TYPES OF CONTRACTS IN PROCUREMENT and Project Management | PMP Exam Prep | Contract Management

Learn about the types of contracts in procurement in project management from this video. Types of contracts in procurement management is a very important topic for your PMP Exam and CAPM Exam preparation. In this video, we talk about the different types of contracts such as Firm Fixed Price (FFP), Fixed Price with Incentive Fee (FPIF), Fixed Price with Economic Price Adjustments (FPEPA), Cost Plus Percentage Cost (CPPC), Cost Plus Fixed Fee (CPFF), Cost Plus Award Fee (CPAF), Cost Plus Incentive Fee (CPIF), Time and Material Contract (T&M) and Indefinite Delivery Indefinite Quantity (IDIQ) contracts. Different contract types for procurement management as discussed in PMBOK 6th edition and PMBOK 7th edition is explained in this PMP Certification Exam tutorial video.

Link to download TYPES OF CONTRACTS STUDY GUIDE: https://drive.google.com/file/d/1bsxe...

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CHAPTERS:

0:00 Types of Contracts in Procurement - Introduction
0:46 Types of Procurement Contracts - Classification
2:00 Firm Fixed Price Contract (FFP Contract)
4:49 Cost Reimbuseable Contract (CR Contract)
7:29 Time and Material Contract (T&M COntract)
9:00 Types of Contracts - FPIF, FPEPA, CPPC, CPAF, CPIF, T&M, IDIQ
12:31 Contract Management in PMP Exam
14:20 PMP Exam Questions - Types of Contracts
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