Which contract type is most appropriate for procuring a series of services where both the exact volume and timing cannot be predefined?

Understand the Problem

The question is asking to identify the most suitable contract type for acquiring a series of services where the volume and timing are uncertain. This involves understanding the differences between various types of contracts and their applicability in situations with variable service needs.

More Information

IDIQ (Indefinite Delivery, Indefinite Quantity) contracts are ideal when the timing and volume of services are not predefined, as they offer flexibility to adjust as per needs.

Tips

A common mistake might be choosing a fixed-price contract which lacks flexibility when the scope is undefined.

Sources

• Understanding Procurement Contract Types - gep.com