Specific airline Essay Example for Free

Specific airline Essay Evalute why the low cost carrier are so successful? Use specific airline industry examples to illustrate yor answers. low cost carriers are discount carriers which offer low transport fares for passenger services. Until the emergence of deregulation of the airline sector, the success of this type of airline was restricted to the United States. however, this particular lucrative concept of airline business now holds sway in Europe, Asia, America and other parts of the world. this tye of business is run on low cost; it also offers affordable low cost ticket prices. Low cost carriers in the airline industry have contributed a great deal to improved service delivery at convenient and reduced prices in the industry. this type of airline carriers can be local[transporting within a defined region or country] or transnational [operates beyond national boundaries]. their tickets are affordable by all. They also offer a variety of low cost services on the plane because of the nature of their services, they intrinsincaly attract the middle and low income earners who form a major bulk of the population. It is important to state that the pricing mechanism also differs in terms of discounts and exacts fares among this type of carriers. Apart from these pricing and operating mechanisms, some may adopt a simplified route mechanism to less-congested and more satisfying locations with perceived higher patronage; others could opt for simplified luggage, employee or fueling mechanism. the goal in each case is to reduce cost of service and offer good but affordable services. The success of this type of industry is here illustrated by the Southwest airlines, based in United States. It has been in existsnce in 1973, and has since enjoyed effective customer patronage, lucrative returns and comfortable service. Other cariers include easy-jet[UK], Ryanair[IRELAND] and Virgin blue[AUSTRALIA]. The Southwest airline is one of the largest low-cost carriers in the world, and is acclaimed the largest low income carrier in the United states; based in Dallas Texas. One of the most important mechanisms that have contributed to the success of this ariline is its unique ability to hedge fuel prices through profit-motivated trading in energy prices based on speculations about fuel prices. The aim is to reduce the expenditure while maintaining quality supply from reputable suppliers. It has also developed mechanism which encourage fuel efficiency particularly the jet engine pressure washer. It flies slightly over 60 destinations in the United States although it has plans to expand its target locations. Its corporate culture includes flexibility, which allows passenges change their seat reservations without charges. it also operates a unique passenger allocation to boarding groups which makes it faster to board the plane. The essence of this is that is offers great customer services which makes it rank among one of the best customer service providers in the airline industry; its welcome announcements and songs are warm, the in-flight service of meals and package of luggage have earned the airline a place in the heart of most passengers. their flexibility in pricing constitutes a risk to full-service airlines; as a result, they enjoy better patronage because thier services are cheaper. Beyond these, it also has excellent environmental protection records with respect to waste disposal.

