SAB7#140 Contract Types

Oscar De la O
Mind Map by Oscar De la O, updated more than 1 year ago
Oscar De la O
Created by Oscar De la O about 6 years ago


Project Manager Professional PM - 110 a 154 Mind Map on SAB7#140 Contract Types, created by Oscar De la O on 09/04/2015.

Resource summary

SAB7#140 Contract Types
  1. FP - Fixed Price
    1. Pay one amount regardless of how much it costs the contractor to do the work.
    2. FPIF - Fixed Price plus Incentive Fee
      1. Pay a fixed price for the contract and give a bonus based on some performance goal.
      2. FPAF - Fixed Price Award Fee
        1. Pay a fixed Price plus and award amount based on performance, detemined in advance apportioned based on performance.
        2. FPEPA - Fixed Price Economic Price Adjustment
          1. Cover a multiyear period providing certainty.
          2. Purchase Order
            1. Unilateral and used for simply commodity procurements.
            2. T&M - Time and Materials
              1. Pay a rate for each of the people working on your project plus their materials costs.
              2. CR - Cost Reimbursable
                1. Provides the buyer to pay the seller allowable incurred costs to the extent prescribed.
                2. Cost Contract
                  1. The seller receives no fee.
                  2. CPF - Cost Plus Fee
                    1. CPPC - Cost Plus Percentage of Costs
                      1. Requires the buyer to pay for all costs plus a percentage of cost as a fee.
                      2. CPFF - Cost Plus Fixed Fee
                        1. Provides for payment to the seller of actual costs plus a negotiated fee that is fixed before the work begins.
                        2. CPIF - Cost Plus Incentive Fee
                          1. Provides for the seller to be paid for actual costs plus a fee that will be adjusted based on whether the specific performance objectives stated
                          2. CPAF - Cost Plus Award Fee
                            1. The buyer pays all costs and a base fee plus an award amount based on perfomance.
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