There is no free lunch
You’re going to be paying for a lot of lunches in your project: People will be eating. The only issue is how well are the charges hidden in the bid.
By necessity, a fixed price or hybrid T&M project will have a more complicated contract and statement of work. If you want simple contracts, you’ll find them only in pure T&M projects. But no matter what form your project bid takes, make sure your lawyers read both the main agreement and the statement of work (or related attachments, no matter how they are named). The clever consultant will scatter the sneakier stipulations all over the place, hoping that the contract reviewer will doze off before connecting the dots. In the immortal words of Tom Waits, “the large print giveth and the small print taketh away.”
Want to know my firm’s top 10 sneaky contract stipulations? Maybe next week. On second thought, they’re a trade secret.
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