Internet gambling Essay Example for Free

Internet gambling Essay This document will inform you about the history of internet gambling, the existing issues, and a number of concerns involved with online gambling. Prior to the launching of the World Wide Web in 1993 which changed the setting of gambling, people had to travel great distances to gamble. The worlds first virtual online casino, Internet Casinos, Inc. (ICI) commenced operation on August 18, 1995 with 18 different casino games. Most of these online gambling companies are located outside of the U. S.to avoid government prosecution. ICI operates out of the Turks and Caicos Islands (Kish, 1999). One of the main reasons internet gambling started was because of costs. The value to start up an internet gambling site is around 1. 5 million dollars, which is half of what it costs to actually construct a casino. ICI estimates that the company averages about a twenty four percent profit margin, versus the typical United States casino, which ranges from eight percent to sixteen percent of each dollar wagered (Kish, 1999). An estimated twenty million people are currently online with a projected 160 million online by the year 2020. The overall market for online gambling is estimated to be approximately $49 billion worldwide (Kish, 1999). The history of internet gambling is only a decade old, however, its history will hold on for several more. There are several existing issues facing internet gambling. The first issues we will discuss are how to regulate internet gambling. The question raised by the emergence of Internet gambling is whether old lawsbased mainly on a world of atomsare still viable, and if not, in which way the Internet should be regulated (Walther, 2000). Some scholars believe that internet gambling needs to be regulated, and of course there are those that say let the owners of the sites regulate themselves. Regulatory procedures can be targeted at either or both of the providers and the consumers of gambling services. In the case of consumers, regulation is usually implemented by age, through prohibition of the participation of minors. Procedures might also be contrived to prohibit problem gamblers or undischarged bankrupts from engaging in gambling (Clarke, 2000). Another existing problem with internet gambling is The Wire Act which was intended to assist the states, territories and possessions of the United States, as well as the District of Columbia, in enforcing their respective laws on gambling and bookmaking and to suppress organized gambling activities. Subsection (a) of the Wire Act, a criminal provision, provides: Whoever being engaged in the business of betting or wagering knowingly uses a wire communication facility for the transmission in interstate or foreign commerce of bets or wagers or information assisting in the placing of bets or wagers on any sporting event or contest, or for the transmission of a wire communication which entitles the recipient to receive money or credit as a result of bets or wagers, or for information assisting in the placing of bets or wagers, shall be fined under this title or imprisoned not more than two years, or both (Rodefer, 2003). During the House of Representatives debate on the bill, Congressman Emanuel Celler, Chairman of the House Judiciary Committee stated [t]his bill only gets after the bookmaker, the gambler who makes it his business to take bets or to lay off bets. . . It does not go after the causal gambler who bets $2 on a race (Rodefer, 2003). What the government is having a problem with is that most internet gambling sites are run ran in foreign countries, and they cannot enforce this act against them. What they are trying to do is change the act to include these third parties. An example of this is the introduction of the Internet Gambling Prohibition Act of 1997 (Walther, 2000). The bill would have prohibited Internet gambling by extending the Wire Acts prohibitions on traditional forms of gambling by phone or wire to the Internet (Walther, 2000). This amendment would provide penalties for online bets and wagers. This so far seems to be the best solution, however ethical and moral dilemmas still rest in the hands of our lawmakers today. The next issue facing internet gambling is taxes. This seems to be the governments biggest issue. This is because of the billions of dollars we mentioned for profit by these online sites, government can gain significant amount of money from it. The legalization of Internet gambling may cause states to lose some revenue generated from legalized gambling operations because many gamblers would spend their money online (Lassani, 1998). Moreover, states lose revenue by not being able to tax gamblers who win over the Internet. Gamblers who win over the Internet have an incentive not to pay taxes on their winnings because the Internal Revenue Service (IRS) lacks the resources to track online gamblers (Lassani, 1998). The likelihood of addiction to Internet gambling among both children and adults is an extremely important concern. In relation to addiction, children are more likely to become addicted to something new than adults (Smith, 2004). For example, the video game-like nature of virtual casinos, labeled the crack cocaine of gambling, could make online gambling a temptation difficult to resist. Furthermore, the fact that the Internet gambler need not leave the comfort and privacy of his or her home could mean that an individual might become easily addicted. This is the worst thing about internet gambling, because there will not be anyone to detect if a person is addicted or not. Consequently the only aid they will get is their selves, and that leaves the player defenseless against the dependence of gambling. Having to go to the casino to gamble has better chances of knowing who is addicted and who is not, they have hired hands to detect this problem, unlike the home atmosphere. Kevin ONeill, Deputy Director of New Jerseys Council on Compulsive Gambling says The real threat comes from the isolation and secrecy of the betting activity itself. I call this threat the cave syndrome due to the gamblers isolated behavior and hidden activity (Wharry, 2001). In closing the short lived World Wide Web as created pandemonium with our lawmakers. The dilemma of how everyone interprets the Wire Act is a major concern. The efforts to amend it to make all users liable for using the websites are tiresome, and stopping foreigners from creating internet gambling sites seems never-ending since the United States cannot control them. In just over a decade there are over twenty million users, expected to increase to 160 million in the next 14 years. Its revenue is over 49 billion dollars and increasing. There are more profit margins with online gambling than the traditional casino. The cost to create a gambling web is 1. 5 million dollars compared to the 300 million to build a casino, this creates profit and increases attendance because of its trouble-free access. One important concern with internet gambling is addiction. Children are easily addicted to new things than adults and it will make it harder to control and detect gambling addiction. Internet gambling is a good creation for those people who can control themselves, but for those who cannot have a greater chance to end up bankrupt. Thus we can see from this example alone, why lawmakers are having such problems to secure the problem, do they let it carry on or let people put themselves in jeopardy of losing everything. Michael Bolcerek the President of The Poker Group said, Its a personal liberty issue with regard to how you spend your money and what you see over the Internet(Roth, 2006). References: Clarke, R. (2000, December). The feasibility of regulating gambling on the internet . Retrieved May 5, 2006, from Regulations of internet gambling Web site: http://www. anu. edu. au/people/Roger. Clarke/II/FeasIGR. html Kish, S. (1999). An analysis of the governments role in addressing internet gambling. Betting on the Net, 51(no 2), 449-6. Lessani, A.M. (1998, May). How much do you want to bet that the internet gambling prohibition act of 1997 is not the most effective way to tackle the problems of online gambling. Retrieved May 4, 2006, from The Internet Gambling Prohibition Act: An Analysis Web site: http://www. gseis. ucla. edu/iclp/alessani. html Rodefer, J. (2003). Federal wire wager act. Retrieved May 5, 2006, from Gambling-Law- US. com Web site: http://www. gambling-law-us. com/Federal-Laws/wire-act. htm Roth, B. (2006, April 25). Foes try to squelch online gambling. Knight Ridder Tribune Business News, [1]. Smith, A. (2004). Controversial and emerging issues associates with eybergambling (e-casinos). Online Information Review. 28(6), 435-443. Walther, F. M. (2000). A comparative u. s. -swiss perspective. Retrieved May 5, 2006, from Internet Gambling Related Regulatory Questions and Enforcement Problems Web site: http://stlr. stanford. edu/STLR/Events/gambling/contents_f. html#note5 Wharry, S. (2001). E-Gambling threat worries addiction experts. You Bet Your Life, 165,325.

