ExpertPMP · Question 25 · Task 11: Plan and manage procurement
A project manager is procuring specialized consulting services for a digital transformation project. The work involves proprietary methodologies and requires deep integration with the client's existing systems. Three vendors have responded to the RFP with significantly different approaches: one proposes a fixed-price contract, another suggests time-and-materials, and the third recommends a performance-based contract tied to business outcomes. What should the project manager do FIRST?
A project manager is procuring specialized consulting services for a digital transformation project. The work involves proprietary methodologies and requires deep integration with the client's existing systems. Three vendors have responded to the RFP with significantly different approaches: one proposes a fixed-price contract, another suggests time-and-materials, and the third recommends a performance-based contract tied to business outcomes. What should the project manager do FIRST?
Answer options:
Analyze the project characteristics, risk tolerance, and success criteria to determine the most appropriate contract type
Choose the fixed-price contract to provide cost certainty for the project
Select the performance-based contract to align vendor incentives with business outcomes
Request all vendors to resubmit proposals using the same contract type for fair comparison
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