Review the contract types below and construct three hypothetical project procurement scenarios from any three generic procurement categories as a group. These could include a services project, a construction project, a government project, a research and development project, an outsourcing project, or a “Commercial Off-the Shelf” (COTS) type project. The hypothetical scenario may be from any industry, but you should explain the scenario in a full paragraph. Then, from among the choices below, decide which contract type would best suit each scenario. Explain the rationale supporting your analysis. Also assess the level of risk accruing to the buyer and the seller with each of the contract types you recommend.
- Time and materials
The deliverable for this assignment is a paper with three procurement scenarios. The paper will include a description of contract selection methodology, risk distribution discussion, and the project manager’s role.
- APA 7
- At least 5 pages
- At least 3 references