My blog page - Page 4 of 14 - Project Management Bootcamp

Bid Documents

Ready to get the best deals for your project? Let’s talk about bid documents, your secret weapon for success. Bid documents are all the papers used to gather information, quotes, or proposals from potential sellers. Why do you need them? They ensure you get accurate offers and help you compare […]

Time and Material Contract (T&M)

Looking for flexibility in managing project costs while keeping control? Let’s explore the Time and Material Contract, or T&M! A T&M contract combines elements of both cost-reimbursable and fixed-price contracts. You pay for time worked and materials used. You need a T&M contract when scope isn’t fully defined, and you […]

Request for Information (RFI)

Need clarity before choosing the right vendor for your project? Let’s talk about the Request for Information or RFI! An RFI is a document where the buyer asks potential sellers for details about a product, service, or capability. You need an RFI when you’re exploring options and gathering insights from […]

Firm Fixed Price Contract (FFP)

Want price certainty in your projects without surprises? Let’s talk about the Firm Fixed Price Contract! A Firm Fixed Price Contract, or FFP, means the buyer pays a set amount, no matter what the seller’s costs are. You need FFP when your project scope is clear, and you want to […]

Cost-Reimbursable Contract

Need flexibility in your project budget while ensuring seller commitment? Let’s dive into the Cost-Reimbursable Contract! A Cost-Reimbursable Contract covers the seller’s actual costs and includes an extra fee for their profit. You need this contract when your project scope might change, and you want to ensure sellers get paid […]

Cost Plus Incentive Fee Contract (CPIF)

Want a contract that motivates your seller to perform better while controlling costs? Let’s explore the CPIF contract! A Cost Plus Incentive Fee Contract, or CPIF, reimburses the seller for costs and adds a profit if they meet performance targets. You need CPIF when you want to control costs while […]

Cost Plus Fixed Fee Contract (CPFF)

Need a contract that controls costs and guarantees profit? Let’s break down the CPFF contract! A Cost Plus Fixed Fee Contract, or CPFF, reimburses the seller for their costs and adds a fixed profit. You need CPFF when you want to cover the seller’s costs but also give them a […]

Cost Plus Award Fee Contract (CPAF)

Are you looking for a contract that rewards performance while covering costs? Let’s talk about the CPAF contract! A Cost Plus Award Fee Contract, or CPAF, pays sellers for their costs and gives an extra award fee for performance. This contract motivates your seller to go above and beyond. It […]

Fixed Price with Economic Price Adjustment Contract (FPEPA)

Worried about inflation or rising costs in your contracts? Let’s talk about Fixed Price with Economic Price Adjustment Contracts! A Fixed Price with Economic Price Adjustment Contract is a fixed-price contract with a provision for adjusting the price due to changes like inflation or commodity costs. Why do you need […]

Fixed Price Incentive Fee Contract (FPIF)

Looking to motivate your sellers to perform better? Let’s talk about Fixed Price Incentive Fee Contracts! A Fixed Price Incentive Fee Contract is when the buyer pays a set amount, but the seller can earn extra for meeting performance targets. Why do you need it? This contract drives better results […]