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Cost Plus Fixed Fee
A cost-plus contract, also termed a cost plus contract, is a contract such that a contractor is paid for all of its allowed expenses, ''plus'' additional payment to allow for a profit.Cost-Plus Contracts Center for Strategic and International Studies Cost-reimbursement contracts contrast with fixed-price contract, in which the contractor is paid a negotiated amount regardless of incurred expenses. History Frank Bunker Gilbreth Sr., Frank B. Gilbreth, one of the early developers of industrial engineering, used "cost-plus-a-fixed sum" contracts for his building contracting business. He described this method in an article in ''Industrial Magazine'' in 1907, comparing it to fixed price contract, fixed price and guaranteed maximum price methods. Cost-plus contract ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Research And Development
Research and development (R&D or R+D), known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existing ones. Research and development constitutes the first stage of development of a potential new service or the production process. R&D activities differ from institution to institution, with two primary models of an R&D department either staffed by engineers and tasked with directly developing new products, or staffed with industrial scientists and tasked with applied research in scientific or technological fields, which may facilitate future product development. R&D differs from the vast majority of corporate activities in that it is not intended to yield immediate profit, and generally carries greater risk and an uncertain return on investment. However R&D is crucial for acquiring larger shares of the market through the marketisation o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Terms
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost-plus Pricing
Cost-plus pricing is a pricing strategy by which the selling price of a product is determined by adding a specific fixed percentage (a " markup") to the product's unit cost. Essentially, the markup percentage is a method of generating a particular desired rate of return. An alternative pricing method is value-based pricing. Cost-plus pricing has often been used for government contracts (cost-plus contracts), and has been criticized for reducing incentive for suppliers to control direct costs, indirect costs and fixed costs whether related to the production and sale of the product or service or not. Companies using this strategy need to record their costs in detail to ensure they have a comprehensive understanding of their overall costs. This information is necessary to generate accurate cost estimates. Cost-plus pricing is especially common for utilities and single-buyer products that are manufactured to the buyer's specification, such as for military procurement. Mechanics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Engineering
Cost engineering is "the engineering practice devoted to the management of project cost, involving such activities as estimating, cost control, cost forecasting, investment appraisal and risk analysis". "Cost Engineers budget, plan and monitor investment projects. They seek the optimum balance between cost, quality and time requirements." Skills and knowledge of cost engineers are similar to those of quantity surveyors. In many industries, cost engineering is synonymous with project controls. As the title "engineer" has legal requirements in many jurisdictions (i.e. Texas, Canada), the cost engineering discipline is often renamed to project controls. A cost engineer is "an engineer whose judgment and experience are utilized in the application of scientific principles and techniques to problems of estimation; cost control; business planning and management science; profitability analysis; project management; and planning and scheduling". Overview One key objective of cost en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald R
Gerald is a male Germanic given name meaning "rule of the spear" from the prefix ''ger-'' ("spear") and suffix ''-wald'' ("rule"). Variants include the English given name Jerrold, the feminine nickname Jeri and the Welsh language Gerallt and Irish language Gearalt. Gerald is less common as a surname. The name is also found in French as Gérald. Geraldine is the feminine equivalent. Given name People with the name Gerald include: Politicians * Gerald Boland, Ireland's longest-serving Minister for Justice * Gerald Ford, 38th President of the United States * Gerald Gardiner, Baron Gardiner, Lord Chancellor from 1964 to 1970 * Gerald Häfner, German MEP * Gerald Klug, Austrian politician * Gerald Lascelles (other), several people * Gerald Nabarro, British Conservative politician * Gerald S. McGowan, US Ambassador to Portugal * Gerald Wellesley, 7th Duke of Wellington, British diplomat, soldier, and architect Sports * Gerald Asamoah, Ghanaian-born German football player * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nimitz-class Aircraft Carrier
The ''Nimitz'' class is a class of ten nuclear-powered aircraft carriers in service with the United States Navy. The lead ship of the class is named after World War II United States Pacific Fleet commander Fleet Admiral Chester W. Nimitz, who was the last living U.S. Navy officer to hold the rank. With an overall length of and full-load displacement of over , the ''Nimitz''-class ships were the largest warships built and in service until entered the fleet in 2017. Instead of the gas turbines or diesel-electric systems used for propulsion on many modern warships, the carriers use two A4W pressurized water reactors which drive four propeller shafts and can produce a maximum speed of over and maximum power of around . As a result of the use of nuclear power, the ships are capable of operating for over 20 years without refueling and are predicted to have a service life of over 50 years. They are categorized as nuclear-powered aircraft carriers and are numbered with consecu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UGM-133 Trident II
The UGM-133A Trident II, or Trident D5 is a submarine-launched ballistic missile (SLBM), built by Lockheed Martin Space in Sunnyvale, California, and deployed with the American and British navies. It was first deployed in March 1990, and remains in service. The Trident II Strategic Weapons System is an improved SLBM with greater accuracy, payload, and range than the earlier Trident C-4. It is a key element of the U.S. strategic nuclear triad and strengthens U.S. strategic deterrence. The Trident II is considered to be a durable sea-based system capable of engaging many targets. It has payload flexibility that can accommodate various treaty requirements, such as New START. The Trident II's increased payload allows nuclear deterrence to be accomplished with fewer submarines, and its high accuracy—approaching that of land-based missiles—enables it to be used as a first strike weapon. Trident II missiles are carried by 14 US and four British submarines, with 24 missile ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lockheed Martin F-35 Lightning II
The Lockheed Martin F-35 Lightning II is an American family of single-seat, single-engine, all-weather stealth multirole combat aircraft that is intended to perform both air superiority and strike missions. It is also able to provide electronic warfare and intelligence, surveillance, and reconnaissance capabilities. Lockheed Martin is the prime F-35 contractor, with principal partners Northrop Grumman and BAE Systems. The aircraft has three main variants: the conventional takeoff and landing (CTOL) F-35A, the short take-off and vertical-landing (STOVL) F-35B, and the carrier-based (CV/ CATOBAR) F-35C. The aircraft descends from the Lockheed Martin X-35, which in 2001 beat the Boeing X-32 to win the Joint Strike Fighter (JSF) program. Its development is principally funded by the United States, with additional funding from program partner countries from NATO and close U.S. allies, including the United Kingdom, Australia, Canada, Italy, Norway, Denmark, the Nethe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Space Program
The United States has developed many space programs since the beginning of the spaceflight era in the mid-20th century. The United States Government delivers space program solutions from three primary agencies: NASA for civil space; DoD for Military space; and the Intelligence Community for specific space-based Intelligence, Surveillance, and Reconnaissance assets. These entities have invested significant resources over decades to advance technological approaches to meet specific program objectives. In the late 1980s, commercial interests emerged pursuing space solutions and have expanded dramatically especially with the significant investments made in the last 10–15 years. NASA delivers the most visible elements of the U.S. space portfolio. From crewed space exploration and the Apollo 11 landing on the moon, to the Space Shuttle, International Space Station, Voyager, the Mars Rovers, many space telescopes, and the Artemis program, NASA delivers on the civil space exploration ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas ( business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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