What Is Cost Reimbursement Type Contract?

What Is Cost Reimbursement Type Contract? – Cost Reimbursement Type Contract is a category of contracts based on payments to a contractor for allowable estimated costs, normally requiring only a ‘best efforts’ performance standard from the contractor. Risk for all growth over the estimated value rests with the project owner.

For all Project Management Definitions, check the PMO and Project Management Dictionary by John Filicetti