Contract Types are several approaches between owner and contractor and each supports different project environments and project approaches. The Project Execution Plan (PEP) and procedures are developed based on the actual contract terms and conditions. There are two main types of contract: a fixed price and a reimbursement, and can be divided into: Fixed Price (Lump Sum) Contract; Cost plus (Reimbursable) Fee Contract; Incentive Contract; Unit Price Contract.
Related Definitions in the Project: The Project Management; Project Contract
