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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.

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

Q3. What is an outsourcing contract? What is its key content?

These can help agencies check their procurement activity against best practice recommendations. Generally. with some organisations choosing to outsource their whole IT requirements. it establishes their respective legal duties. penalties and rewards. Answer. regular reviews. . Write short notes on: • 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. and exit strategies. Outsourcing contracts can be complex affairs. a. Contract management is the process of managing contract creation. preventing disputes.Answer. Q5. customer services Q4. Discuss the process of procurement. execution and analysis to maximize operational and financial performance at an organization. Q6. and providing ways to solve problems if they develop. A written software development agreement is key to getting the product you want (if you are the client). Organizations encounter an everincreasing amount of pressure to reduce costs and improve company performance. What is contract management? Describe its important features. but a good outsourcing contract will examine service level agreements. Contract management proves to be a very time-consuming element of business. timeframes and measurements. The sorts of operations that are often outsourced include the running of desktop and server applications. business processes. This process is common to all categories of procurement. getting paid (if you are the developer). Outsourcing itself can cover any or all IT system operations. which facilitates the need for effective and automated contract management system. And. the procurement process involves six broad stages. if the parties end up in court. Answer. backup and recovery. all while reducing financial risk. The relative importance of the different stages within the process will depend on the size and type of procurement activity being proposed.

125 each.It typically comprises of a non-exclusive license to use the software and includes provisions whereby (1) a copy of the source code is kept with an escrow agent for release to the customer should the programmer (or vendor) fail to comply with terms of the software or contact at 09882243490 . Mail us at: subjects4u@gmail. and Winter-2015 Get solved assignments at nominal price of Rs.