Fixed-price contracts

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Tobias Nielsen
 
Tobias Nielsen
  
'''Abstract'''
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==Abstract==
Projects can’t start until the contractor and customer have come to an agreement on time, cost and more. To do so, they use contracts, and one of the more common types is the fixed-price contract.
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==Basic Elements of A Fixed-Price Contract==
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====Types of Fixed-Price Contracts====
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1. '''''Firm Fixed-Price Contracts''''':
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here the project's technical and marketp
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2. '''''Fixed-Price Incentive Contracts''''':
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here the project's technical and marketp
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3. '''''Fixed-Price Contracts with Economic Price Adjustment''''':
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here the project's technical and marketp
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4. '''''Fixed-Ceiling-Price Contracts with Price Redetermination''''':
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here the project's technical and marketp
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5. '''''Firm Fixed-Price Level-of-Effort Contracts''''':
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here the project's technical and marketp
  
  
 
• Big idea:  
 
• Big idea:  
describe the tool, concept or theory and explain its purpose. The section should reflect the current state of the art on the topic
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describe the tool, concept or theory and explain its purpose. The section should reflect the current state of the art on the topic.
  
 
• Application:  
 
• Application:  
provide guidance on how to use the tool, concept or theory and when it is applicable
+
provide guidance on how to use the tool, concept or theory and when it is applicable.
  
 
• Limitations:  
 
• Limitations:  
critically reflect on the tool/concept/theory. When possible, substantiate your claims with literature
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critically reflect on the tool/concept/theory. When possible, substantiate your claims with literature.
  
 
• key references:  
 
• key references:  

Revision as of 23:03, 20 February 2022

Fixed-price contracts

Tobias Nielsen

Abstract

Basic Elements of A Fixed-Price Contract

Types of Fixed-Price Contracts

1. Firm Fixed-Price Contracts: here the project's technical and marketp

2. Fixed-Price Incentive Contracts: here the project's technical and marketp

3. Fixed-Price Contracts with Economic Price Adjustment: here the project's technical and marketp

4. Fixed-Ceiling-Price Contracts with Price Redetermination: here the project's technical and marketp

5. Firm Fixed-Price Level-of-Effort Contracts: here the project's technical and marketp


• Big idea: describe the tool, concept or theory and explain its purpose. The section should reflect the current state of the art on the topic.

• Application: provide guidance on how to use the tool, concept or theory and when it is applicable.

• Limitations: critically reflect on the tool/concept/theory. When possible, substantiate your claims with literature.

• key references: (3-10), where a reader can find additional information on the subject.


References 1. https://www.projectmanager.com/blog/fixed-price-contract 2. https://www.levelset.com/blog/fixed-price-contract/ 3. https://www.coconstruct.com/blog/builders-use-fixed-price-construction-contracts-80-of-the-time

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