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Cost-Reimbursable Contract

A contract in which the buyer repays the seller for allowable, documented costs and also pays an extra fee that generally represents the seller's profit.

Key Points

  • Buyer covers actual, allowable costs and pays a separate fee for the seller's profit.
  • Greater cost risk is carried by the buyer; the seller's financial risk is lower.
  • Requires strong cost tracking, reporting, and audit rights; may include a cost ceiling or not-to-exceed amount.
  • Common subtypes include CPFF, CPIF, and CPAF, which differ in how the fee is calculated.

Example

A government agency funds an R&D effort with uncertain scope. The contractor bills for labor, materials, and other allowable expenses, and also receives a negotiated fee for profit. If the contract is CPIF, the fee can increase slightly if costs are controlled below target.

PMP Example Question

A project involves exploratory work with unclear scope. The buyer wants to reimburse the contractor's allowable costs and pay a profit fee, possibly with incentives tied to cost performance. Which contract type best fits this need?

  1. Firm-fixed-price (FFP)
  2. Cost-plus-incentive-fee (CPIF)
  3. Time and materials (T&M)
  4. Unit price

Correct Answer: B — Cost-reimbursable contract (e.g., CPIF)

Explanation: Cost-reimbursable contracts pay actual costs plus a fee for profit, and CPIF adds incentives tied to performance, which suits uncertain R&D work.

How To Land the Job and Interview for Project Managers Course

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This isn’t just another job-hunting guide—it’s a tailored roadmap for project managers. You’ll craft winning resumes, tackle tough interview questions, and plan your first 90 days with confidence. Our hands-on approach includes real-world examples, AI-powered resume hacks, and interactive exercises to sharpen your skills.

You'll navigate the hiring process like a pro, with expert insights on personal branding, salary negotiation, and career growth strategies. Plus, downloadable templates and step-by-step guidance ensure you're always prepared.

Learn from seasoned professionals and join a community of ambitious project managers. Ready to land your ideal job and thrive in your career? Enroll now and take control of your future!



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