Chapter 11

Types of Payment

Types of payment are the means by which the risks and responsibilities that are associated with the implementation cost of a project are allocated among the primary stakeholders involved in implementation. Payment types are differentiated based on the extent to which a certain type of payment shifts the majority of the above-mentioned risks and responsibilities onto the client or the external contributors. Types of payment are then classified as price-based, cost-based, and target-based. Since the client is the stakeholder who needs to make decisions about the project implementation strategy applied in the project, this chapter provides an introduction to the three basic types of payment, again from the client's ...

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