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WGU C783 AHN1 Task 2 Project Management |Latest Update with Complete Solution

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WGU C783 AHN1 Task 2 Project Management |Latest Update with Complete Solution

Institution
Western Governers University
Course
C783

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WGU C783 AHN1 Task 2 Project Management |Latest
Update with Complete Solution




Project Management – C783
AHN1 Task 2


Western..Governors..University




A. Provided..is..an..explanation..of..the..characteristics..of..the..following..contract..ty
pes..(PMI,..2017):
• Fixed..price:..This..type..of..contract..has..a..set..price..for..the..product..
or..service..to..be..provided...Some..of..these..contracts..offer..financial..i
ncentives..for..achieving..or..exceeding..the..goal...If..there..is..a..change..
in..the..project's..scope,..the..contract..might..be..renegotiated..with..a..h
igher..price.
• Time..and..materials:..The..time..and..materials..type..of..contract..has..the
..same..components..as..both..the..fixed..price..contract..and..the..cost-
plus..contract...With..this..type..of..contract,..the..contractor..or..vendor..is.
.paid..for..both..their..time..and..the..cost..of..materials...When..a..time..and
..materials..contract..is..used,..this..type..of..contract..is..most..often..an..est
imate,..as. . there..can..be..price..fluctuations..in..materials..and..time.
• Cost..plus:..When..a..cost-
plus..contract..is..used,..the..project..cost..is..for. . labor..and..materials..an
d..would..include..a..fixed..fee..paid..to..the..contractor..or..vendor..for..over
head..and..profit.
B. Five..vendor..selection..criteria..for..the..Merrilton..Data..Migration..Project..(P
MI,..2017).
1. Cost
2. Technical..expertise
3. Experience
4. Quality
5. Responsiveness
C. The. . purpose..of..Earned..Value..Analysis..(EVA)..is..to..assess..the..project's..perfo
rmance..and..then..identify..potential..future..outcomes..by..using..this..analysis..to
..compare..the..planned..work..of..the..project..against..the..actual..project..work..th
at..has..been..completed..(PMI,..2017).
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