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Project Contract Types and Payment Schedules

In: An Introduction to Project Modeling and Planning

Author

Listed:
  • Gündüz Ulusoy

    (Sabancı University)

  • Öncü Hazır

    (Rennes School of Business)

Abstract

A project contract is a legally binding document written with the aim of compensating the contractor for the work she agrees to accomplish for the client. Contract preparation is vitally important as the contract specifies the scope of the project, a baseline plan with the due date and other important dates, and the cost of the project to the client and a payment schedule. In this Chapter, we introduce and compare different types of contracts. In the context of scheduling, payment scheduling models are discussed. Identification and allocation of risks are treated as important components of contracts. Contracts reflect the results of a bidding process or some form of client-contractor negotiations. We formulate a bidding model for determining the bidding price and present different negotiation models.

Suggested Citation

  • Gündüz Ulusoy & Öncü Hazır, 2021. "Project Contract Types and Payment Schedules," Springer Texts in Business and Economics, in: An Introduction to Project Modeling and Planning, edition 1, chapter 0, pages 281-310, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-61423-2_9
    DOI: 10.1007/978-3-030-61423-2_9
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