cost-plus contract

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cost-plus contract

[¦kȯst ′pləs ‚kän‚trakt]
(engineering)
A contract under which a contractor furnishes all material, construction equipment, and labor at actual cost, plus an agreed-upon fee for his services.
References in periodicals archive ?
Since our data do not consist of completely cost-plus contracts, we sanitize our results from this effect by testing for this collinearity in three ways.
We will end unnecessary no-bid and cost-plus contracts that run up a bill that is paid by the American people.
Another is the cost-plus contract, which requires a slightly different pricing mindset than a firm-fixed-price contract.
Where cost-plus contracts were concerned there were no constraints on the Air Ministry's powers of investigation, and predictably this made costing an unpopular option for the firms.
As a result, there was a greater use of firm-price, fixed-price, and target-incentive contracts, with cost-plus contracts used only where unavoidable.
When [Alpha] [is greater than] 1, the contract again becomes a sort of cost-plus contract.
Programs with aspects of both were treated as cost-plus type contracts since cost-plus contracts are a better indicator of program risk.
After assembling four GPS III satellites under cost-plus contracts, Lockheed is projecting that the next four will be fixed-price, Valerio said in an interview at Lockheed's Arlington, Va.
Bush declared war on Iraq, invoked the president's authority to make wartime decisions and fired the lady in the procurement office for objecting to no-bid cost-plus contracts.
Indeed, FPIF contracts have benefits over both cost-plus contracts and firm fixed price contracts in this regard.
President Barack Obama took aim at no-bid and cost-plus contracts on Wednesday, promising to rein in government spending programs "plagued by massive cost overruns and outright fraud.