Understanding Cost-Plus (Reimbursable) Payment Contracts

This Skill Bit delves into the structure and management of cost-plus contracts, where contractors are reimbursed for actual costs plus a fee. It covers the importance of transparent cost tracking, strong budget controls, and effective change management to prevent cost overruns. The course also emphasizes collaboration between parties to ensure successful project completion while managing financial risks.

Duration approx. 5 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.