Q1, Q2, Q3 - 450 words total Q1. Provide reflection on Chapter 13:Project Supply Chain Management. . Identify what you thought was the most important concept(s), method(s), term(s), and/or any other t

TYPES OF CONTRACT EXERCISE

Instructions: Within the context of your Week 2 Business Case project you will address and identify the different types of contracts that are available for supply chain management.

You will copy and paste the Business Case.

For each of the six (6) contract types below you will provide a description of each contract type and then identify where each of the contract could be utilized within your project. These need to be specific examples and explain why the specific contract type would be ideal for these supplies (goods or services). There is no word minimum but each should cover the required material and provide the specific information sought.

Business Case: In 2018, Ford Motor Company initiated a renovation project at Michigan Central Train Station, which was established in 1914. The company will expand the station from its original space of 500,000 square-foot it into a 1.2 million-square-foot innovation hub at an estimated cost of $740 million by 2023. The project involves building new walls, replacing electrical lines, installing new water pipes, painting, replacing the roof, establishing a fourth building. The project will attract investments from other motor companies, hotels, and restaurants, as well as retail shops thus influencing an economic recovery that has been anticipated since Detroit declared bankruptcy in 2013.

Fixed-Price Contracts

Firm-Fixed-Price (FFP) Contract:

Fixed-Price-Incentive-Fee (FPIF) Contract:

Fixed-Price-Economic-Price-Adjustment (FP-EPA) Contract:

Cost-Reimbursable Contracts

Cost-Plus-Fixed Fee (CPFF) Contract:

Cost-Plus-Award-Fee (CPAF) Contract:

Cost-Plus-Incentive Fee (CPIF) Contract: