What are the best practices for managing fixed-price projects?

What are the best practices for managing fixed-price projects?

Managing fixed-price projects effectively requires clear scope definition, regular communication, and risk management.

How do I define the project scope clearly?

To define the project scope, involve stakeholders, outline deliverables, and set clear timelines and budgets.

What should I do if the project requirements change?

If requirements change, assess the impact on scope, budget, and timeline, and communicate with stakeholders to adjust.

Can you give me an example of a risk management strategy?

A good risk management strategy includes identifying potential risks, assessing their impact, and developing mitigation plans.