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DRIVE
Fall
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:
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 documentation: In order to
close a contract successfully, it is important to collect all the relevant
documents for review. This may include collecting all the documents regarding
the
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
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 acquisitions: It involves
identifying the goods or services that need to be procured. The co
2.
·
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 of
Get fully solved assignment. Buy online from website
online store
or
plz drop a mail with your sub code
we will revert you within 2-3 hour or immediate
Charges rs
125/subject and rs 700/semester only.
if urgent then call us on 08791490301, 08273413412
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