41) Q0 Um HUMu 42) Q0 Um \\ir'VlVU'nr' You havejust entered a major project review. There is a lot of excitement in the room, and it is not good. They are discussing that the project has almost reached the pointof total assumption. You realize they are discussing what type of contract? firm fixed price fixed price incentive cost plus incentive cost plus fixed fee You are an independent contractor working to support a large customer headquartered in Montreal with a large manufacturing facility in Toronto. You rotate your time, traveling back and forth from Montreal to Toronto every other week. Due to a major blizzard, you are unable to get to the manufacturing facility for several days. Your failure to be in Toronto is allowed as the storm is considered a temporary excuse for non-performance. Another name for this clause in the contract is: privity force majeure consideration enterprise environmental factor On what contract type does the buyer typically have the lowest cost risk? Time and materials Cost plus percentage of cost Cost plus fixed fee Fixed price A contract change control system is normally part of what process? plan procurements administer procurements conduct procurements close procurements Your procurement manager is contrasting xed price to cost reimbursable contracts. She states the following general comments about cost reimbursable contracts compared to xed price contracts. Everything she states is true except: the procurement statement of work does not need to be as detailed in a cost reimbursable contract the price for the cost reimbursable is often lower than for a fixed price the buyer has less work to do as far as auditing the seller's invoices on a cost reimbursable contract the seller has less risk on a cost reimbursable contract You are working under a large Fixed Price Incentive Contract. The pricing for the contract is: target cost: $100,000 target prot: $ 10,000 target price $110,000 share ratio 80l20 Price ceiling $125, 000. The Point of total assumption for this contract is? $ 110.000 $ 118,750 $ 120,000 $ 125,000