Which type of contract should be selected for procurement based on the following points:

1. Costs become lower by outsourcing.

2. Hire quality employees from all across the globe that cannot be found locally.

3. Guarantee of work continuation and no downtime.

Should we select Fixed price contract or cost-reimbursable contract based on above three points?

Select specific type for from below list for Fixed & Cost-reimbursable contract.

1. Fixed Price:

a. Firm Fixed price

b. Fixed price incentive fee

c. Fixed price with economic price adjustment

2. Cost-reimbursable contract

a. Cost plus fixed fee

b. cost plus incentive fee

c. cost plus award fee

Use PMBOK for answer.