PMBOK® Guide :Procurement Management Comparing Different Contract Types

[@manjumuscat]

Saketji , you are absolutely phenomenal

[@izenbridge]

Hi Manjunath, Thanks for exploring our content. Good to know that you found our content helpful. You can explore our complete content of PMP (Project Management Professional) Based on PMBOK6 here: www.izenbridge.com/pmp/online-course/

[@gunnardavid8427]

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[@raydencurtis249]

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[@WafaPRO]

Hello, did u upload an explanation for delivery methods ??

[@izenbridge]

Thank you!! Adel, for exploring our content. Yes, we have uploaded very few PMP videos on youtube. To explore 100% content you can enroll with us to our online PMP program Based on PMBOK6 here: www.izenbridge.com/pmp/online-course/

[@balkeesbannoura1391]

you are amazing but I am little confused about role of PM are you talking about PM from the buyer side or seller side ??? because I understand from the video he is from seller side while PMBOK discuss this knowledge area as the PM from buyer side . advice please . Thanks in advance

[@izenbridge]

Thank you!! Balkees, for exploring and liking our content. In all the projects with procurement involved, there are 2 Project managers, from both buyer and seller's side. So the video covers the content related to both the project managers. While answering questions related to Procurement Management, the Project Manager is always from the buyer's side unless it is explicitly mentioned in the question.

[@bazar_historias_peludas]

Thank you!

[@izenbridge]

You are welcome!! Keep exploring iZenBridge KZbin Channel.

[@hamzanasir938]

on a fixed price contract why dose the project manager need to worry about cost ?

[@izenbridge]

Thank you Nasir, for exploring our content Project Manager has the responsibility to ensures to keep things as per the plan. They have the responsibility to keep monitoring to take care of variances to the minimum. Otherwise, in fixed cost huge variances can impact the planned fixed cost. Also, during planning project team takes a lot of assumptions, if those assumptions go wrong, ion that case it can impact the cost. Project Manager needs to validate assumptions, and if there is a risk of going assumptions wrong, he.she needs a response plan for the same. You can explore our complete content of PMP (Project Management Professional) Based on PMBOK6 here: www.izenbridge.com/pmp/online-course/

[@nikholic]

Cost and Felxibility does not appear in the video, Please upload the full video

[@izenbridge]

Hi Monk, Thanks for exploring our content. We have uploaded very few videos on our KZbin. You can explore our complete content of PMP (Project Management Professional) Based on PMBOK6 here: www.izenbridge.com/pmp/online-course/

[@hamzanasir938]

cost reimbursable contract would be a type of contract that the seller is reembernesed for legitimate cost an a predefined fee although this type of contract is more flexible it adds cost to the buyer and is generally used when scope is not well defined and in contrast is less risk for the seller . fixed price contract in comparison has less cost-risk to the buyer and more cost-risk to the seller and is only done when scope is known . There are different types of cost and fixed contract that have more flexibility I suggest you go to www.izenbridge.com

[@sangeetamisra2816]

Given both address resource constraints, how does one decide if to use critical chain method or resource leveling ?