Important Comparisons in Time and Materials and Unit Price Contracts

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This Skill Bit shows that T&M and unit price contracts offer flexibility for uncertain projects. T&M focuses on actual hours and materials, unit price on pre-defined rates per unit. Management requires precise measurement, transparent reporting, and change order management (T&M) or accurate bid pricing (unit price).

Duration approx. 4 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.

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