Fall-2016
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Master of
Business Administration- MBA Semester 4
PM0018-Contracts
Management in Projects
(Book ID:
B2014)
Assignment (60 Marks)
Note: Answer
all questions must be written within 300 to 400 words each. Each Question
carries 10 marks 6 X 10=60.
Q1. Explain the essential elements of
a project contract.
Answer. Essential
elements of project contract:-
1. Aim of project - The aim of the project is a mixture
of the reasons for doing the project and the benefits that are expected from
it. This section of the plan can be either fulfilled by linking to the main
business case, or by restating it in language for the expected audience.
2. Outputs - Given the aim of the project, what
do we actually need to produce to get there? What will your completed project
be made up of? These need to be clearly defined. For example, your project's
aim
Q2. Explain the steps involved in the
contract closure process. (Explain the EIGHT steps involved in the contract
closure process)
Answer. Step
1: Determining who Responsible is
for Contract Closeout
a. The first
step in contract closeout is to determine who is responsible for closing out
the contract. Check the “Administrated
By” block on the latest modification, or if no modifications, the contract
award form, to determine which office is responsible for administering and
closing out the contract
Step 2:
Determining Physical Completion and Quick Closeout Procedures
Q3. What is an outsourcing contract? What
are the Advantages and Disadvantages of Outsourcing?
Answer. Outsourcing
contracts can be complex affairs, but a good outsourcing contract will
examine service level agreements, penalties and rewards, timeframes and
measurements, regular reviews, and exit strategies.
Q4. Discuss the process of
procurement.
Answer. Generally, the procurement process involves six broad stages. These can help
agencies check their procurement activity against best practice
recommendations. This process is common to all categories of procurement. The
relative importance of the different stages within the process will depend on
the size and type of procurement activity being proposed.
Q5. What is contract management?
Describe its important features.
Answer. Contract
management is the process of managing contract creation, execution and
analysis to maximize operational and financial performance at an organization,
all while reducing financial risk. Organizations encounter an ever-increasing
amount of pressure to reduce costs and improve company performance. Contract
management proves to be a very time-consuming element of business, which
Q6. Write short notes on:
Ø Contract Structure and its elements.
Ø Software Licensing
Answer. Contract
Structure and its Elements:-
A contract
is much more than an agreement between two people. There must be an offer and
acceptance, intention to create a legally binding agreement, a price paid (not
necessarily money), a legal capacity to enter a contract of your own free will,
and proper understanding and consent of what is involved. Any d
Fall-2016
Get solved
assignments at nominal price of Rs.130 each.
Mail us at: subjects4u@gmail.com or contact at
09882243490
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