AtkinsRealis Project Management Trainee Interview Questions and Answers

Types of contracts include fixed-price, cost-reimbursable, time and material, and incentive contracts.

• Fixed-price contracts have a set price for the project or deliverables.

• Cost-reimbursable contracts reimburse the contractor for all costs incurred plus a fee.

• Time and material contracts pay for the contractor's time and materials used.

• Incentive contracts offer rewards for meeting or exceeding performance targets.

• Other ...read more

Planning is deciding what to do and scheduling is deciding when to do it.

• Planning involves setting goals, defining objectives, and determining the resources needed to achieve them.

• Scheduling involves breaking down the plan into smaller tasks, assigning resources, and setting deadlines.

• Planning is more strategic and long-term, while scheduling is more tactical and short-term.

• Planning is about creating a roadmap, while s...read more

Time value of money refers to the concept that money available at the present time is worth more than the same amount in the future.

• The value of money decreases over time due to inflation

• Investing money can increase its value over time

• Discounted cash flow analysis is used to calculate the present value of future cash flows

• Time value of money is important in project management for budgeting and financial planning