William Shakespeare: Research Assignment

William Shakespeare: Research Assignment William Shakespeare is most arguably the best English poet and story writer the English literature world has ever known. Some of his famous works that one may recognize includes Macbeth, Hamlet, Romeo and Juliet and many others. But there were plenty of other things happening in England during the sixteenth and seventeenth century. Important events like the defeat of the Spanish Armada, treaty of peace between England and France, alliance between England and Netherlands, discovery and exploration of the new world, and the rise/fall of plenty of English rulers. All of these events impacted Shakespeare in one way or the other which could make one want to study Shakespeares work and compare/contrast the real world events with his work. If one doesnt know of William Shakespeare then theyve been hiding under a rock for centuries. William was a son of a wealthy business owner and active citizen of Stratford-upon-England. Shakespeare father then married Mary Arden in 1557 and had William on April 23, 1564. The black plague was decimating England in the fifteenth century and William was lucky that he survived. He lost several siblings to the plague including his older sisters Joan and Margaret. During that time period William and his brother Gilbert escaped the grasp of the deathly plagued and would both grow up to become successful people. William started school at the age of six at the Stratford grammar school. He was taught primarily in Latin but he also learned in English. Some believe that William was taken out of school at the age of thirteen due to financial problems but that wouldnt stop young William from learning. When he was about the age of eighteen he married a woman named Anne Hathaway, who was older and pregnant at the time. They had their first born in 1583 and they named her Susanna. Two years later they had twins by the name of Hamnet and Judith. Sadly one of the twins, Hamnet, died in 1596 due to unknown causes which affected William deeply. During this time, England was in a time of military dominance and golden age. They were about to go explore the new world and had unofficially involved in hostilities against Spain since the 1570s(Patrick, Pg 331). They were starting to gain wealth and power at a rapid rate. This certainly affected the citizens of England by ways of culture and entertainment. During this time, Shakespeare around the late 1500s was an inspiring actor and playwright. After gaining prominence in London, he became part owner of the Globe Theater and Blackfriars Theater in 1603. He continued acting until 1613 where he went to his hometown of Stratford to retire and sadly die in 1616, exactly 52 years to the day of his birth. William Shakespeare died in a time of religious controversy, exploration of life and values, and the start of personal freedom and protection. England was a country with many problems but that was only inspiration for Shakespeare along with personal events affected him. For example the death of his son caused sorrow for him which in turn was expressed in his writing. The sorrow also came through when he joined different acting troupes which also helped him to gain ideas and thoughts about drama. All of these events and tragedys eventually combine and come through Shakespeare writing and with his fame that he found during acting, it only took a matter of time for his writing to gain popularity. Though William Shakespeare was never a rich man, he still continued to follow what he loved most. He lived comfortably in Stratford which was all that he wanted for he would continue writing dramas and comedys that all would become famous either back then or right now. But people of England were not an easy crowd to please back in the 16th and 17th century. There was much upheaval in their government around this time which consisted of executions of political members to the public or assassinations. The Irish and Scots also were trying to gain their own independence from England around the late 1500s which made England be in constant war with countrys all around them. But even after Shakespeares death there was war and political unrest. The Thirty Years War begins, lasts until 1648,(britannia.com) and the exploration of the new world is fully underway which lead to England becoming more resourceful. Around the 1620s, ten years after the death of Shakespeare, King Charles I is forced to accept parliaments statement about civil rights in return for money so he can continue fighting his wars. This really marked the first time other then the Magna Carta that the king of England gives the people rights and civil liberties but of course they had to bargain for it. But not long after that King Charles I actually dissolve the parliament and rules England himself for the next 10 years. Dissolving the parliament wasnt actually a bad idea because King Charles I made peace with Spain and France which wouldnt of happened if parliament was still running. There has been many changes to England all during this time but its important to look back at history and truly see. William Shakespeare was in some way a motivator or influencer of England and its people who were in constant war and in chaos. If one looks back and compares the history of England to Shakespeares stories then they can see the similarities between them. When a reader today picks up a Shakespeare book or tale and reads it, its almost like looking back at England in that time period as if you were there and witness what it was like. Shakespeare gives us imagery and passion about England and thats why with his skills of writing and interesting dramatic stories that we still read about him and his tales today. Bibliography 1598, By. William Shakespeare. Wikipedia, the Free Encyclopedia. Web. 11 Nov. 2010. . Britannia: British History and Travel. Web. 11 Nov. 2010. . WILLIAM SHAKESPEARE. Web. 11 Nov. 2010. . James A. Patrick. Renaissance And Reformation. New York: Marshall Cavendish, Giovanni Caselli. The Renaissance And the New World. New York: Peter Bedrick Books, 1986. Catherine de Medicis. Reformation, Exploration, Empire. Danbury: Grolier, 2005.

