3 Types of Contract [Video]

From the The Money Files Blog
A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from GirlsGuideToPM.com.

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Categories: contracts

In this video I talk about three different types of contract: fixed price, cost plus and time and materials. I’ll explain each type and the kinds of things they are used for.

What sort of contracts do you use on your projects? Let us know in the comments below.

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Posted on: August 08, 2018 08:59 AM | Permalink

Comments (11)

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Thanks for sharing Elizabeth!! Very informative

Thanks for sharing Elizabeth ... Will definitely go through it

Really nice!! Thanks for sharing!!!!

Ah I recall the PTA formula during the PMP exam preparation.


Thanks Elizabeth!

Useful. I have to admit that most of the realities that I know, who act as service providers (basically the "seller") tend to do FP contract, which is actually not the suggested way to do so. Is it for reducing the admin? Or what (in your opinion)?

Pier, I know a lot of people do fixed price contracts (including me). It is a lot less admin, and it's practical for everyone if the seller is sure they can do the work for the price.

That's probably not the case in construction though - Fixed Price contracts are not always used as normally there are lots of changes involved, no matter what.

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