The Fixed Price Contract _____

question 52

Multiple Choice

The fixed price contract _____.

• A) requires developing a clear scope of work based on good information, creating a list of highly qualified bidders, and developing a clear contract that reflects that scope of work
• B) will create lower total project costs than other forms of contracts when there are changes on the fixed price contract
• C) requires the availability of at least one or more suppliers that have the qualifications and performance history that assures the needs of the project can be met
• D) are not very effective in managing project costs.
• E) offers a predictable cost for commodities and goods and services where the scope of work is very uncertain and likely to change

Understand the basic requirements for attachment of a security interest to the debtor's goods.

Analyze the legal and practical reasoning behind the use of financing statements for perfecting security interests in specific types of collateral.

Understand the representations of measurements less than one in millimeters and their notation on technical drawings.

Comprehend the units of measure and the variety of dimensions (including fractional, decimal inches, and metric units) used in North American engineering drawings.

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Definitions:

Controlling

Function of evaluating an organization’s performance against its objectives.

Organizational Objectives

Organizational objectives are specific, measurable goals that an organization aims to achieve to fulfill its mission and drive success.

Motivating

The process of stimulating someone's interest or enthusiasm for doing something.

Directing

Guiding and motivating employees to accomplish organizational objectives.