument size: 3511\/2097152 bytes\nHighest expansion depth: 7\/40\nExpensive parser function count: 0\/100\n--><\/p>\n<p><!-- Saved in parser cache with key we_en-mw_:pcache:idhash:178623-0!*!0!*!*!2!* and timestamp 20230226043128 and revision id 1017082\n -->\n<\/div>\n<div class=\"visualClear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<ul class=\"pager\">\n<li class=\"previous\">\n            <a href=\"\/ipm103\/learning-pathways\/procurement\/video-signpost\">\u2190 Previous<\/a>\n          <\/li>\n<li class=\"next\">\n            <a href=\"\/ipm103\/learning-pathways\/procurement\/contracts-quiz\">Next \u2192<\/a>\n          <\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div id=\"wenote-ids\"><script type='text\/javascript' id='wenotes-ids'>\n    var WEnotesSite = \"https:\/\/wikieducator.org\";\n    var WEnotesPath = \"\/Introduction_to_project_management\/IPM103\/Procurement\/Contract_types\";\n    var WEnotesSiteID = \"0e3d258fbd36841f92259eefcd41d5e9\";\n    var WEnotesPathID = \"7e28e226554519661a62a0e8a9ab057c\";\n    var WEnotesIDs = { site: \"https:\/\/wikieducator.org\", path: \"\/Introduction_to_project_management\/IPM103\/Procurement\/Contract_types\", site_id: \"0e3d258fbd36841f92259eefcd41d5e9\", path_id: \"7e28e226554519661a62a0e8a9ab057c\" };\n<\/script><\/div>\n<\/div>\n<footer><\/footer>\n","protected":false},"excerpt":{"rendered":"<p>\u2190 Previous Next \u2192<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":5233,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5239","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/pages\/5239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/comments?post=5239"}],"version-history":[{"count":1,"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/pages\/5239\/revisions"}],"predecessor-version":[{"id":5240,"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/pages\/5239\/revisions\/5240"}],"up":[{"embeddable":true,"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/pages\/5233"}],"wp:attachment":[{"href":"https:\/\/course.oeru.org\/ipm103\/wp-json\/wp\/v2\/media?parent=5239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}