FP and FFP

Submitted by manish_2004_mittal on Sun, 06/05/2011 - 06:46

  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?

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gk

Tue, 06/07/2011 - 17:51

FFP is Firm Fixed price and FP is Fixed price and they both are the same