Question - FP and FFP

Submitted by manish_2004_mittal on Sat, 06/04/2011 - 09:16

 Ques->While managing a project, you decide to contract to an external enterprise. You enter into a contract where you pay the external enterprise a set amount (as defined by the contract), irrespective of the seller's costs. What would best describe this type of contract?

Options->

- FFP (Fixed Price Contract)

- FP ( Fixed Price)

Which is correct option ? Are FFP and FP different?

Forums: 
PMP / CAPM exam Question bank
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rsang

Sun, 06/05/2011 - 16:08

Manish,

Both FP and FFP are same. what is source of this Question?

Also, is not "external enterprise" is "Seller" here? any comments?

 

Akshay Singh

Mon, 06/27/2011 - 07:54

Fixed price ( FP) is a category which consists of  FFP,FPIF and FP-EPA types.

Here answer will be FFP. Firm fixed price contract.

 

Regards

Akshay Singh

akshay@emensuslearning.com

www.emensuslearning.com

aaron

Tue, 06/28/2011 - 14:52

FFP (Firm Fixed Price) is same as FP (Fixed Price). Please re-state the questions with all options.

nips3045

Sat, 06/30/2012 - 23:54

Question is from book:


PMP Exam Prep Questions, Answers, & Explanations by Christopher Scordo.


 And the options are:


a. fixed price.


b. FFP


c. Lump sum


d. FPIF 


 


FFP is marked as the correct answer. But do not understand why....