Question: In answering this question, please answer correctly and take your time and answer in detail! You are a Project Manager for the Armaments Corporation of

In answering this question, please answer correctly and take your time and answer in detail!

You are a Project Manager for the Armaments Corporation of South Africa is the arms procurement agency of the South African Department of Defence (Armscor). Armscor is the acquisition agency for the Department of Defence (DOD).

They are in the process of procuring materials for the department of defence, there are three types of payment contracts that have been identified namely:

Fixed Price Contract
Time and Material Contract
Cost Reimbursable Contract

Please compare and contrast between the three identified types, and name the best contract to use in this deal. Identify its advantages and disadvantages and how it will benefit Armscor in the process (50 Marks)

Please Take your time and answer the question in a detail form, it counts for many marks!

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