SMU MBA SEM 4 -PM 0018 –CONTRACTS MANAGEMENT IN PROJECTS

SMU MBA WINTER 2015 -2016

Dear Students,

SMU MBA WINTER 2015-2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”

 

DRIVE

Winter 2015

PROGRAM

MBADS (SEM 4/SEM 6) – MBAFLEX/ MBA (SEM 4)

PGDPMN (SEM 2)

SUBJECT CODE & NAME

PM 0018 –CONTRACTS MANAGEMENT IN PROJECTS

BK ID – B2014

CREDIT AND MARKS – 4 CREDITS AND 60 MARKS

 

Q1. Explain the essential elements of a project contract. (Discuss the TEN essential elements of a project contract) 10

Answer: Essential elements of project contract: We have studied that a contract is an agreement enforceable by law. To be enforceable by law, an agreement must possess the essential elements of valid contract. These elements of a valid contract are discussed as follows:

 

Proposal (offer) and acceptance: There

 

Q2. Explain the steps involved in the contract closure process. (Explain the EIGHT steps involved in the contract closure process) 10

Answer: Contract Closure: Contract closure refers to a process of accomplishing all the tasks as per the terms and conditions mentioned in the contract. The steps involved in the contract closure process are given below:

 

  1. Collecting contract

 

 

Q3. What is an outsourcing contract? What is its key content? (Explain what is an outsourcing contract, Describe its key contents) 2, 8

Answer: Outsourcing Contracts: Outsourcing a contract implies a process in which one party contracts work to another party. First, the outsourcer accepts the tasks given by the organisation. Then, the contract is and involves key contents such as scope, conditions, deliverables, etc. Organisations often face the dilemma of whether to buy resources/services from outside or create them within the

 

 

Q4. Discuss the process of procurement. (List the SIX steps of the procurement process, Explain the SIX steps of the procurement process) 1, 9

Answer: Process of Procurement: The procurement process includes the activities of procuring goods or services, paying the bills, and closing the procurement contracts. The steps involved in the procurement process are discussed as follows:

 

  1. Planning purchases and

 

 

Q5. What is contract management? Describe its important features. (Define contract management, List and briefly explain the important features of a good management contract) 1, 9

Answer: Contract Management: Contract management refers to the management of contracts by negotiating the terms and conditions of the contract and ensuring compliance. It implies systematically managing the contract creation and maximizing the operational and financial performance of contracts. An increase in the use of contracts in organizations requires growing recognition for

 

 

Q6. Write short notes on: 10

  • Software development agreements
  • Bill of quantities method of pricing project contracts
  • Reasons for why an organization uses standard form of contract
  • Post bid review

Answer:

Software Development Agreements

Software and IT projects involve software testing, software development and software maintenance. Most

 

SMU MBA WINTER 2015 -2016

Dear Students,

SMU MBA WINTER 2015-2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”