PM-598 Topic 6 DQ 1 (SOLVED)

PM-598 Topic 6 DQ 1 (SOLVED)

Controlling Procurements (graded) 

We are nearing the end of our study of procurement. Here are a number of questions to see what you have learned about the overall process and about control procurements in particular. 

Which type of contract requires the least contract administration during control procurement phase? Which type requires the most? Why?
Why is it commonly difficult to get work finished under a firm fixed-price contract?
Why is it sometimes difficult to get the seller to complete work under a cost plus contract?
What can be done to induce fixed-price contractors to become more responsive?
What other types of strategies can be employed to induce contractors to finish the work on time?
How does risk relate to getting the final work completed?