This episode of The Learning FM Podcast covers the Project Contract Types!
As you know by now, being a facility manager, means you are often a project manager. In order to be an effective project manager, you must understand the types of contract you are likely to see. From there, you will know when you should use each contract and what the pros and cons are between them. There are key differences, which will dictate what contract types to use in certain circumstances. As you progress through your career, you will inevitably move into contracting outside services for your own projects. Once you hit that point, this knowledge will become invaluable.
By understanding these project contract types, you will be much better adept at managing all projects.
The Project Contract Types you will learn are:
- Fixed Price Contracts
- Firm Fixed Price
- Fixed Price Incentive Fee
- Fixed Price with Economic Price Adjustment
- Cost-Reimbursable Contracts
- Cost Plus Percentage of Cost
- Cost Plus Fixed Fee
- Cost Plus Award Fee
- Cost Plus Incentive Fee
- Time and Materials Contracts
Please join me every Tuesday on The Learning FM Podcast for new information on Facility Management and the four knowledge domains. If you enjoyed this episode, check out the article I wrote about the Types of Contracts in Facilities Management.
So, without further ado, listen closely and email me with any questions you have at firstname.lastname@example.org. Thanks for listening!