PM 0018 —CONTRACTS MANAGEMENT IN PROJECTS – 4 CREDITS
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SMU MBA Summer 2014 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 ”
MASTER OF BUSINESS ADMINISTRATION (MBA) – PROJECT MANAGEMENT
SEMESTER 4
PM 0018 —CONTRACTS MANAGEMENT IN PROJECTS – 4 CREDITS
(BOOK ID: B1347)
ASSIGNMENT- 60 MARKS
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
Q1. Fixed price contracts have a pre-set price that the vendor must adhere to in performing the work and in providing materials. There are different types of fixed price contracts. Explain them. [Explanation of various types of fixed price contracts]
Answer.
5 fixed price contracts
Fixed price contracts have a preset price that the vendor must adhere to in performing the work and in providing materials. There are different types of fixed price contracts. They are:
1. Firm-fixed-price (FFP): This type of contract requires delivery of a product or service at a specified price, fixed at the
Q2. Direct contracting is another procurement method that is used under a limited number of exceptional circumstances. Explain the Conditions for adopting direct contracting, requirements and steps for direct contracting. [Conditions for adopting direct contracting Requirements for direct contracting and Steps for direct contracting]
Answer.
Conditions for adopting direct contracting
We should adopt direct contracting when:
- Extension of existing contracts for works or supply of goods is justifiable on economic grounds. For example, there is an existing contract (awarded through NCB) for the construction of 20 kilometres road by the Public
Q3. Write short notes on Cost Plus Fee Contracts. [Explanation of Cost Plus Fee Contracts Features Conditions for adopting Advantages and disadvantages]
Answer.
Cost Plus Fee Contracts
A cost-plus fee contract, also termed a Cost Reimbursement Contract, is a contract where you pay the contractor for all set expenses plus an additional payment as profit to him. This type of contract is also suitable for works. For example you buy 3 tons of bricks from a contactor who is outside your city. You pay him the manufacturing cost of bricks, transportation cost, labour cost for loading and unloading, labour cost for manufacturing plus an additional amount which is given as
Q4. The methods of selecting a consultant are designed to achieve the objectives of quality, efficiency, fairness and transparency in the selection process and to encourage competition. Discuss any 2 methods of selecting consultants. [Explanation of any 2 of the methods With Where it is appropriate, Type of assignments for which this method of selection is adopted]
Answer.
2 methods of selecting consultants
The methods of selecting a consultant are designed to achieve the objectives of quality, efficiency, fairness and transparency in the selection process and to encourage competition. Hence it becomes critical for you to select the
Q5. The contract control process commences right at the beginning stage of bid document preparation inviting contractors to bid, and proceeds through the contract negotiation, contractor selection, monitoring and controlling of the contractor’s work and terminating the contract. Explain the areas that need attention for effective control of the contracts in a project. [Core competence of the project manager Requirements of the working system Use of Work Breakdown Structure (WBS) Recognising the limitations with flexibility]
Answer.
Core competence of the project manager
The project manager must have experience in planning and management of similar projects. While he should be ready to refer to the individual specialists, he should be as knowledgeable as anyone about the economic and regulatory environment, engineering technology, project planning, scheduling and cost accounting, as well as construction.
Q6. Explain the need of Procurement law and what are its objectives? [Explain the need of Procurement law, Objective) 5, 5
Answer.
Need of Procurement law
The Public Sector Units of the Centre and the States have issued their own procurement guidelines, manuals, codes and Standard Bidding Documents (SBDs). Thus, there is no uniformity across various Ministries, State Departments and PSUs. They could be easily modified as they were issued by the administrative Central Ministries and State Departments. Any
Dear Students,
SMU MBA Summer 2014 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 ”