For Fixed Price Contracts, Rita's Book does not consider FFP as a contracts type and they add another type which is FPAF and for Cost Plus Contracts, it adds CPPC.
Basically you can use any type of contract depending on the project and requirements and of course PMBOK is the top reference.
I would like to have your expert comments on the above. Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Jan 25, 2016 5:06 AM
Replying to Markus Kopko
...
exactly Rami, i hated "procurment mgmt" ... i hated it ... but i loved risk mgmt, for instance ... ;)
It can be hectic because there are lots and lots of details but if you have large projects procurement experience, you will find it piece of cake but still lots and lots of work to do in real life in procurement especially if there are lots of BUY decisions and there are multiple S/C. Saving Changes...
Ramesh ChalamalasettiPMI ATP Instructor – PMP®| PMI Certified Instructor - PMP Exam Prep®Hyderabad, Andhra Pradesh, India
Yes, as our peers visualized we have broadly 2 types (not 3)of procurement contract styles - Fixed & Cost plus.T&M is an alloy of these two. Many of the PM core concepts are decorated with jargons or hyper sensitive abbreviations. In my view, its fair enough to practice based on full forms rather on abbreviated versions. For me, PMBOK is the base line and pretty bench marked resource to bank on.
I don't think it's good to use reactive words like 'hate' for any dam reason. All KAs put together make the holistic picture. And we need to deliver holistically not in parts.
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1 reply by Rami Kaibni
Jan 26, 2016 3:10 AM
Rami Kaibni
...
Ramesh,
Markus was expressing his personal opinion about a subject he found difficult and I am pretty sure he knows how to handle Project Management properly as he is a very professional individual and please consider language barrier here.
On the other hand, with all respect to you, I do not consider the word "Dam" appropriate here on this professional community.
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Jan 26, 2016 1:12 AM
Replying to Ramesh Chalamalasetti
...
Yes, as our peers visualized we have broadly 2 types (not 3)of procurement contract styles - Fixed & Cost plus.T&M is an alloy of these two. Many of the PM core concepts are decorated with jargons or hyper sensitive abbreviations. In my view, its fair enough to practice based on full forms rather on abbreviated versions. For me, PMBOK is the base line and pretty bench marked resource to bank on.
I don't think it's good to use reactive words like 'hate' for any dam reason. All KAs put together make the holistic picture. And we need to deliver holistically not in parts.
Ramesh,
Markus was expressing his personal opinion about a subject he found difficult and I am pretty sure he knows how to handle Project Management properly as he is a very professional individual and please consider language barrier here.
On the other hand, with all respect to you, I do not consider the word "Dam" appropriate here on this professional community.
...
1 reply by Ramesh Chalamalasetti
Jan 26, 2016 5:09 AM
Ramesh Chalamalasetti
...
Thanks for correcting me Rami - there's nothing like personal here. I just keep learning through :)
Saving Changes...
Markus KopkoAI Enabler for Project & Program Mgmt | Founder PMotion.ai / The PM
AI Coach| PMotion.aiHamburg, Hamburg, Germany
Hi Rami,
hi Ramesh,
@Rami, thx for defending me ... ;)
@Ramesh:
I do apologyze, may be the words "didn't like it" would have be better.
To say " i hated ...." is a usual phrase in german language to express if we didn't like something.
I am sorry if i harmed you in any way.
And yes, of course i know to handle such things and i had a lot of procurement questions in my exam and so i am glad that i was well prepard for that.
In real life we have a special depertmant whcih handles the procurements in general and i am glad about it.
And i have also written that i loved risk mgmt and i also loved stakeholder mgmt and in fact most other KA's also ... but i am sure that you do have also your preferences in project management, right?
However,
no regrets.
Markus
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1 reply by Ramesh Chalamalasetti
Jan 26, 2016 5:10 AM
Ramesh Chalamalasetti
...
Highly regard your bold gestures Markus ! Thanks many !
Saving Changes...
Ramesh ChalamalasettiPMI ATP Instructor – PMP®| PMI Certified Instructor - PMP Exam Prep®Hyderabad, Andhra Pradesh, India
Jan 26, 2016 3:10 AM
Replying to Rami Kaibni
...
Ramesh,
Markus was expressing his personal opinion about a subject he found difficult and I am pretty sure he knows how to handle Project Management properly as he is a very professional individual and please consider language barrier here.
On the other hand, with all respect to you, I do not consider the word "Dam" appropriate here on this professional community.
Thanks for correcting me Rami - there's nothing like personal here. I just keep learning through :)
...
1 reply by Rami Kaibni
Jan 26, 2016 1:56 PM
Rami Kaibni
...
Yes of course nothing personal. This community is a great one and like a family: We share, contribute, help each other, freely express our expreience, concerns, etc.
Glad to have you on board Ramesh.
Saving Changes...
Ramesh ChalamalasettiPMI ATP Instructor – PMP®| PMI Certified Instructor - PMP Exam Prep®Hyderabad, Andhra Pradesh, India
Jan 26, 2016 3:22 AM
Replying to Markus Kopko
...
Hi Rami,
hi Ramesh,
@Rami, thx for defending me ... ;)
@Ramesh:
I do apologyze, may be the words "didn't like it" would have be better.
To say " i hated ...." is a usual phrase in german language to express if we didn't like something.
I am sorry if i harmed you in any way.
And yes, of course i know to handle such things and i had a lot of procurement questions in my exam and so i am glad that i was well prepard for that.
In real life we have a special depertmant whcih handles the procurements in general and i am glad about it.
And i have also written that i loved risk mgmt and i also loved stakeholder mgmt and in fact most other KA's also ... but i am sure that you do have also your preferences in project management, right?
However,
no regrets.
Markus
Highly regard your bold gestures Markus ! Thanks many ! Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Jan 26, 2016 5:09 AM
Replying to Ramesh Chalamalasetti
...
Thanks for correcting me Rami - there's nothing like personal here. I just keep learning through :)
Yes of course nothing personal. This community is a great one and like a family: We share, contribute, help each other, freely express our expreience, concerns, etc.
Glad to have you on board Ramesh. Saving Changes...
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