Question: Question 1 You are considering using a fixed-price (FP) contract, because you have well-defined requirements for your construction project. With your requirements and your understanding

Question 1

You are considering using a fixed-price (FP) contract, because you have well-defined requirements for your construction project. With your requirements and your understanding of the seller's competition, you are confident you will be able to establish a complete statement of work. The fee or profit in this type of contract is:

		Determined with the other party at the end of the project
		Unknown
		Applied as a line item to every invoice
		Part of the negotiation involved in paying every invoice

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