03.125 MARKS] a. Identifying risks in the project is responsibility of everyone in the project. Therefore, there are an integration between the risk management process and other knowledge areas such as procurement management. Explain the integration between these two main areas from the project management framework. (Your answer should be by points) (5 marks) b. Locate the following types of contracts on the horizontal axis the types of contracts on the figure based on relationship between risk percentage with the buyer and seller. (12 marks) A: Time and Material Contracts B: Cost Plus Incentive Fee Contracts C: Cost Plus Fixed Fee Contracts D: Cost plus Award fee Contracts E: Fixed Price Incentive Fee Contracts F: Fixed Price with Economic Price Adjustment Contracts As a procurement manager, you need to deal with different scenarios regarding the suppliers availability and different selection criteria. You might face a single source for delivering one specific deliverable without any competitors. Therefore, different types of issues you may face under this situation. Based on your experience, understanding and readings, give 4 different possible issues (8 marks) YOUR ANSWER OR TEXT MUST BE ORIGINAL (WRITTEN BY YOU), AND NOT COPIED. 03.125 MARKS] a. Identifying risks in the project is responsibility of everyone in the project. Therefore, there are an integration between the risk management process and other knowledge areas such as procurement management. Explain the integration between these two main areas from the project management framework. (Your answer should be by points) (5 marks) b. Locate the following types of contracts on the horizontal axis the types of contracts on the figure based on relationship between risk percentage with the buyer and seller. (12 marks) A: Time and Material Contracts B: Cost Plus Incentive Fee Contracts C: Cost Plus Fixed Fee Contracts D: Cost plus Award fee Contracts E: Fixed Price Incentive Fee Contracts F: Fixed Price with Economic Price Adjustment Contracts As a procurement manager, you need to deal with different scenarios regarding the suppliers availability and different selection criteria. You might face a single source for delivering one specific deliverable without any competitors. Therefore, different types of issues you may face under this situation. Based on your experience, understanding and readings, give 4 different possible issues (8 marks) YOUR ANSWER OR TEXT MUST BE ORIGINAL (WRITTEN BY YOU), AND NOT COPIED