Valid PMP Dumps shared by ExamDiscuss.com for Helping Passing PMP Exam! ExamDiscuss.com now offer the newest PMP exam dumps, the ExamDiscuss.com PMP exam questions have been updated and answers have been corrected get the newest ExamDiscuss.com PMP dumps with Test Engine here:
Contract terms used during the tender phase for a new power-generation facility must be revised before signing with the successful bidder because the terms of the tender have been amended to accommodate the new financial regulations on company tax. Which approach should the project manager take to implement this amendment?
Correct Answer: B
When contract terms need to be revised due to changes in financial regulations, it is essential to amend the contract terms to reflect these changes accurately. This ensures that both parties are aware of and agree to the new terms, which are compliant with current regulations. The process of managing project contracts involves assessing contract risks together with the technical, financial, and operational risks of the project. This requires collaboration between all members of the organization who have a stake in the implementation of the contract1. Furthermore, the PMBOK Guide's Change Management Process emphasizes the importance of documenting change requests and analyzing their impact, which would include assessing how new financial regulations affect the contract terms2. Therefore, the project manager should work with the successful bidder to amend the contract terms accordingly. References: Process of Managing Project Contracts | PMI, PMBOK Guide Change Management Process For PMP Exam | PM-by-PM.