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2. Construction contract - Wikipedia

   en.wikipedia.org/wiki/Construction_contract

   A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors. The owner, often referred to as the 'employer' or the 'client', [ 1 ] has full authority to decide what type of ...

3. Cost-plus contract - Wikipedia

   en.wikipedia.org/wiki/Cost-plus_contract

   Cost-plus-incentive fee (CPIF) contracts have a larger fee awarded for contracts which meet or exceed certain performance goals, for example being on schedule and any cost savings. [1] Cost-plus-award fee (CPAF) contracts pay a fee based upon the contractor's product. An aircraft development contract, for example, may pay award fees if the ...

4. Lump sum contract - Wikipedia

   en.wikipedia.org/wiki/Lump_sum_contract

   A lump sum contract in construction is one type of construction contract, sometimes referred to as stipulated-sum, where a single price is quoted for an entire project based on plans and specifications and covers the entire project and the owner knows exactly how much the work will cost in advance. [1] This type of contract requires a full and ...

5. Glossary of construction cost estimating - Wikipedia

   en.wikipedia.org/wiki/Glossary_of_construction...

   A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...

6. Fixed-price contract - Wikipedia

   en.wikipedia.org/wiki/Fixed-price_contract

   Fixed-price contract. A fixed-price contract is a type of contract for the supply of goods or services, such that the agreed payment amount will not subsequently be adjusted to reflect the resources used, costs incurred or time expended by the contractor. This contract type may be contrasted with a cost-plus contract, which is intended to cover ...

7. Front-end engineering - Wikipedia

   en.wikipedia.org/wiki/Front-end_engineering

   Front-end engineering. Front-End Engineering (FEE), or Front-End Engineering Design (FEED), is an engineering design approach used to control project expenses and thoroughly plan a project before a fix bid quote is submitted. [1] It may also be referred to as Pre-project planning (PPP), front-end loading (FEL), feasibility analysis, or early ...