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There are different types of fixed-price contracts and cost-reimbursable contracts that can be used when using an external party to help with a project. Another

There are different types of fixed-price contracts and cost-reimbursable contracts that can be used when using an external party to help with a project. Another option is to use something called a time-and-material contract. There are benefits to using each type, depending upon the situation. Choose one type of fixed-price contract and one type of cost-reimbursable contract. Briefly describe them. Give a project example where each one would be best to use.

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