Types of Contracts
This one-day, elective course provides participants with a basic understanding of various types of contracts used in the Federal Government as well as the best application of each for the benefit of the government and for the contractor.
• Identify types of contracts – fixed price vs. cost reimbursable
• Examine and evaluate the use of fixed price contract types including: firm fixed price (FFP), fixed price with economic price adjustment (FPEPA), fixed price award fee (FPAF), fixed price prospective re-determinable (FPPRD) and fixed price incentive (FPI)
• Examine and evaluate the use of cost reimbursable contract types including: cost plus fixed fee (CPFF), cost plus incentive fee (CPIF), cost plus award fee (CPAF), cost or cost sharing (C/CS)
• Examine and evaluate the use of time & materials (T&M) contract types