Match the types of contracts to defintions - Fixed Price Contract - Cost Reimbursable - Time and Material A. Cost is charged based on the actual duration of the work. Risk is on the buyer: The seller has no incentive to control costs B. Scope is not clearly defined up-front; the buyer often directs the work as the project progresses. C. fixed total cost to the buyer. Risk is on the seller/contractor - any costs higher than expected will reduce their profit