Complete the following:

Select three types of contracts that might be used in procuring your product. In other words, list three contract types that a project manager might use in this situation. Provide a concise summary of the benefits of each.

Analyze the implications of each of three types of contracts for your procurement. If you were to proceed with this procurement project, what would be the benefits and drawbacks of each?

Explain the type of contract you would use for the product specifications identified. Defend your decision by predicting how it would benefit your situation.

Describe the four basic required sections in the contract.