Core terms · definition
Two contract structures: fixed-price (lump sum, contractor bears overrun risk) versus cost-plus (owner pays actual costs plus a fee, owner bears overrun risk). Each shifts risk and pricing transparency differently.
Source: Investopedia — Cost-Plus Contract
Where this term lands on a Columbus budget
The cost pages carry the current local ranges, and the guides explain what moves them. A published range becomes a project number only after someone looks at the site.