What is the primary purpose of including a schedule for progress payments in a contract?

Including a schedule for progress payments in a contract primarily serves to ensure transparency in payment. This structured payment schedule outlines the specific intervals or milestones at which payments will be made, which helps both parties manage expectations regarding cash flow and financial commitments throughout the project's duration. It provides a clear framework that fosters trust and accountability between the parties.

The transparency offered by a progress payment schedule allows for monitoring work completion against payment, ensuring that funds are disbursed based on achieved work or milestones. This system can reduce disputes related to payments, as all parties have a documented understanding of when and how much will be paid, making the financial arrangements clearer.

Other options, while having their merits, do not capture the primary function of the payment schedule as effectively. For instance, while controlling project timelines and allocating risks are important aspects of contract management, they are secondary outcomes that can arise from timely and transparent payments. Similarly, determining the final price is related to the overall contract terms but is not the primary purpose of a progress payment schedule. Thus, transparency in payment is fundamentally what the schedule aims to achieve, making it the most fitting answer.