Register now or log in to join your professional community.
life cycle?
A. Cost reimbursable
B. T&M
C. Fixed price
D. Lump sum
I would go for option A Cost Reimbursable Contract
Fixed price and lump sum is the same type of contract , with very complete statement of work,
T&M is used when we have uncertainty, but is for a short time period and is used when we want to deal with a matter, very quickly.
Cost reimbursable contract is the best choice when we have a degree of uncertainty, which means we can not define well and clearly the statement of work of the project.
A. is the best answer
In my opinion - A. Cost reimbursable - Explanation: Cost-reimbursable contracts are used when the degree of uncertainty is high and when the project requires a large investment prior to completion of the project.
B. T&M -----------------------
Option A is the best choice.
I would use fixed-price since I do not know what the requirements are and I will not go for lump sum because this might not be fair for any of the parties.
Thank you. I think option A. Cost reimbursable is a good answer.