A _____ is when a consulting firm develops an application for a client at a negotiated price.
A)Cost-Reimbursable contract
B)Time and Materials contract
C)Fixed Price/Lump Sum contract
D)Cost plus fixed fee contract
E)Cost-plus-incentive-fee contract

Question

Quizplus · Accepted Answer

A fixed price/lump sum contract involves the consulting firm providing a set price for the development of the application for the client. This means the client knows exactly what they will pay for the application, and the consulting firm bears any additional costs or risks during development.

A _____ Is When a Consulting Firm Develops an Application