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

[@StephanieDeMeritt]

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

[@Praizion]

Wow, thanks Stephanie! Cheers!

[@kennethnyongesa4423]

Best introductory lecture on Types of Contracts

[@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

[@ihabyousif8776]

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

[@katrinaaliviza457]

This video just saved my life. Thank you sir

[@Praizion]

You're welcome!

[@vignesh04071982]

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

[@Praizion]

Thank you!

[@adhanetmebrahtu132]

Very clear explanation,thanks always

[@emekaodikanekwu8769]

lovely presentation

[@ngoanhuynh4042]

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

[@matthewbellamy9251]

Great work. Very clear and precisely dictated

[@yolandantalavane9165]

It does makes sense now...much appreciated

[@Peterstevoli]

great video many thanks

[@Praizion]

You are welcome!

[@MichaelAlexander1967]

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

[@Praizion]

Thank you!

[@hafeezmohammed846]

Simplified, just as it says. thank you

[@Praizion]

You're welcome!

[@ianpatrick23]

Thank you so much for the contract explanations!

[@zephaniahstephens5312]

Doing mock testing this was helpful

[@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!

[@GISSELLEhd]

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

[@Praizion]

Glad it was helpful! Thanks!

[@surbhimantri1]

Thanks!!

[@sisterstaketoo1981]

Very helpful thank you!

[@hadeelkakish6983]

Very useful 👍🏼

[@Praizion]

Glad you think so! Thanks!

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

[@Praizion]

Thank you :-) Best wishes!

[@MohammadAli-on7un]

Good introduction

[@kalikuwakadakwiza4274]

Good video

[@Praizion]

Thanks for the visit

[@mohannadal-ghabban2424]

You saved my life!

[@abdelkrimaguenini4501]

Excellent video !!!

[@Praizion]

Thank you! @Abdelkrim

[@hassanamin1385]

wow.. amazing..

[@r.jenkins5982]

Thank you! Makes so much sense now!

[@Praizion]

YW! Best wishes on your test.

[@seetharamdandamudi2127]

Awesome explanation

[@digitalbobby42]

Thanks Phil from San Diego!

[@Praizion]

Thanks Robert

[@maryruemuchayamuchaya1059]

well explained ... thank you

[@Prophetesselishaburgess]

Thank you for Simplifying These👏🏽👏🏽

[@Praizion]

Thanks. Glad you found it useful.

[@mohannadal-ghabban2424]

Great stuff!

[@Praizion]

Thank you Mohannad.

[@adaodesheyi7774]

thanks a lot. Theres this company my husband does maintenance for. They only pay 100% after my husband is done with the job. What contract type is this?

[@laithmomani9779]

Super !

[@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.

[@sylvanusbrowne3771]

Hi please can you help me with procurement material

[@Praizion]

Hey buddy! Check these out: th-cam.com/users/results?search_query=praizion+procurement

[@visualsbymel2476]

What about FPAF? Fixed price award fee?

[@Praizion]

That is not recognized in the 6th edition.

[@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.

[@babycentral1663]

Thank you awesome video !

[@Praizion]

Thank you!

[@daniellemessa4821]

❤❤❤❤❤❤❤❤

[@Praizion]

Thanks for the love brother!

[@dustinreinbott8970]

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