Fixed Price Contract Notes: Definitions & Explanations PDF | Download eBooks
Study Fixed Price Contract lecture notes PDF with project management definitions and explanation to study “What is Fixed- Price Contract?”. Study fixed price contract explanation with project management terms to review project management course for online MBA programs.
Fixed Price Contract Definitions:
An agreement that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it is called fixed-price contract.
A Guide to the Project Management Body of Knowledge by Project Management Institute
In fixed-price contract, the contractor is required to perform the work at the negotiated contract value.
Project Management: A Systems Approach to Planning, Scheduling, and Controlling by Harold Kerzner?
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