Contract Pricing Mechanisms
5 important questions on Contract Pricing Mechanisms
What is a lump sum contract?
Risk of cost overruns is mostly borne by the contractor.
What is a re-measurable contract?
- Suitable where quantities are uncertain;
- less cost certainty for employer
What is a target cost contract?
- Higher grades + faster learning
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- 100% sure, 100% understanding
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What are NEC pricing options?
Option B – Priced contract with BOQ
Option C – Target cost with activity schedule
Option D – Target cost with BOQ
Option E – Cost reimbursable
Option F – Management contract
What is A Cost Plus Contract?
A contract where the Contractor is reimbursed for actual costs incurred, plus an agreed fee or percentage
- Useful where scope is uncertain or urgent
- Gives less cost certainty to the employer
- Requires strong cost control and monitoring
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
