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PM 0018 —Contracts Management in Projects

(Spring/Feb 2013)
Master of Business Administration – MBA Semester 4
“Project Management” Specialization
PM 0018 —Contracts Management in Projects (4 credits)
(Book ID: B1347)
Marks 60
Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.
Q1. Enumerate the characteristics and legal issues of LSTK EPC Turnkey contracts 10 marks(300-400) words
Answer : Lump-sum turnkey (LSTK) EPC contracting is now popular world-wide as a project delivery system for large process and power facilities. Examples are steel mills, LNG facilities, petroleum and petrochemical facilities, power plants. It is also being adopted for large infrastructure developments such as airports, water treatment facilities and telecommunication systems. While the term LSTK implies affixed price for the whole
Q2. Explain the steps that you should follow while evaluating the bids document.10 marks(300-400) words
Answer : After you close your competitive bidding process, you can evaluate the bids received and choose the bid that is the most cost-effective. You may consider as many factors in your evaluation as you want, but the price of the E-rate eligible products and services must be included as a factor and must be weighted more heavily than
Q3. Explain the Plan Procurement process with its inputs and the tools and techniques used. 10marks(300-400) words
Answer : Plan Procurement
This is the process of identifying which project needs are best met by procuring services from the private sector. It is undertaken during the scope definition phase and involves consideration of whether or not to procure, how to procure, what to procure, how much to procure, and when to procure.
Q4. Write a note on Request for Quote (RFQ).10 marks(300-400) words
Answer : When the government is merely checking into the possibility of acquiring a product or service, it may issue a Request for Quotation (RFQ).
An RFQ may also be used when the government does not intend to award a contract on the basis of the solicitation but wishes to obtain price,
Q5. Explain the guidelines for conducting a competitive negotiation 10 marks(300-400) words
Answer : Competitive negotiation is a method for negotiating the pricing and terms surrounding a particular transaction. This method of negotiation is based around the concept that negotiations are a zero-sum game; meaning that one party must win the negotiation while the other party loses. The concept of competitive negotiation is in direct contrast to cooperative negotiation methods, which conclude that there can be multiple winners in a negotiation, resulting in a win-win scenario for all of the involved parties.
Q6. Write a note on International arbitration institutions.10 marks(300-400) words
Answer : International arbitration is a leading method for resolving disputes arising from international commercial agreements and other international relationships. As with arbitration generally, international arbitration is a creation of contract, i.e., the parties’ decision to submit disputes to binding resolution by one or more

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