Cost Plus with Guaranteed Maximum Price (GMP) and Incentive Contract

Posted on 6th November 201512th December 2020 by ThePD (The Project Definition)

A Cost Plus with Guaranteed Maximum Price (GPM) and Incentive Contract is one the Contract type, and is compensated based on a fixed cost of money. The total project cost will not exceed an agreed upper limit and a bonus or incentive is given if the project is finished below budget, ahead of schedule, etc.

Related Definitions in the Project: The Project Contract

Posted in Management and tagged contract, Contract Type, cost, management, project, reimbursable.

ThePD (The Project Definition)

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