ABSTRACT
Contractual payment arrangements such as lump-sum contracts, fixed-price contracts, remeasurement contracts, cost-reimbursable contracts, guarantee maximum price, unit pricing contracts, and target pricing contracts were individually explained for the purpose of expounding the application of continuous improvement in the contract process. Procurement strategies were also connected with the standard forms of contract and contractual payment arrangements prior to the presentation of individual cases. The cases were aimed at providing examples of challenges and applications of combining continuous improvement with each contractual payment arrangement.
