Use APA formatting and approximately 500 words per response to answer the following 4 questions:

1. Distinguish between fixed price, cost reimbursement, incentive, and time & material types of contracts as part of a project procurement plan. Explain how enterprise environmental factors and organizational process assets may influence the various contractual agreements.

2. Differentiate between the project management plan, subsidiary plans and baselines from the planning processes. Explain why the project management plan is the basis of all project work. Discuss the iterative planning process and its impact on the project management plan.

3. Describe the relationship between the project Work Breakdown Structure (WBS); contract WBS, Statement of Work (SOW) and the requirements traceability matrix and how they are used for managing project scope. Explain why managing the scope baseline can assist in managing stakeholder expectations

4. Describe and explain the specific components of a project management plan. Provide an example from your own experience or observation of a summary level or detailed project management plan and substantiate how that plan was used to manage the project.