Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

How many different types of contracts are commonly used in construction?

Construction & Property Construction Accounting Insurance Contracts
user-image
Question added by Mohammed Qaisar I PMP I MCIPS I MBA , Group Procurement Manager (Civil) , Al Ghurair Construction LLC
Date Posted: 2017/07/24
Upvote (2) Views (3) Followers (3) Answers (1) Report Question
Write an Answer
Register now or log in to answer.
Mohammed Qaisar I PMP I MCIPS I MBA
by Mohammed Qaisar I PMP I MCIPS I MBA , Group Procurement Manager (Civil) , Al Ghurair Construction LLC

As per PMI we can classify the type of contracts into3 categories.

A. Fixed-price contract : 1. Firm Fixed Price Contract2. Fixed Price Incentive Fee Contract3. Fixed Price with Economic Price Adjustment Contract.

B. Cost-reimbursable contract :1. Cost Plus Fixed Fee Contract2. Cost Plus Incentive Fee Contract3. Cost Plus Award Fee Contract.

3. Time and Material Contract.

Write Your Answer
More Questions Like This