Essay --

Breast Cancer As defined by Majure, breast cancer is an â€Å"uncontrolled growth of abnormal breast cells† (Majure: 110). It is also one of the cancers that women fear the most. Not only do women get diagnosed with breast cancer, men do too. However, it isn't as bad, or as common, in men as it is in women so doctors don’t recommend screening for men. In the U.S more than one thousand men get affected by breast cancer every year and about two hundred thousand women are affected by breast cancer every year. Women are most likely to get diagnosed with it in their forties and fifties while some may be diagnosed with breast cancer in their twenties, if they started their menstrual cycles at an early age like 14. Typically, men are diagnosed with breast cancer in their sixties or seventies. Historically speaking breast cancer has been around for hundreds of years. Thankfully the treatment has improved. Patients who get the cancer removed and take care of themselves after, for example, by exercising and eating healthy, will live longer. There are many risks that increase the likelihood of developing breast cancer, for instance, age, family history, and race. A women who made history with breast cancer was Betty Ford, Betty was one of the first lady’s to speak openly about her disease. Betty encouraged women who have been affected with the disease to go to their doctor as soon as possible and told women who had shared that they didn’t have breast cancer to do self breast exams regularly and get mammograms. She also said when women get diagnosed with it don’t be embarrassed. Treatments in the past were pretty good and quite the same compared to the treatments given to people now, for instance, mastectomy’s which was the primary... ...lso recommend that their patients get an x-ray for the untreated breast as well. Doctors and patients are relieved quite a few times because a majority of breast cancers don’t recur, yet minorities of breast cancers do recur after several years. This is why doctors encourage their patients to come to their follow-ups. Doctors aren’t really sure that if the disease doesn’t recur in a few years it doesn’t mean it won’t. This cancer is slow growing so the disease may recur in about 10 to 20 years; however time does affect the likelihood of recurrence so if there are no signs of the cancer in the x-ray then there is a chance the disease won’t recur. Doctors and medical professionals can offer only so much support and every woman who has been diagnosed with is deals with the consequences of treatment and diagnosis no matter how strong she is needs emotional support.

