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QUESTION

Which of the following is the best strategy to mitigate cost risk?

 Which of the following is the best strategy to mitigate cost risk?

   Rely on the contractor's proposed costs, supported by anecdotal data provided by the contractor

   Conduct adequate market research prior to entering negotiations

   Evaluate other contract actions awarded to the contractor you're negotiating with

   Establish a firm profit/fee percentage prior to entering negotiations

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