# When is an Fixed Price with Economic Price Adjustment Contract Used?

Fixed Price with Economic Price Adjustment Contract Explained Fixed Price with Economic Price Adjustment Contract is a variation of the basic Fixed Price Contract (FP). In some of my previous articles, I have explained all the other variations of FP Contracts (as enumerated in PMBOK® Guide). In this article, I will talk about Fixed Price […]

# How to Remember Point of Total Assumption Formula?

Point of Total Assumption Formula in Fixed Price Incentive Fee Contract How do you remember any formula? Simple! Understand the concept you will not need to remember the formula. I heard about Point of Total Assumption when I was preparing for PMP® Exam. At the beginning, it sounded very funny. One of the meanings of […]

# 6 Main Formulas of a FPIF Contract

Incentive Calculation in a FPIF Contract In my previous post, I described Fixed Price Incentive Fee Contract (FPIF). In this article, I will discuss the formulas and incentive calculations for an FPIF Contract. Let me summarize the basic nature of the contract before getting into formulas and calculations. The basic nature of a FPIF Contract […]

# What is a Fixed Price Incentive Fee Contract?

Fixed Price Incentive Fee Contract Explained PMBOK® Guide defines 3 different types of Fixed Price (FP) Contract. I have written about Firm Fixed Priced Contract (FFP) and Fixed Price with Economic Price Adjustment Contract (FP-EPA) in other posts. In this post, I will talk about Fixed Price Incentive Fee (FPIF) Contract. You should also read the […]

# What is a Firm Fixed Price Contract?

Firm Fixed Price Contract Explained I have written a number of articles on different types of contracts. In some of my previous articles I have explained Fixed Price (FP) Contract. In this post, let me describe Firm Fixed Price (FFP) Contract. Even though FFP Contract is one of the sub-types of FP Contract but it is […]

# PMP Formulas Behind Contract Types

Mathematical Orientation of Contract Types Procurement Management Knowledge Area of PMBOK® Guide defines 3 different Contract Types. I have already written two articles to explain these Contract Types. I have written this article to provide a completely different perspective to the Contract Types. This article discusses mathematics and formulas behind different Contract Types. The article […]

# Contract Types for PMP Exam

3 Different Contract Types for PMP Exam Have you studied and understood Contract Types for PMP Exam? You can expect a few questions on Contract Types for PMP Exam. The questions on Contract Types for PMP Exam are relatively easy to answer. You should have a compete understanding of the Contract Types. PMBOK® Guide describes […]

# 5 Differences Between Project Charter and Contract

Project Charter Definition, Meaning and Purpose A few years ago, I got an assignment to setup PMO for a small software services company. After understanding their business and organization structure, I advised them to start creating Project Charter (PC) for every project. I provided a brief overview of PC to the main stakeholders and gave […]

# What are different Types of Contract?

Types of Contract – Example and Explanation Procurement Management is considered as a difficult topic for the PMP® Exam. However, in my opinion, Procurement Management is one of the easier topics for the PMP® Exam. So, Why do PMP® Aspirants find Procurement Management difficult? I believe this is due to lack of experience in Procurement […]

# Procurement – Some practical aspects

In my previous post I gave a brief on Procurement and Risk. I deliberated upon who (buyer or the seller) has more/less risk in contract types. The post was written to help PMP aspirants answer some tricky questions reared to Risk and Procurement in the exam. The post can be read by following the below […]

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