Y2k: Should We Be Worried? :: essays research papers

Some people wonder what Y2K is, and whether it is true or false. Should we be worried about Y2K? Some people are sure it is false, yet the news stresses that it is true. This has many people in fear for their life. Some have been preparing for over a year now because they think Y2K is going to hit and the power will go out and absolutely nothing will work. Should we believe this? Many people ask, "What is Y2K?". It made me wonder one day, "What does Y2K really mean?". I went to the search engine <a href="http://www.altavista.com">Altavista and typed in "What does Y2K stand for?". I looked and looked and finally found a page that answered mine and many others' questions. Y2K stands for Year 2000. Why K though? Why not Y2T? It is K because the Greek for thousand is Kilo so we use K to stand for thousand. Then comes another big question. What causes Y2K? There are two different factors in what causes Y2K. One factor being: Along time ago, approximately in the 70's different operating systems were being made for computers. The computer programmers decided to make the dates in these operating systems and programs with 2 digits(73) instead of 4(1973). That was all fine until about the early 90's when computer programmers noticed something. They saw that when the year 2000 rolled around the computers would read the date as 00 instead of 2000. The computer would think, "1900?", but I was made in 1973. This confuses the computer ,therefore, it resets it's self to 1980 and rearranges all of the settings in the BIOS (the programs that tells the computer which drive to load to, what kind of memory, what kind of CD-ROM the computer has, etc.). This could cause a problem, but nothing that could not be fixed in 5 minutes. One downfall to that is every time it got up to 2000 it would need to be fixed again. The upside being a program that reads the date with four digits is approximately ninety dollars depending on the kind of program wanted. The other factor is a computer programming language called COBOL (common business oriented language). This computer programming language is used by many businesses' computers. COBOL handles numbers and text so that businesses can produce reports and keep track of all sorts of data. It has no idea what a date is.

Self-Efficacy Beliefs and Career Development :: Career Development Papers

Self-Efficacy Beliefs and Career Development Strategic interventions are required to keep young people who are disadvantaged because of poverty, cultural obstacles, or linguistic barriers from dropping out of school. Recent studies showing a relationship between a student's belief structure and behavior suggest that self-efficacy beliefs may be an important focus for intervention. This ERIC Digest discusses ways in which self-efficacy beliefs are influenced by various internal, external, and interactive factors and reflected in career-related outcome expectations and performance. It examines ways of channeling self-efficacy beliefs toward positive outcomes that lead to the development and expansion of career goals and expectations. It presents strategies for enhancing the self-efficacy and career development of students that draw upon contextual, problem-based, and community-based learning practices and promotes self-monitoring and self-assessment. Beliefs and Perceptions According to Bandura (1977), self-efficacy is mediated by a person's beliefs or expectations about his/her capacity to accomplish certain tasks successfully or demonstrate certain behaviors (Hackett and Betz 1981). Bandura postulates that these expectations determine whether or not a certain behavior or performance will be attempted, the amount of effort the individual will contribute to the behavior, and how long the behavior will be sustained when obstacles are encountered (ibid.). Self-efficacy expectations, when viewed in relation to careers, refer to a person's beliefs regarding "career-related behaviors, educational and occupational choice, and performance and persistence in the implementation of those choices" (Betz and Hackett 1997, p. 383). They are reflected in an individual's perception about his/her ability to perform a given task or behavior (efficacy expectation) and his/her belief about the consequences of behavior or performance (outcome expectation)(Hackett and Betz 1981). The Social Cognitive Career Theory (SCCT) developed by Lent, Hackett, and Brown (1996) draws upon Bandura's self-efficacy theory. It offers a framework for career development, explaining the interplay between educational and vocational interests, career-related choices, and performance. SCCT highlights the relationship among social cognitive variables (e.g., self-efficacy) and their relationship with other variables in the individual's socio-contextual environment, such as gender, race/culture, family, community, and political components (ibid.). Chen (1997) contends that this integration of self and social context offers an opportunity for individuals to gain a sense of control over their career development and increase their career-related self-efficacy expectations. Self-Efficacy and Learning When individuals have low self-efficacy expectations regarding their behavior, they limit the extent to which they participate in an endeavor and are more apt to give up at the first sign of difficulty.

