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What contract type places the greatest risk on the buyer?
fixed price + Incentive
Which type of contract shifts the risk of cost overruns to the contractr?
Fixed-Price Incentive
A Fixed-Price Incentive (Firm Target) (FPIF) contract is awarded for 25 million to design a computer based training course for the Air Force with a period of performance of 18 months. What reports if?
none
What contract type puts the full risk on the contractor?
Fixed Pric
What is a price incentive.?
What was a price incentive
What is the cost plus fixed fee contract?
A type of cost reimbursement contract that assigns minimal responsibility for costs and for which a fixed fee is negotiated. The fee provides an incentive for a subcontractor to contract for efforts that might otherwise pose too great a risk to it to assume.
What are the Disadvantages of a construction Fixed-Price Contract?
The disadvantage of a fixed price contract is work can be incomplete or sloppy if they fall behind. When a vendor is working on a fixed price contract, they do their best to keep their cost down. The more they save themselves, the more they profit. In efforts to keep their profit margins high, they could reduce the quality of their work.
What are the Disadvantages of a construction Fixed Price Contract?
The disadvantage of a fixed price contract is work can be incomplete or sloppy if they fall behind. When a vendor is working on a fixed price contract, they do their best to keep their cost down. The more they save themselves, the more they profit. In efforts to keep their profit margins high, they could reduce the quality of their work.
What contract shifts the risk of cost overruns to the contractor?
fixed price with economic price adjustments
IS E P C Contract as a fixed sum price?
kind of.
What is the proper amount of money to obligate at the award of a firm fixed-price contract?
The full amount of the contract
Which type of contract addresses situations when the exact product or service cannot be determined?
fixed-celling price with retroactive price redetermination
