A Time and Material T&M)contract is really a hybrid of cost-reimbursable and fixed-price contracts.

Question

Quizplus · Accepted Answer

A Time and Material (T&M) contract is a type of contract in which the client pays the vendor based on the actual hours worked (time) and materials used. However, unlike a pure cost-reimbursable contract, the T&M contract includes a fixed fee or markup for the vendor's profit. This gives it elements of both cost-reimbursable and fixed-price contracts, making it a hybrid contract type.

A Time and Material T&M)contract Is Really a Hybrid of Cost-Reimbursable