The Point of Total Assumption (PTA) is the point above which the seller starts assuming the cost of the contracted work The point of total assumption (PTA) is a point on the cost line of the profit-cost curve determined by the contract elements associated with a fixed price plus incentive-Firm Target (FPI) contract above which the seller effectively bears all the costs of a cost overrun. In the contract, the buyer agrees […]
What is Procurement, Purchasing, Types of Contract and the Risk Factors Involved Questions like what is the difference between Procurement or Purchasing, Agreement or Contract, how to select the Procurement Contract who carries the risk in which kind of Contract and many more are answered in this article. An article is a good place for […]
Project Procurement Management – PMP/CAPM No organization can deliver a project in a silo, they would need to buy a product, services or a combination of both from outside to deliver the project objectives. Project Procurement Management refers to the goods and services required to complete the project. These can be procured from other parts […]
Project Procurement Management (A high-level snapshot) Most companies need to search for services, products or results outside the company to deliver the project. It is important that while you are doing it you have a clear understanding of what needs to be procured, who should become your partner, and what kind of supplier-buyer relationship you are […]
Project Procurement Management Project Procurement Management is a knowledge area where you would be using all skills that you have learned in other 9 knowledge areas. The Project Procurement Management processes deal with purchasing goods or services from vendors, contractors, suppliers, and others outside the project team. When we see the Procurement through the lenses of […]