Procurement to Projects Question 1. Imagine that you are a project manager responsible for a medical health services project which will benefit low income earners, the unemployed and the homeless. The project is quite large and consists of the sourcing and acquisition of medical professionals, medical supplies and medical establishments to provide the services stipulated by the project charter. The sponsor of the project is the Ministry of Health of the local government of the country that you live in. Imagine that after you have signed fixed price contracts for the medical services to be offered to your target population, one of the local pharmaceutical companies contracted to provide medical supplies, sends you correspondence which states that the prices that were previously agreed to have increased. The company is adamant that you have to pay the additional funds because of the increase or you will not receive the products. Use the situation above to answer each question in detail. i. Can you imagine what would happen if the contract was not signed by the buyer and the seller? ii. All legal contracts usually are one of three types of contracts: fixed price contracts, cost reimbursable contracts or time and material contracts. As a seller, which of these contracts would you prefer? Which contract would ensure that you can maximize your profits and keep your costs as low as possible? iii. Procurement documents usually contain source selection criteria, which are the desired attributes of bidders and prospective sellers. What selection criteria would you consider to be important for a project of this magnitude