Project Risk Management

Write a two- to four-page paper that describes an event in the past from either your personal or professional life in which you used a contract. Answer the following questions.

1. How did assumption of risk play a part in the type of contract used?
2. What type of contract was finally settled upon in this situation?
3. Was this type of contract appropriate for this situation or was there a better type that should have been used? 
4. Did the type of contract impact the success of the project? 

You must use references to support your conclusions. Remember to cite and reference any sources that were used in the comparison and contrast.