Supply Chain Management Professional (SCMP) · Question
Which type of contract is most suitable when the scope of work is highly uncertain and detailed specifications are difficult to define upfront?
Cost-plus contracts are ideal when the project scope is unclear, as they allow the buyer to pay the supplier's actual costs plus an agreed-upon fee or percentag
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Question: Which type of contract is most suitable when the scope of work is highly uncertain and detailed specifications are difficult to define upfront?
Answer options: ✅ Cost-plus contract.
- Fixed-price contract.
- Lump-sum contract.
- Unit-price contract.
Correct answer: Cost-plus contract.
Explanation: Cost-plus contracts are ideal when the project scope is unclear, as they allow the buyer to pay the supplier's actual costs plus an agreed-upon fee or percentage.
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