Web design software - 256 Part III: Executing Your Software Project Plan
256 Part III: Executing Your Software Project Plan Selecting the contract type Some of the most basic contract types are listed in Table 12-2. Just keep in mind that this is not an exhaustive list, but it s enough to whet your appetite. Table 12-2 Contract Types Defined Contract Type Definition Who Bears the Risk? Fixed price contracts You pay the vendor an The vendor bears the risk (contracts with a single agreed upon price for here because he s getting fee) the work paid the same amount whether he has to spend more time on the project than expected or the project goes as planned. Reimbursed costs The vendor is reim-The buyer bears more of contracts bursed for all costs the risk here because if incurred prices increase after signing the contract, the buyer still has to reimburse for the higher costs even though the buyer doesn t get extra goods or services for the increased price. Time and materials The vendor is reim-The buyer bears more of contracts bursed for the time the risk because if it takes and materials during the vendor longer to comcompletion of the plete the project, the project buyer has to pay for that extra time. Also, if the price of the materials increases, the buyer pays more for those materials. Writing the terms and conditions Terms and conditions are the details of a contract that define every aspect of its implementation and how its requirements on all parties are performed. Some of the items usually covered in the terms and conditions of a contract
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