Procurement Management

A fixed price incentive fee (FPIF) contract is a fixed price contract combined with an incentive fee. The seller will...

This is a fixed price contract combined with a pay rate adjustment based on changes to economic conditions such as:...

This is also referred to as a firm fixed price contract or a lump sum contract. Here the buyer and...

Once you’ve closed out a procurement, it’s important to conduct a procurement audit. This is where you go over everything...

A constructive change is a situation when a contractor performs work beyond the contract requirements, without a formal order under...