PMP Question Bank
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Question : You are a project manager in a construction company and urgently require some expert welders for short duration. You checked about their availability internally with functional manager but he is not able to match the skill set required by you. You decide to acquire these resources on contract. Which is the BEST type of contract for your requirements?
a) Cost Reimbursable
b) Fixed Price
c) Time and Material
d) Cost Plus Incentive Fee
Answer (c) Time and Material
Since the requirement is short term and project manager wants to have a brief and quick contract Time and Material is best option. Time and Material contracts are most suitable for staff augmentation, acquisition of experts etc.
Please refer to PMBOK 4th edition Project Procurement Management PN 324