Question
ABC has signed a contract with XYZ, a civil engineering firm for the construction of a hospital infrastructure which is to be completed within 4
ABC has signed a contract with XYZ, a civil engineering firm for the construction of a hospital infrastructure which is to be completed within 4 years. Even though assuming that the project scope of work may change during the 4 years construction time frame, nevertheless one of the clauses in the contract states that, should XYZ exceed the key performance indicators pertaining to the cost, schedule, quality of the scope of work, resource optimization and overall quality standards of the project by 80%, the company shall then be issued an amount of USD 100,000/- for exceeding the key performance indicators. This type of contract is a a. Firm Fixed Price Contract b. Fixed Price with Award Contract c. Fixed Price with Incentive Contract d. Cost plus award fee contrac
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started