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KINDLY ASSIST BY EXPLAINING THE BELOW TABLE WITH REGARD TO THE TYPE OF CONTRACT AND...

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Accounting

KINDLY ASSIST BY EXPLAINING THE BELOW TABLE WITH REGARD TO THE TYPE OF CONTRACT AND THEIR TRADE OFFS BETWEEN VARIOUS ISSUES.
Fixed-price Contract Cost -reimbursement contract Time & Material Contract
Customer's cost risk Firm fixed price Fixed price with escalation Cost plus fixed fee Cost
Customer cost at risk Low <________________________> High
contractor's incentive High
<________________________>
Low
Customer control Easy
<________________________>
Tough
control effort needed Little
<________________________>
A Lot
customer flexibility low
<________________________>
High
Information needed for control Little
<________________________>
A Lot
information needed at contract award All
<________________________>
little
Final price known at award Known
<________________________>
Unknown
claims resolution Difficult
<________________________>
Unnecessary
Risk premium Undisclosed
<________________________>
Actual cost

I just need an explanation of how you would interpret the table.

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