1. Which type of projects are most appropriate for (5 points):

a) Lump Sum (Fixed-Price) contracts

b) Unit Prices

c) Cost Plus

d) A+B

e) JOC

2. Unbalanced bids are typically associated with Unit Price Contracts.

a) Explain what is meant by "unbalanced bid" (2 points);

b) Describe the two different types of unbalanced bid, explaining why contractors may be tempted to submit each, and the risks associated with each (for both the owner and the contractor). (4 points)

3. Discuss how each contract type influences staffing requirements of the owner. (2.5 points)

4. Discuss the appropriate degree of design completeness for each contract type. (2.5 points)