Important Comparisons of Cost-Plus (Reimbursable) Payment Contracts

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This Skill Bit explores how cost-plus contracts, where clients pay actual costs plus a fee, differ from lump sum and time & materials contracts. It focuses on key areas like risk allocation, change management, and budget predictability. The course highlights the importance of strong cost control and close collaboration between parties to effectively manage financial risks and ensure project success.

Duration approx. 4 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.

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