Question: Q3. [25 MARKS] a. Identifying risks in the project is responsibility of everyone in the project. Therefore, there are as integration between the risk management

Q3. [25 MARKS] a. Identifying risks in the project is responsibility of everyone in the project. Therefore, there are as 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

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