Contract types
Contract types influence how tasks, budgeted expenses, and invoicing values are calculated.
What you can do
- Time and materials projects usually calculate billing from time and expenses.
- Fixed-fee projects may use manual or progress-based earned value.
- Not-to-exceed structures can combine planned amounts with time-based tracking.
- Review project contract type before generating tasks or invoices.
Environmental consulting example
A remediation oversight engagement may be time and materials, while a Phase I ESA may be fixed fee.