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

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At Praizion Media, our goal is to significantly enhance core competency in project management and equip participants with the necessary tools and skills to hit--the-ground-running in their project work. We are committed to providing clear understanding of the PMBOK® Guide, project management, project management tools, techniques and concepts to participants worldwide. With a mind-set of quality and excellence, we strive to:
• Uphold the project management methodology advocated by the Project Management Institute (PMI®).
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• Provide PMP® candidates with a mechanism to gauge understanding and preparedness for the PMP® exam.
• Reinforce project management sensibility through targetted learning instruction.

[@StephanieDeMeritt]

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

[@Praizion]

Wow, thanks Stephanie! Cheers!

[@yolandantalavane9165]

It does makes sense now...much appreciated

[@kennethnyongesa4423]

Best introductory lecture on Types of Contracts

[@matthewbellamy9251]

Great work. Very clear and precisely dictated

[@ianpatrick23]

Thank you so much for the contract explanations!

[@ihabyousif8776]

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

[@adhanetmebrahtu132]

Very clear explanation,thanks always

[@vignesh04071982]

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

[@Praizion]

Thank you!

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

[@Praizion]

Thank you :-) Best wishes!

[@mohannadal-ghabban2424]

You saved my life!

[@Prophetesselishaburgess]

Thank you for Simplifying These👏🏽👏🏽

[@Praizion]

Thanks. Glad you found it useful.

[@zephaniahstephens5312]

Doing mock testing this was helpful

[@GISSELLEhd]

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

[@Praizion]

Glad it was helpful! Thanks!

[@r.jenkins5982]

Thank you! Makes so much sense now!

[@Praizion]

YW! Best wishes on your test.

[@MichaelAlexander1967]

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

[@Praizion]

Thank you!

[@seetharamdandamudi2127]

Awesome explanation

[@emekaodikanekwu8769]

lovely presentation

[@maryruemuchayamuchaya1059]

well explained ... thank you

[@sisterstaketoo1981]

Very helpful thank you!

[@ngoanhuynh4042]

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

[@hafeezmohammed846]

Simplified, just as it says. thank you

[@Praizion]

You're welcome!

[@katrinaaliviza457]

This video just saved my life. Thank you sir

[@Praizion]

You're welcome!

[@robmarino314]

Thanks Phil from San Diego!

[@Praizion]

Thanks Robert

[@hassanamin1385]

wow.. amazing..

[@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

[@surbhimantri1]

Thanks!!

[@abdelkrimaguenini4501]

Excellent video !!!

[@Praizion]

Thank you! @Abdelkrim

[@MohammadAli-on7un]

Good introduction

[@laithmomani9779]

Super !

[@Peterstevoli]

great video many thanks

[@Praizion]

You are welcome!

[@mohannadal-ghabban2424]

Great stuff!

[@Praizion]

Thank you Mohannad.

[@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!

[@hadeelkakish6983]

Very useful 👍🏼

[@Praizion]

Glad you think so! Thanks!

[@babycentral1663]

Thank you awesome video !

[@Praizion]

Thank you!

[@kalikuwakadakwiza4274]

Good video

[@Praizion]

Thanks for the visit

[@daniellemessa4821]

❤❤❤❤❤❤❤❤

[@Praizion]

Thanks for the love brother!

[@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.

[@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.

[@visualsbymel2476]

What about FPAF? Fixed price award fee?

[@Praizion]

That is not recognized in the 6th edition.

[@sylvanusbrowne3771]

Hi please can you help me with procurement material

[@Praizion]

Hey buddy! Check these out: kzbin.info?search_query=praizion+procurement

[@dustinreinbott8970]

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