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DRIVE-Fall 2014
PROGRAM/SEMESTER-MBADS
(SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4) PGDPMN (SEM 2)
SUBJECT CODE & NAME-PM 0018
–CONTRACTS MANAGEMENT IN PROJECTS
Q1.
What is procurement management? Explain the basic steps in procurement process.
(Definition
of procurement management, Explain the six basic steps of procurement
process)2.5, 7.5 (1.5 marks per step)
Ans.
Procurement
management
Procurement management is an
important knowledge area in project management and it is a formal process by
which many organizations acquire their goods and services from outside body.
Hence, project procurement management involves getting work done by people
outside the project organisation. It includes the management of purchasing or
acquiring of product, services, or projects.
Q2
Explain condition for adopting National Competitive Bidding and the
requirements of National Competitive Bidding.
(Explanation
of:
Condition
for adopting National Competitive Bidding-4, requirements of National
Competitive Bidding-6) 10 marks
Answer.
Condition
for adopting National Competitive Bidding
In National Competitive Bidding
you as an employer or purchaser, invite bids for works and goods through
advertisement in electronic and print media within the country. However,
foreign firms can participate in the bidding process, provided they accept the
bidding conditions. The bidders have to submit their bids in national currency
only and payment would also be made in national currency. You can choose NCB
method of procurement for goods and services under the following circumstances:
Q3
List the features of Item Rate contracts and demonstrate how they are different
from Lump Sum contracts.
(Listing
of features of Item Rate contracts-5, Differences-5) 10 marks
Answer.
Features
of Item Rate contracts
The salient features of item rate
contracts:
Bidders are allowed to quote unit
rates1 for carrying out various items of work or required goods.
·
Detailed
measurements of all items of work executed by the contractor are recorded and
payments are made to the contractor as per the quoted rates.
Q4 What is RFP? What are the types of
consultancy contract?
(Definition
of RFP-4, what it includes Description of types of consultancy contracts, where
it is best suited-6) 10 marks
Answer.
Definition
of RFP
It is an invitation for
suppliers, requesting for detailed proposal on how the work will be accomplished,
company experience, price, and so on. The RFP document for procurement of
consultant is similar to tender document for procurement for works and goods.
RFP provides all the instructions and information necessary for the shortlisted
consultants to prepare their proposals.
Q5.
Briefly explain the areas of risk and causes of risk in contracts. Briefly
describe five conditions for termination of a contract?
(Explanation
of various risks-5, Description of conditions for termination of contract-5) 10
marks
Answer.
Risk
and causes of risk in contracts
From the point of view of where
risk control lies, five classifications of risk can be listed:
·
External
risks which are unpredictable like acts of god, third party risks and so on.
·
External
risks which are predictable, but uncertain, like weather.
Q6.
What is outsourcing? What are its benefits and draw backs? Write short notes on
contract compliances?
(Explanation
of outsourcing, benefits and drawbacks-5, Short notes on contract compliance-5)
10 marks
Answer.
Outsourcing
Outsourcing is subcontracting a
service, such as product design or manufacturing, to a third party company. The
decision whether to outsource or to do in-house is often based on achieving a
lower production cost, making better use of available resources, focusing
energy on the core competencies of a particular business, or just making more
efficient use of labour, capital, information technology or land resources. It
is essentially a division of labour. Outsourcing became part of the business
lexicon during the 1980s.
Get fully solved assignment, plz drop a mail with your sub code
computeroperator4@gmail.com
Charges rs
125/subject and rs 700/semester only.
if urgent then call us
on 08791490301, 08273413412
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