Business, 12.08.2019 19:30 charmrenee

Identify the incorrect statement dealing with types of contracts: a. a lump-sum contract. advantage: price is known when contract is made. disadvantages: diverse interests of contractor and owner, cost of changes, time and as cost of estimating. b. cost-plus-percentage contract. advantages: rapid start, flexibility. disadvantage: incentive for contractor to control cost. c. cost-plus-fixed-fee contract. advantages: no incentive to increase costs to earn more fee , fairly rapid start (minimal estimate needed), rapid completion. disadvantage: cost of changes. d. combination unit-price and lump-sum contract. advantage: variation in quantity requirements automatically handled. disadvantage: time and cost of estimating. e. none of the above

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Identify the incorrect statement dealing with types of contracts: a. a lump-sum contract. advantage...

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