Why a lump sum contract approach is better then a cost plus when contracting a designer?
A design company is being contracted to design and specify the equipment list for a plant. Why is it better to use a lump sum contract over a cost plus with the designers...
I need reasons rather then experiance and advice - for coursework
Let me clarify the question:
A revolutionary plant (first time ever built) requires a contractor to design the plant and produce an equipment/parts list.
What type of contract (cost plus or lump sum) is suitable for the contracter and the contractor
7 years ago