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hi im tom stevenson and welcome to introduction to construction management today were going to be continuing on where we left off in lecture 3a so were going to be reviewing contracting methods or procurement methods and were going to be looking at a number of different procurement methods including lump sum contracts unit price contracts cost plus contracts design build contracts and construction management and each one of these actually forms sort of a different working relationship between the owners or clients and the parties involved the contractors and consultants it its based on a number of areas including the assignment of risk complexity of the projects how theyre being funded theres a lot of elements that come into play when deciding the contract type or the best contract type under a specific situation so really as i mentioned were trying with contracts to look at how we can price the individual projects and with pricing theres always a certain amount of risk and so
