As Project Managers we must always be conscious of risk and the negative influence it can have on project success. In the Procurement Management Knowledge Area (and in the Lecture Material), there are four common types of contracts used with outsourcing suppliers who provide products and/or services for our projects. When you are signing a contract with an outsourcing supplier who will provide products or services for your project, the worst contract type for minimizing your financial risk is: fixed-price incentive firm fixed-price cost-plus percentage of cost cost-plus incentive fee