- Why are contracts necessary when conducting procurements and what do they represent? Discuss the major types of procurement contracts. Is there any situation where you would not use a contract for procuring goods or services – please explain why or why not? Is a verbal agreement or a handshake considered a valid contract? Please include a minimum of one resource in addition to your required or optional reading/viewing resources.
- Describe Time and Material contracts – please discuss any variations of these. When would you use this type of contract? Who bears the most risk in this contract type – the ‘buyer’ or the ‘seller?’ Provide an example from your experience, from your research, or create a scenario to illustrate. Please include a minimum of two resources in addition to your required or optional reading/viewing resources.
itpm
600 words
3- citation references
0 comments