PMP Exam CONTRACT Types SIMPLIFIED - FP, CR, T&M (PMBOK Guide)

[@StephanieDeMeritt]

Best explanation of the contract types I've seen anywhere. Thank you!

[@Praizion]

Wow, thanks Stephanie! Cheers!

[@kennethnyongesa4423]

Best introductory lecture on Types of Contracts

[@ihabyousif8776]

Always I love watching your lectures , you're brilliant at teaching .Big love from Iraq 🇮🇶 Bro

[@davidt.3860]

Thank you for the video! I'm still relatively new in my project management degree program, so it is nice to watch these video in order to simplify the concepts of the PMBOK.

[@Praizion]

Glad it was helpful! Best wishes.

[@themaskedbabygirl]

Iam currently going through the same degree program. Please get in touch so we may share knowledge

[@vignesh04071982]

Thank you Phil for explaining these topics in a very simple way before going in depth..

[@Praizion]

Thank you!

[@katrinaaliviza457]

This video just saved my life. Thank you sir

[@Praizion]

You're welcome!

[@MichaelAlexander1967]

Very well explained! Thank you so much for posting. Your explanations and examples are very straight forward and logical.

[@Praizion]

Thank you!

[@matthewbellamy9251]

Great work. Very clear and precisely dictated

[@adhanetmebrahtu132]

Very clear explanation,thanks always

[@dustinreinbott8970]

Very good and funny videos bring a great sense of entertainment!

[@yolandantalavane9165]

It does makes sense now...much appreciated

[@emekaodikanekwu8769]

lovely presentation

[@onlinesaidasa9105]

Namaste
Types of Fixed Fee (Lump Sum) contracts
1. Fixed Price Incentive Fee (FPIF):
This includes performance based variable incentives
2. Fixed Price Award Fee (FPAF):
In this an additional fixed award fee is provided if seller exceeds expectation
3. Fixed Price Economic Price Adjustments (FPEPA):
In this , any change in economic conditions would lead to price adjustment
Thanks

[@Praizion]

Thank you!

[@ianpatrick23]

Thank you so much for the contract explanations!

[@hafeezmohammed846]

Simplified, just as it says. thank you

[@Praizion]

You're welcome!

[@GISSELLEhd]

This is a great video, clear, sweet and to the point.

[@Praizion]

Glad it was helpful! Thanks!

[@zephaniahstephens5312]

Doing mock testing this was helpful

Thank you! I L-O-V-E this video! So informative and straight to the point. Bravo.

[@Praizion]

Thank you :-) Best wishes!

[@sisterstaketoo1981]

Very helpful thank you!

[@Peterstevoli]

great video many thanks

[@Praizion]

You are welcome!

[@Prophetesselishaburgess]

Thank you for Simplifying These👏🏽👏🏽

[@Praizion]

Thanks. Glad you found it useful.

[@MohammadAli-on7un]

Good introduction

[@mohannadal-ghabban2424]

You saved my life!

[@surbhimantri1]

Thanks!!

[@digitalbobby42]

Thanks Phil from San Diego!

[@Praizion]

Thanks Robert

[@seetharamdandamudi2127]

Awesome explanation

[@hadeelkakish6983]

Very useful 👍🏼

[@Praizion]

Glad you think so! Thanks!

[@maryruemuchayamuchaya1059]

well explained ... thank you

[@r.jenkins5982]

Thank you! Makes so much sense now!

[@Praizion]

YW! Best wishes on your test.

[@kalikuwakadakwiza4274]

Good video

[@Praizion]

Thanks for the visit

[@daniellemessa4821]

❤❤❤❤❤❤❤❤

[@Praizion]

Thanks for the love brother!

[@hassanamin1385]

wow.. amazing..

[@abdelkrimaguenini4501]

Excellent video !!!

[@Praizion]

Thank you! @Abdelkrim

[@anthonyoseh3440]

Is there anything like contract variation?

[@Praizion]

Yes there is in the general sense although we may not use this exact term. It comes under Control Procurements. Any change in a contract must be made through formal, written and legally binding variation. Some examples of variations to the contract are: Changing the settlement date to allow for early settlement OR Changing the settlement date to allow for later settlement.

[@mohannadal-ghabban2424]

Great stuff!

[@Praizion]

Thank you Mohannad.

[@sylvanusbrowne3771]

Hi please can you help me with procurement material

[@Praizion]

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[@laithmomani9779]

Super !

[@olivealex8492]

Hi guys, would anyone know what are BID REQUEST TOOLS, and how they are used for different types of vendor?
I need this for my college project and I've been looking all over for this info, going crazy...

[@Praizion]

Probably this is a RFB or something similar. Best wishes.

[@visualsbymel2476]

What about FPAF? Fixed price award fee?

[@Praizion]

That is not recognized in the 6th edition.

[@babycentral1663]

Thank you awesome video !

[@Praizion]

Thank you!

[@ngoanhuynh4042]

Very good and funny videos bring a great sense of entertainment!