Your company had a contract to renovate a large auditorium of a multinational company for $650,000. There is a flexible due date to complete the renovation. Which type of contract to sign in this case

the options are missing:

the answer is: c) Fixed Price

Explanation:

Cost-plus Fee  contract involves a contractor being paid its building costs plus a certain fee or profit. Doesn't apply here because the price if fixed.

Time and Material

s contract are similar to cost-plus fee since the contractor is paid for labor and materials costs plus a margin during the time required to finish the construction.

Fixed cost-plus profit contract includes a bonus for good performance, which generally results from finishing early.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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