How to Get a Job For Project Managers

Learn how to write resume and interview

Leadership for Project Managers

Learn how to lead and drive project success.

Project Management Bootcamp

From a beginner to project management professional.

Measuring Project Performance

Master Earned Value Management to analyze and improve projects.

Fixed Price with Economic Price Adjustment Contract (FPEPA)

A fixed-price agreement that includes a clause allowing pre-established, formula-based adjustments to the final price when specified economic conditions change, such as inflation or documented increases or decreases in the cost of certain commodities.

Key Points

  • Begins with a fixed base price but permits limited adjustments for defined economic factors only.
  • The adjustment method, indices, thresholds, and timing are agreed upfront and stated in the contract.
  • Helps manage inflation or commodity price volatility without converting to a cost-reimbursable contract.
  • Best for longer-term buys with exposure to volatile inputs (e.g., fuel, metals, asphalt).

Example

A city awards a pipeline installation contract at a fixed price, with an EPA clause tied to a published steel index. If the index moves more than 3% at the annual review, the contract price is adjusted up or down by the agreed formula for the steel portion only; scope and quality remain unchanged.

PMP Example Question

A seller proposes a 3-year road project at a fixed price with a clause referencing a public asphalt index. If the index shifts beyond 5%, the price for the asphalt component will be adjusted annually per a preset formula. What contract type is this?

  1. Firm-Fixed-Price (FFP)
  2. Fixed Price with Economic Price Adjustment (FPEPA)
  3. Cost Plus Incentive Fee (CPIF)
  4. Time and Materials (T&M)

Correct Answer: B — Fixed Price with Economic Price Adjustment

Explanation: The contract is fixed-price but includes a predefined, index-based mechanism to adjust for economic changes, which is the hallmark of FPEPA.

How To Land the Job and Interview for Project Managers Course

Take the next big step in your project management career with HK School of Management. Whether you're breaking into the field or aiming for your dream job, this course gives you the tools to stand out, impress in interviews, and secure the role you deserve.

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!



Launch your career!

HK School of Management delivers top-tier training in Project Management, Job Search Strategies, and Career Growth. For the price of a lunch, you’ll gain expert insights into landing your dream PM role, mastering interviews, and negotiating like a pro. With a 30-day money-back guarantee, there’s zero risk—just a clear path to success!

Learn More