Describe the types of fixed cost contracts

1. Identify factors that determine which type of contract to select.

2. Describe the types of fixed cost contracts.

3. Describe the types of cost reimbursable contracts.

4. Which type of contract is most appropriate to use if the scope is extremely well known, and which type is most appropriate if the scope is very uncertain? Explain your choices.

5. Why would a water well drilling company prefer a cost reimbursable contract versus a fixed cost contract?

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