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Instructions
1. Design Build Contract: a. Define the structure and intent of a firm fixed price (FFP) design-build contract.b. What are advantages and disadvantages of such a contract?c. As noted in the case study, the more common type of contract used in publicsector projects like the Tacoma Narrows Bridge is a design-bid-build contract. Whatadvantages does a design-build contract have over the design-bid-buildagreement?
Answer
Tacoma Bridge Advantages of Firm Fixed Price Contracts It is suitable for the acquisition of commercial supplies or services on the bases of detailed specifications. The parties will know the exact cost of the whole project and take the necessary action. This mostly pertains to the clients where they can know the exact price to pay for the project. It gives a room for budgeting where they plan on how to finance the project by outlining the means and the duration (Decarolis, F., 2014). It helps the engineer as well to determine the total costs to be incurred, likely changes in prices and the possible profits. Disadvantages of Firm Fixed Price Contracts The main disadvantage falls on the contractor's side when they fail to determine the costing and pricing professionally. Costs in the...
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