For the following types of undertakings, which contract modes are most appropriate? Be prepared to explain the rationale behind your choice.
Contracts and Procurement Assignment 4 Understanding Different Contract Modalities Contracts can be configured in various ways, but most are divided into one of two categories: fixed price contracts (also called lump sum contracts) and cost plus contracts (also called cost reimbursable contracts). Following is a summary differentiating the characteristics of these two contract modes: Fixed […]