Types of Contracts

TYPES OF CONTRACTS The risk shared between the buyer and seller is determined by the contract type. Although the firm-fixedprice type of contractual arrangement is typically the preferred type which is encouraged and often demanded by most organizations, there are times when another contract form may be in the best interests of the project. If a contract type other than fixed-price is intended, it is incumbent on the project team to justify its use. The type of contract to be used and the specific contract terms and conditions fix the degree of risk being assumed by the buyer and seller.All legal contractual relationships generally fall into one of two broad families, either fixed-price or cost reimbursable. Also, there is a third hybrid-type commonly in use called the time and materials contract. The more popular of the contract types in use are discussed below as discrete types, but in practice it is not unusual to combine one or more types into a single procurement. Fixed price co ntracts. This category of contracts involves setting a fixed total price for a defined product or service to be provided.Fixed-price contracts may also incorporate financial incentives for achieving or exceeding selected project objectives, such as schedule delivery dates, cost and technical performance, or anything that can be quantified and subsequently measured. Sellers under fixed-price contracts are legally obligated to complete such contracts, with possible financial damages if they do not. Under the fixed-price arrangement, buyers must precisely specify the product or services being procured. Changes in scope can be accommodated, but generally at an increase in contract price.Firm Fixed Price Contracts (FFP). The most commonly used contract type is the FFP. It is favored by most buying organizations because the price for goods is set at the outset and not subject to change unless the scope of work changes. Any cost increase due to adverse performance is the responsibility of the seller, who is obligated to complete the effort. Under the FFP contract, the buyer must precisely specify the product or services to be procured, and any changes to the procurement specification can increase the costs to the buyer. Fixed Price Incentive Fee Contracts (FPIF).This fixed-price arrangement gives the buyer and seller some flexibility in that it allows for deviation from performance, with financial incentives tied to achieving agreed to metrics. Typically such financial incentives are related to cost, schedule, or technical performance of the seller. Performance targets are established at the outset, and the final contract price is determined after completion of all work based on the seller’s performance. Under FPIF contracts, a price ceiling is set, and all costs above the price ceiling are the responsibility of the seller, who is obligated to complete the work.Fixed Price with Economic Price Adjustment Contracts (FP-EPA). This contract type is used whenever t he seller’s performance period spans a considerable period of years, as is desired with many long-term relationships. It is a fixed-price contract, but with a special provision allowing for pre-defined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decreases) for specific commodities. The EPA clause must relate to some reliable financial index which is used to precisely adjust the final price.The FP-EPA contract is intended to protect both buyer and seller from external conditions beyond their control. Cost-reimbursable contracts. This category of contract involves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work, plus a fee representing seller profit. Cost-reimbursable contracts may also include financial incentive clauses whenever the seller exceeds, or falls below, defined objectives such as costs, schedule, or technical performance targets. Three of the more common types of cost-reimbursable contracts in use areCost Plus Fixed Fee (CPFF), Cost Plus Incentive Fee (CPIF), and Cost Plus Award Fee (CPAF). A cost-reimbursable contract gives the project flexibility to redirect a seller whenever the scope of work cannot be precisely defined at the start and needs to be altered, or when high risks may exist in the effort. Cost Plus Fixed Fee Contracts (CPFF). The seller is reimbursed for all allowable costs for performing the contract work, and receives a fixed fee payment calculated as a percentage of the initial estimated project costs. Fee is paid only for completed work and does not change due to seller performance.Fee amounts do not change unless the project scope changes. Cost Plus Incentive Fee Contracts (CPIF). The seller is reimbursed for all allowable costs for performing the contract work and receives a predetermined incentive fee based upon achieving certain performance objectives as set forth in the contract. In CPIF cont racts, if the final costs are less or greater than the original estimated costs, then both the buyer and seller share costs from the departures based upon a prenegotiated cost sharing formula, e. g. , an 80/20 split over/under target costs based on the actual performance of the seller.Cost Plus Award Fee Contracts (CPAF). The seller is reimbursed for all legitimate costs, but the majority of the fee is only earned based on the satisfaction of certain broad subjective performance criteria defined and incorporated into the contract. The determination of fee is based solely on the subjective determination of seller performance by the buyer, and is generally not subject to appeals. Time and Material Contracts (T&M). Time and material contracts are a hybrid type of contractual arrangement that contain aspects of both cost-reimbursable and fixed-price contracts.They are often used for staff augmentation, acquisition of experts, and any outside support when a precise statement of work cann ot be quickly prescribed. These types of contracts resemble cost-reimbursable contracts in that they can be left open ended and may be subject to a cost increase for the buyer. The full value of the agreement and the exact quantity of items to be delivered may not be defined by the buyer at the time of the contract award. Thus, T&M contracts can increase in contract value as if they were cost-reimbursable contracts.Many organizations require not-toexceed values and time limits placed in all T&M contracts to prevent unlimited cost growth. Conversely, T&M contracts can also resemble fixed unit price arrangements when certain parameters are specified in the contract. Unit labor or material rates can be preset by the buyer and seller, including seller profit, when both parties agree on the values for specific resource categories, such as senior engineers at specified rates per hour, or categories of materials at specified rates per unit.