Creating the right type of ________ with the right terms and conditions will help an organization and a project team to transfer some of the project's risks and also to give the buyer a better means of managing the buyer/seller relationship.
A) SOW
B) SLA
C) contract
D) scope

Question

Quizplus · Accepted Answer

A contract is a legally binding agreement that outlines the terms and conditions of a project, including the responsibilities of both the buyer and seller, payment terms, and risk allocation. An effective contract can help to protect both parties and provide a framework for managing the project and relationship. A Statement of Work (SOW) outlines the scope of the project and deliverables, a Service Level Agreement (SLA) outlines specific service level targets and metrics for measuring performance. While these documents are important, they may not provide the same level of protection and risk management as a contract.

Creating the Right Type of ________ with the Right Terms